Download Latest IIA-CIA-Part1 Questions

When a potential fraud instance is identified, the chief audit executive (CAE) appoints a lead investigator to manage the investigation. The next critical step is to determine the competencies needed for the investigation and assess whether the team members have any conflicts of interest. This ensures that the investigation team has the appropriate skills, knowledge, and objectivity to handle the case effectively. Ensuring there are no conflicts of interest is vital to maintain the integrity and credibility of the investigation process.

References:

IIA Practice Guide: Internal Auditing and Fraud

IIA Standard 1210: Proficiency

IIA Standard 1120: Individual Objectivity

The quality assurance and improvement program (QAIP) should include both internal assessments performed by staff and external assessments performed by independent, objective individuals. This ensures that the internal audit activity maintains high standards of quality and adheres to professional guidelines.

Option A: The QAIP must include ongoing internal assessments and external assessments every five years, not necessarily every three years.

Option B: While ongoing self-assessments are part of QAIP, external assessments by independent assessors are also required.

Option D: The board may set scoping limitations, but the comprehensive nature of QAIP includes both internal and external evaluations without board-imposed restrictions.

References:

IIA Standard 1300: Quality Assurance and Improvement Program.

IIA Standard 1312: External Assessments.

Internal auditors can indeed provide assurance on reported sustainability results. This involves evaluating the accuracy and completeness of an organization's sustainability reporting and verifying that the reported information reflects actual performance. This role aligns with the broader assurance and advisory functions of internal audit, ensuring that CSR disclosures are reliable and credible.

References:

The Institute of Internal Auditors (IIA) Standards and Practice Advisories.

Global Reporting Initiative (GRI) Standards.

"Internal Auditing: Assurance & Advisory Services" by IIA, Chapter on CSR and Sustainability Reporting.

Among the survey questions provided, the most effective for identifying ethics violations is: Does your supervisor comply with laws and regulations affecting the organization? This question directly addresses compliance and ethical behavior of supervisors, which is crucial for setting an ethical tone at the top and ensuring organizational integrity.

Option A: Relates to performance targets and is not directly about ethics.

Option B: Focuses on skills and training, which are important but not specific to ethics.

Option D: Concerns resources and time, not directly addressing ethical violations.

References:

IIA’s Practice Guide on "Auditing Culture".

Compliance and Ethics Programs guidance.