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IIA-CIA-Part1 Exam Dumps : Essentials of Internal Auditing

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IIA IIA-CIA-Part1 Exam Dumps FAQs

Q. # 1: What is the IIA IIA-CIA-Part1 Exam?

The IIA IIA-CIA-Part1 Exam, also known as the Certified Internal Auditor Part 1, tests the foundational knowledge of internal auditing. It covers topics such as governance, risk management, and control

Q. # 2: Who should take the IIA CIA Part 1 Exam?

The IIA IIA-CIA-Part1 Exam is ideal for internal audit professionals, risk management specialists, and anyone seeking a comprehensive understanding of internal audit principles and practices. It's particularly beneficial for those aspiring to earn the prestigious CIA designation.

Q. # 3: What topics are covered in the IIA CIA Part 1 Exam?

The IIA IIA-CIA-Part1 Exam focuses on six core domains aligned with the IIA's International Professional Practices Framework (IPPF):

  • The Definition of Internal Auditing
  • Independence and Objectivity
  • Proficiency and Due Professional Care
  • Quality Assurance and Improvement Programs
  • Governance, Risk Management, and Control
  • Fraud Risk

Q. # 4: How many questions are on the IIA IIA-CIA-Part1 Exam?

The IIA IIA-CIA-Part1 Exam consists of 125 multiple-choice questions.

Q. # 5: How long is the IIA IIA-CIA-Part1 Exam?

Candidates have 2.5 hours (150 minutes) to complete the IIA IIA-CIA-Part1 Exam.

Q. # 6: What is the passing score for the IIA IIA-CIA-Part1 Exam?

The passing score for the IIA IIA-CIA-Part1 Exam is 600 out of 750.

Q. # 7: What is the difference between IIA IIA-CIA-Part1 and IIA-CIA-Part2 Exams?

The IIA IIA-CIA-Part1 and IIA-CIA-Part2 exams are both parts of the Certified Internal Auditor (CIA) certification, but they focus on different aspects of internal auditing.

  • IIA IIA-CIA-Part1 Exam: The IIA IIA-CIA-Part1 Exam covers the basics of internal auditing, including the foundations of internal auditing, independence and objectivity, proficiency and due professional care, quality assurance and improvement programs, governance, risk management, and control, and fraud risks.
  • IIA IIA-CIA-Part2 Exam: The IIA IIA-CIA-Part2 Exam delves into the practical aspects of internal auditing. It includes managing the internal audit activity, planning the engagement, performing the engagement, and communicating engagement results and monitoring progress.

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CertsTopics offers high-quality IIA-CIA-Part1 PDFs and a comprehensive IIA-CIA-Part1 testing engine tailored for the IIA IIA-CIA-Part1 exam, ensuring a well-rounded preparation.

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CertsTopics offers a refund policy if you are unable to pass the IIA IIA-CIA-Part1 exam after using our IIA-CIA-Part1 study guide materials. Our success guarantee ensures that you are fully supported throughout your preparation.

Essentials of Internal Auditing Questions and Answers

Question 1

An accounts payable clerk has recently transferred Into the internal audit activity and has been assigned to an engagement related to accounts payable processes for which he was previously responsible Which of the following is the best action for the new internal auditor to take?

Options:

A.

If it is an assurance engagement accept the assignment because direct knowledge of the existing accounts payable processes will provide depth and add more value

B.

If it is a consulting engagement decline the assignment and ask to be reassigned, because in a consulting engagement the auditor must not assess operations for areas in which they were previously responsible

C.

If it is a consulting engagement accept the assignment because direct knowledge of the existing accounts payable processes will provide depth and add more value

D.

If it is an assurance engagement accept the assignment becausethe chief audit executive had knowledge of the internal auditor's previous role when this engagement was assigned

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Question 2

During a review of employee benefits, a staff internal auditor observed an ambiguity in the incentive compensation policy. If reported, it could negatively impact the internal auditor's compensation. Which of the following would encourage the internal auditor to be objective in his work?

Options:

A.

Periodic reinforcement of the internal audit activity's code of ethics disclosure practices.

B.

External assessments of the internal audit activity every five years.

C.

Audit committee review of every engagement report at the conclusion of the audit.

D.

Internal audit charter approved by the board.

Question 3

Which of the following statements best illustrates why internal auditors assess soft controls?

Options:

A.

Assessing soft controls are an effective method of assessing risk related to personnel.

B.

Assessing soft controls, as opposed to hard controls, makes it easier to evaluate operating effectiveness.

C.

Assessing soft controls can help internal auditors in undertaking root-cause analysis.

D.

Assessing soft controls provides more objective information than assessing hard controls.