Free IIA IIA-CIA-Part1-3P Exam Questions

Become IIA Certified with updated IIA-CIA-Part1-3P exam questions and correct answers

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Total 951 Questions | Updated On: Jan 08, 2025

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Question 1

The largest risks facing an organization should be mitigated by which type of controls?

A : Entity-level.

B : Activity-level.

C : Transaction-level.

D : Process-level.

Answer: A

Question 2

An internal auditor is reviewing tender documents for a maintenance contract. She notices that the bidder who won a recent tender has been winning tenders for the past decade despite many other qualified and well-established maintenance companies participating in the tender bids. The price offers from this bidder are consistently slightly lower than other bidders' prices, and this bidder always submits their bid just before the deadline. How should the auditor respond to these findings?

A : ize the laptops of employees related to the tender to secure a chain of custody

B : rry out a forensic examination of tender documents and submitted offers to identify signs of falsification.

C : nduct a guilt-admission interview with the procurement specialist who has most likely leaked prices of other bidders.

D : nsult the organizational fraud response plan and notify her supervisor of the potential red flags.

Answer: D

Question 3

Senior management asks the chief audit executive to review the organization's compliance with recently introduced legislation on international transfer pricing. The review requires an internal auditor who thoroughly understands the legislation and pricing methods. The internal audit activity does not have an auditor with those skills. Which of the following is the most appropriate course of action?

A : tsource the engagement to an external audit firm that has appropriate skills.

B : cruit a lawyer with knowledge of the legislation to the audit team and ask the new auditor to perform the engagement.

C : cline to perform the engagement, as the internal audit activity does not have the appropriate skill set.

D : rry out the engagement using existing internal audit staff to help them gain the appropriate experience.

Answer: A

Question 4

A chief audit executive is finding it increasingly difficult to obtain cooperation from some managers who refuse to provide access to records and property when requested. To address this situation, which of the following should be reinforced?

A : The authority of the internal audit activity.

B : independence and objectivity of the internal audit activity.

C : The objectives of the quality assurance and improvement program.

D : The responsibilities of the internal audit activity.

Answer: A

Question 5

An internal auditor would most likely judge an error in an account balance to be material if the error involves:

A : data input function.

B : large percentage of net income.

C : unverified routine transaction.

D : unusual transaction for the company.

Answer: B

Page: 1 / 191

Total 951 Questions | Updated On: Jan 08, 2025

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