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IIA IIA-CIA-Part1 Exam Dumps Questions and Answers

Exam Code: IIA-CIA-Part1
Certification: CIA
Vendor: IIA
Last Update: Dec 21, 2024
Questions: 721 With Expert Explanation
10  Customers Passed IIA IIA-CIA-Part1
89%  Average Success In Real Exam
87%  Questions came word by word from this dump
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Essentials of Internal Auditing Questions and Answers

Questions 1

An internal audit team was assigned to review the organization’s information security protocol After fieldwork was completed an internal auditor identified an error in the review of security access The error could affect the overall results of the engagement Which of the following is the most appropriate course of action for the internal auditor?

Options:

A.

Proceed with addressing the error and report any corrections to the engagement supervisor during the scheduled exit meeting

B.

Issue the audit report to senior management on schedule but include a disclaimer about the error

C.

Proceed with the scheduled closing of the engagement without consideration of the identified error

D.

Inform the engagement supervisor of the error and allow the supervisor to determine the appropriate action to take

Questions 2

Nine months ago, an employee who was responsible for collections in the accounts receivables department joined the internal audit team. There is an accounts receivables assurance audit scheduled as part of this year's approved audit plan, which will include a review of the collections unit. With the knowledge and experience of this individual in the area, which of the following is the best approach for the chief audit executive (CAE) to take?

Options:

A.

Have the auditor formerly with the collections unit assist with planning and documenting the audit field work.

B.

Have the auditor formerly with the collections unit not participate on the audit team.

C.

Have the auditor formerly with the collections unit conduct the fieldwork and ensure it is reviewed by the CAE.

D.

Have the auditor formerly with the collections unit review all fieldwork done to ensure that there was adequate coverage.

Questions 3

Which of the following situations is most likely to prompt the internal audit activity to disclose its nonconformance with the Standards?

Options:

A.

One of the organization's senior internal auditors owns a side business, though to date, no sales have been made to this business.

B.

The annual internal audit plan includes performance audits of main business processes, but reviews of high-risk development projects were not considered.

C.

The internal audit activity committed to carrying out an audit of documentation on investment hedging, and a hedging expert was contracted to assist with the engagement.

D.

A periodic quality self-assessment of the internal audit activity identified a number of improvement areas with regard to key performance indicators.