Solved questions
Which of the following skills is most important for an internal auditor who facilitates control self-assessment workshops to possess?
A. Groupthink.
B. Collaboration skills.
C. Process analysis skills.
D. Project management skills.
Answer: C
Which of the following is an example of a detective control?
A. Automatic shut-off valve.
B. Auto-correct software functionality.
C. Confirmation with suppliers and vendors.
D. Safety instructions.
Answer: C
Which of the following types of policies best helps promote objectivity in the internal audit activity's work?
A. Policies that are distributed to all members of the internal audit activity and require a signed acknowledgment,
B. Policies that match internal auditors' performance with feedback from management of the area under review.
C. Policies that keep internal auditors in areas where they have vast audit expertise.
D. Policies that provide examples of inappropriate business relationships.
Answer: D
Which of the following best describes the internal audit activity's contribution to the implementation of the risk management framework?
A. Internal audit identifies key risk areas during assurance reviews and provides audit findings.
B. Internal audit assists with the prioritization of identified risks.
C. Internal audit participates in setting the risk appetite.
D. Internal audit takes part in the design of risk mitigation measures.
Answer: A
The internal audit activity completed its analysis of sample transactions to determine occurrences of double billings According to If A guidance, which of the following best demonstrates that internal auditors exercised due professional care during the review?
A. Internal auditors found no instances of double billing and concluded there were no significant risks in this area.
B. Internal auditors documented the scope and methodology of the data testing.
C. Internal auditors discussed with management how data is safeguarded.
D. Internal auditors received formal performance feedback from the engagement supervisor.
Answer: B
A chief audit executive (CAE) identifies that the internal audit activity lacks a necessary skill to perform a management request for a consulting engagement. According to IIA guidance, which of the following is the most appropriate action the CAE should take regarding the request?
The internal audit activity should possess or obtain the knowledge, skills, and other competencies needed to perform its responsibilities.
If internal auditors lack the knowledge, skills, or other competencies needed to perform all or a portion of the engagement, the chief audit executive should decline or limit the scope of the engagement, obtain competent advice and assistance, or provide training or supervision to internal auditors.
A. Assign the engagement to a more senior internal auditor.
B. Decline the engagement request.
C. Allow the internal auditors to acquire the needed skills while performing the engagement.
D. Supervise the assigned internal auditors throughout the engagement.
An internal auditor discovered fraud while performing an audit of an organization’s procurement process. Which of the following describes the greatest benefit of using forensic auditing techniques in this scenario?
A. Enhanced capability to prevent frauds from occurring.
B. Greater assurance that procurement frauds will be detected in a timely manner
C. Improved capability of evaluating fraud risks within the organization.
D. Greater understanding of fraud through better evidence collection
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CIA Exam Part One IIA-CIA-Part1 Dumps https://www.certspots.com/exam/iia-cia-part1/ Certspots IIA-CIA-Part1 Exam Dumps 1. Which of the following skills is most important for an internal auditor who facilitates control self-assessment workshops to possess? A. Groupthink. B. Collaboration skills. C. Process analysis skills. D. Project management skills. Answer: C IIA-CIA-Part1 Exam Dumps 2. Which of the following is an example of a detective control? A. Automatic shut-off valve. B. Auto-correct software functionality. C. Confirmation with suppliers and vendors. D. Safety instructions. Answer: C IIA-CIA-Part1 Exam Dumps 3. Which of the following types of policies best helps promote objectivity in the interna! audit activity's work? A. Policies that are distributed to all members of the internal audit activity and require a signed acknowledgment, B. Policies that match internal auditors' performance with feedback from management of the area under review. C. Policies that keep internal auditors in areas where they have vast audit expertise. D. Policies that provide examples of inappropriate business relationships. Answer: D IIA-CIA-Part1 Exam Dumps 4. The board of a newly established organization was discussing the contents of the draft internal audit charter One board member suggested adding to the charter an obligation for the internal audit activity to develop controls in business procedures. The board member explained that the new organization needs professional-level developers, internal auditors have the necessary skills and competencies, and the internal audit activity is well positioned to assume this responsibility. Which of the following would be a potential concern if the board member’s suggestion is adopted? A. Due professional care. B. Internal audit objectivity. C. Risk management assurance. D. Professional development. Answer: A IIA-CIA-Part1 Exam Dumps 5. An internal auditor is performing testing to gather evidence regarding an organization’s inventory account balance and is mindful of the possibility that the sample used might support the conclusion that the recorded account balance is not materially misstated when, in fact, it is. The auditor's concern best describes which of the following risks? A. incorrect rejection risk B. Incorrect acceptance risk. C. Tolerable misstatement risk. D. Anticipated misstatement risk Answer: B IIA-CIA-Part1 Exam Dumps 6. Which of the following best describes the internal audit activity's contribution to the implementation of the risk management framework? A. Internal audit identifies key risk areas during assurance reviews and provides audit findings. B. Internal audit assists with the prioritization of identified risks. C. Internal audit participates in setting the risk appetite. D. Internal audit takes part in the design of risk mitigation measures. Answer: A IIA-CIA-Part1 Exam Dumps 7. The internal audit activity completed its analysis of sample transactions to determine occurrences of double billings According to If A guidance, which of the following best demonstrates that internal auditors exercised due professional care during the review? A. Internal auditors found no instances of double billing and concluded there were no significant risks in this area. B. Internal auditors documented the scope and methodology of the data testing. C. Internal auditors discussed with management how data is safeguarded. D. Internal auditors received formal performance feedback from the engagement supervisor. Answer: B IIA-CIA-Part1 Exam Dumps 8. Which of the following best describes the internal audit activity’s responsibility within a risk and control framework? A. The internal audit activity constitutes the first line of defense in effective risk management. B. The internal audit activity provides direction regarding internal controls implementation. C. The internal audit activity verifies that management has met its responsibility for implementing effective controls. D. The internal audit activity implements the internal control framework and advises management regarding best practices. Answer: C IIA-CIA-Part1 Exam Dumps 9. A chief audit executive (CAE) identifies that the internal audit activity lacks a necessary skill to perform a management request for a consulting engagement. According to IIA guidance, which of the following is the most appropriate action the CAE should take regarding the request? A. Assign the engagement to a more senior internal auditor. B. Decline the engagement request. C. Allow the internal auditors to acquire the needed skills while performing the engagement. D. Supervise the assigned internal auditors throughout the engagement. Answer: B IIA-CIA-Part1 Exam Dumps 10. An internal auditor discovered fraud while performing an audit of an organization’s procurement process. Which of the following describes the greatest benefit of using forensic auditing techniques in this scenario? A. Enhanced capability to prevent frauds from occurring. B. Greater assurance that procurement frauds will be detected in a timely manner C. Improved capability of evaluating fraud risks within the organization. D. Greater understanding of fraud through better evidence collection Answer: D
