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IIA-CIA-Part1 certification exam is the first part of the Certified Internal Auditor (CIA) program, offered by the Institute of Internal Auditors (IIA). The CIA program is designed to provide internal auditors with the knowledge and skills necessary to succeed in their profession. The IIA-CIA-Part1 Exam, also known as the Essentials of Internal Auditing exam, covers the fundamental principles and practices of internal auditing.
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IIA Essentials of Internal Auditing Sample Questions (Q213-Q218):
NEW QUESTION # 213
Which of the following practices, applied by the chief audit executive {CAE), most likely indicates an effective continuing professional educational program for the internal audit activity?
- A. The CAE encourages auditors to volunteer to support research work of the local professional institute.
- B. The CAE requires auditors to periodically attest to the profession's Code of Ethics.
- C. The CAE reminds auditors to ensure workpapers are completed for audit engagements.
- D. The CAE tasks internal auditors with coordinating assurance activities with other providers across the organization.
Answer: A
Explanation:
An effective continuing professional education (CPE) program for internal auditors involves ongoing development and engagement with the broader professional community. By encouraging auditors to volunteer and support research work of the local professional institute, the CAE promotes professional growth, knowledge sharing, and staying current with industry best practices and emerging trends. This practice not only enhances the auditors' skills and knowledge but also fosters networking and professional development opportunities.
References:
* The IIA Standards: Standard 1230 - Continuing Professional Development: "Internal auditors must enhance their knowledge, skills, and other competencies through continuing professional development."
* IIA Practice Guide: "Continuing Professional Education (CPE)": Highlights the importance of engagement with professional bodies and continuous learning as part of an effective CPE program.
NEW QUESTION # 214
Which of the following procedures would provide the best evidence of the effectiveness of a credit-granting function?
- A. Ask the credit manager about the effectiveness of the function.
- B. Review the trend in receivables write-offs.
- C. Check for evidence of credit approval on a sample of customer orders.
- D. Observe the process.
Answer: B
Explanation:
Section: Volume A
NEW QUESTION # 215
A government agency's policy states that board members' travel and hospitality expenses must be audited annually. Which of following people or groups is most appropriate to perform this audit?
- A. The internal audit activity.
- B. The government's independent auditor.
- C. The external auditors from an accounting firm.
- D. The agency's chief compliance officer.
Answer: B
NEW QUESTION # 216
Performing a monthly analysis of potential duplicate invoices paid to suppliers is an example of which type of fraud control?
- A. Detective control.
- B. Proactive control.
- C. Preventive control.
- D. Corrective control.
Answer: A
NEW QUESTION # 217
What role, if any, should the internal audit activity have in the process of following up on observations and recommendations made by the external auditors?
- A. The internal audit activity should become involved only if the chief audit executive has sufficient evidence that the follow-up is not occurring.
- B. The internal audit activity should review the adequacy and effectiveness of management's follow-up actions.
- C. The internal audit activity should become involved only if specifically requested by management or the board of directors.
- D. The internal audit activity should have no role in this process in order to ensure independence.
Answer: B
Explanation:
Section: Volume B
NEW QUESTION # 218
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