Free IIA IIA-CIA-Part1 Exam Questions

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

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Total 951 Questions | Updated On: Mar 25, 2025

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Question 1

Why is it important for the chief audit executive to periodically review the audit charter and present the results to senior management and the board?

A : cause management requires the review to measure effectiveness of the internal audit activity.

B : that the individual objectivity of the internal audit staff can be more clearly established

C : that there is assurance of the internal audit staff's proficiency to complete audit activities.

D : cause changes in the organization may impair the internal audit activity's ability to meet its objectives.

Answer: D

Question 2

What role, if any, should the internal audit activity have in the process of following up on observations and recommendations made by the external auditors?

A : internal audit activity should have no role in this process in order to ensure independence.

B : internal audit activity should become involved only if the chief audit executive has sufficient evidence that the follow-up is not occurring.

C : internal audit activity should review the adequacy and effectiveness of management's follow-up actions.

D : internal audit activity should become involved only if specifically requested by management or the board of directors.

Answer: C

Question 3

According to IIA guidance, the nature and scope of assurance and consulting services to be offered must be clearly delineated in which of the following internal audit documents?

A : internal audit policies and procedures handbook.

B : internal audit charter.

C : internal audit mission statement.

D : ch internal audit engagement letter.

Answer: B

Question 4

Which of the following is the best way for an internal auditor to demonstrate due professional care?

A : nduct an audit to the same extent that another prudent auditor would under similar circumstances.

B : ek feedback from the engagement supervisor during the engagement.

C : quest and receive client feedback surveys during the engagement.

Answer: A

Question 5

Management has implemented a segregation-of-duties policy for handling inventory. Which of the following fraud risks would be more concerning to an internal auditor following the implementation of this new policy?

A : risk of collusion between parties.

B : risk of falsified reconciliations.

C : risk of low-liquidity inventory.

Answer: B

Page: 1 / 191

Total 951 Questions | Updated On: Mar 25, 2025

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