IIA IIA-CIA-Part1 Exam With Confidence Using Practice Dumps

The correct statement regarding the role of the internal audit activity in the organization's risk management process is that the internal audit activity may coach management on risk response scenarios if appropriate safeguards have been implemented. This coaching role helps management understand and address risks effectively while maintaining the audit function's objectivity and independence.References: The IIA's guidance on the role of internal auditing in risk management and the standards regarding objectivity and consulting.

When assessing the effectiveness of the organization's newly revamped risk management processes, internal auditors should first review the organizational strategy and business plans. This review helps auditors understand the context and priorities of the organization, which are crucial for evaluating how well the risk management processes are aligned with strategic objectives.References: Best practices and standards from the IIA regarding assessing risk management processes, emphasizing alignment with organizational strategies.

According to IIA guidance, the most appropriate role for the internal audit activity after a fraud investigation is to conduct lessons learned sessions to ascertain how the fraud occurred and which controls failed. This approach helps the organization to understand the weaknesses in their controls and processes, thereby facilitating improvements to prevent future occurrences.References: IIA Practice Advisories on fraud and the role of internal auditing post-investigation.