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IIA Updated IIA-CIA-Part1 Exam Questions and Answers by andreas

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IIA IIA-CIA-Part1 Exam Overview :

Exam Name: Essentials of Internal Auditing
Exam Code: IIA-CIA-Part1 Dumps
Vendor: IIA Certification: CIA
Questions: 721 Q&A's Shared By: andreas
Question 104

An experienced internal auditor is planning an assurance engagement of the organization's sales activities. During process walkthroughs and interviews, many sales representatives expressed concerns about management's escalating demands to meet the organization's sales goals. According to the MA guidance, which of the following is the best application of due professional care in planning the engagement?

Options:

A.

Disregard the complaints because the information isn't reliable and isn't sufficient to support engagement conclusions and results.

B.

Consider the significance of the risks related to the complaints and develop appropriate assurance procedures in work programs.

C.

Disregard the complaints because using them would violate the confidentiality principle.

D.

Discuss management's needs and expectations related to including the complaints in the audit scope.

Discussion
Question 105

Which of the following would be most helpful to measure whether an internal audit activity successfully provides risk-based assurance?

Options:

A.

Percentage of highly significant risks covered by internal audit plan.

B.

Percentage of previously unknown risks identified per engagement.

C.

Percentage of internal audit staff skilled in alignment with the organization's structure and key risks.

D.

Percentage of observations made in assurance engagements compared to advisory engagements.

Discussion
Question 106

An electric company hires several independent contractors to trim trees that are in close proximity to electricity lines. Which of the following would be the most effective control to mitigate the risk of contractors submitting fraudulent invoices regarding work completed?

Options:

A.

Require contractors to submit completed and signed work acceptance sheets

B.

Utilize unmanned drones to conduct regular flights and photo shoots over the areas where work is performed

C.

Reconcile invoices and work acceptance sheets submitted by contractors

D.

Compare actual payments to contractors with budgeted values and analyze discrepancies

Discussion
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Question 107

Which of the following is the primary benefit of an effective professional development program for internal auditors?

Options:

A.

An effective program may enhance internal auditors' business acumen

B.

An effective program may ensure that HA Standards requirements are adhered to during audit engagements

C.

An effective program may ensure internal auditors' effectiveness in setting the organization's nsk management process

D.

An effective program may clarify management's expectations of the auditors and their responsibilities to the organization

Discussion
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