Online IIA-CIA-Part1 Questions Video

Internal audit fraud prevention and detection activities are the best example of an ongoing independent monitoring activity among the options provided. These activities are designed to be independent of the management and are critical in continuously monitoring and identifying potential fraudulent activities within the organization.References: IIA standards on fraud and monitoring

An example of impairment to internal auditor independence or objectivity is when internal auditors provide consulting services relating to operations for which they have current responsibilities. This creates a direct conflict of interest as the auditor is assessing parts of the organization for which they are responsible, potentially compromising their ability to remain objective and unbiased.References: The IIA's Code of Ethics and International Standards for the Professional Practice of Internal Auditing, particularly standards related to objectivity and independence.

When a plant manager from within the organization is hired as a rotational internal auditor, the area he should most likely be trained for immediately is risk assessments. This training is crucial because understanding and performing risk assessments is fundamental to the internal audit function, and the plant manager may not have specific skills in this area despite having industry and management experience.References: IIA education and training standards

In the quality assurance and improvement program (QAIP) reporting, the inclusion of conformance of individual engagements with the Standards is essential. This aspect of the QAIP ensures that all audit activities adhere to the International Standards for the Professional Practice of Internal Auditing, thereby maintaining the integrity and effectiveness of the audit function. Reporting on conformance highlights the audit activity’s alignment with globally recognized standards and practices, which is a critical component of quality assurance in internal auditing.References: IIA's International Standards for the Professional Practice of Internal Auditing on Quality Assurance and Improvement Programs.