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CIA IIA-CIA-Part1 Syllabus Exam Questions Answers

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Total 721 questions

Essentials of Internal Auditing Questions and Answers

Question 117

In which of the following ways can a chief audit executive demonstrate to the board that the internal audit activity collectively possesses all of the skills needed to complete its annual goals?

Options:

A.

Involve board members in hiring activities and request advice.

B.

Require all internal audit staff to complete the same training course on a general audit subject,

C.

Require senior auditors to obtain a professional certification.

D.

Provide a competency assessment of the internal audit staff.

Question 118

Senior management has decided to adopt the key principles approach of the ISO 31000 risk management framework. According to IIA guidance, which of the following principles is most appropriate when implementing the risk management process in a dynamic agency?

Options:

A.

Everyone in the agency has a primary responsibility for identifying and managing risks as part of the risk management process.

B.

The risk management process, while evaluating risk, should develop a mechanism to rank the relative importance of each risk.

C.

The risk management process should be regularly reviewed and respond to changes in the environment, to remain relevant.

D.

The risk management process should use a formal technique to consider the consequence and likelihood of each risk.

Question 119

Which of the following resources would be most effective for an organization that would like to improve how it informs stakeholders of its social responsibility performance?

Options:

A.

ISO 26000.

B.

Global Reporting Initiative.

C.

Open Compliance and Ethics Group.

D.

COSO’s enterprise risk management framework

Question 120

Which of the following processes does the board manage to ensure adequate governance?

Options:

A.

Establish and measure performance objectives for the internal audit activity.

B.

Select board members with necessary knowledge and skills.

C.

Develop, approve, and execute the strategic plan of the organization.

D.

Develop strategies to mitigate the risks to achieving the organization’s objectives

Page: 30 / 54
Total 721 questions