NEWEST IIA-CIA-PART1 QUESTIONS PROVIDE PREFECT ASSISTANCE IN IIA-CIA-PART1 PREPARATION

Newest IIA-CIA-Part1 Questions Provide Prefect Assistance in IIA-CIA-Part1 Preparation

Newest IIA-CIA-Part1 Questions Provide Prefect Assistance in IIA-CIA-Part1 Preparation

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Duration, language, and format of IIA-CIA-Part1 Exam

  • Number of Questions: 125
  • Length of examination: 150 mins
  • Format: Multiple choices, multiple answers
  • Passing score: 600
  • Language: Arabic, Chinese Simplified, Chinese Traditional, Czech, English, French, German, Hebrew, Indonesian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, Thai, and Turkish

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Latest IIA IIA-CIA-Part1 Exam Format - IIA-CIA-Part1 Official Practice Test

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Passing the IIA-CIA-Part1 exam is an essential step towards becoming a Certified Internal Auditor (CIA). The CIA certification is highly respected in the internal auditing profession and is recognized globally. Essentials of Internal Auditing certification demonstrates a commitment to the profession and a high level of knowledge and expertise in internal auditing. Passing the IIA-CIA-Part1 Exam requires preparation and study, but the benefits of becoming a CIA make the effort worthwhile.

IIA Essentials of Internal Auditing Sample Questions (Q952-Q957):

NEW QUESTION # 952
With regard To IT governance, which of the following is the most effective and appropriate role for the internal audit activity?

  • A. Assist management in interpreting complex IT-related privacy and security risk exposures and evaluating potential mitigation strategies.
  • B. Independently evaluate the skills and experience of potential chief information officer candidates to assess the best fit based on the organization's risk appetite.
  • C. Assess whether governance activities are aligned with the organization's risk appetite and take into consideration emerging risks.
  • D. Evaluate the organization's governance standards and assess IT-related activities to identify gaps and develop policies, ensuring alignment with the organization's risk appetite.

Answer: C


NEW QUESTION # 953
According to IIA guidance, which of the following best demonstrates due professional care?

  • A. Performing assurance procedures to guarantee all significant risks are identified.
  • B. Staffing audit engagements with internal auditors who possess professional designations.
  • C. Relying on prior audit work to save planning time and costs.
  • D. Assessing the cost of assurance in relation to the potential benefits.

Answer: D

Explanation:
Demonstrating due professional care involves assessing the cost of assurance in relation to the potential benefits (Option D).
This approach ensures that internal audit resources are used efficiently and effectively, providing value to the organization.
According to IIA Standards, Standard 1220: Due Professional Care, internal auditors must consider the extent of work needed to achieve the engagement's objectives and the relative complexity, materiality, or significance of matters to which assurance procedures are applied. Staffing audit engagements with qualified auditors (Option A), relying on prior work (Option B), and guaranteeing identification of all significant risks (Option C) do not fully encapsulate the essence of due professional care, which balances cost and benefit.
References:
* IIA Standards, Standard 1220: Due Professional Care
* IIA's International Professional Practices Framework (IPPF)


NEW QUESTION # 954
A fraud investigation was completed by management, and a proven fraud was communicated to relevant authorities. According to IIA guidance, which of the following roles would be most appropriate for the internal audit activity to undertake after the investigation?

  • A. Review the investigation and implement any improvements to the process.
  • B. Plan employee sessions and team building strategies for the organization to improve awareness of fraud among employees
  • C. Conduct lessons learned sessions to ascertain how the fraud occurred and which controls failed.
  • D. Determine why the fraud was not detected earlier and design controls to strengthen early detection.

Answer: C


NEW QUESTION # 955
Management of a publicly-held organization requires the internal audit activity to be involved with quarterly financial statements, which are made public and used internally. Which of the following explanations of management's decision is least plausible?

  • A. Management is following best-practice protocol, as stipulated by the Standards, which states that internal auditors must review quarterly financial statements.
  • B. Management may be concerned about its reputation in the financial markets.
  • C. Management may be concerned about potential penalties that could occur if quarterly financial statements are misstated.
  • D. Management may perceive that having quarterly financial information examined by the internal auditors enhances the information's value to internal decision making.

Answer: A

Explanation:
Section: Volume E


NEW QUESTION # 956
A snow removal company is conducting a scenario planning exercise where participating employees consider the potential impacts of a significant reduction in annual snowfall for the coming winter. Which of the following best describes this type of risk?

  • A. Residual.
  • B. Accepted.
  • C. Net.
  • D. Inherent.

Answer: D


NEW QUESTION # 957
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