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

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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: obi
Question 12

Which of the following is considered to be a threat to the internal auditor's objectivity?

Options:

A.

The auditor drafted the operational procedures of the area that she is currently auditing.

B.

The auditor received a bonus that was approved by the board of directors.

C.

The assigned auditor recommended operational procedures for the organization.

D.

The assigned auditor rotated out of the same business activity three years ago

Discussion
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Question 13

Which of the following best demonstrates organizational independence of the internal audit activity?

Options:

A.

The chief audit executive (CAE) reports functionally to the CEO.

B.

The CAE's compensation is approved by the chief financial officer.

C.

The CAE's appointment Is determined by the CEO

D.

The CAE reports administratively to the chief operating officer.

Discussion
Question 14

Which of the following represents a deficiency in the control environment?

Options:

A.

The sales department has failed to achieve targets for the last nine months.

B.

Employees report suspicious activity by calling the organization's ethics hotline.

C.

Hiring procedures do not include background checks for prospective job candidates.

D.

Management reports three potential ethics issues to the board of directors.

Discussion
Question 15

During an audit engagement, a junior staff internal auditor begins to suspect a fraud may have occurred involving a friend of the engagement supervisor. He reports his concerns to the engagement supervisor, who disagrees with his suspicions and directs him to continue with the engagement as planned. Given the circumstance, what is the most appropriate action for the junior auditor to take?

Options:

A.

Document in the workpapers and expand testing.

B.

Continue with the engagement as planned, per the more senior auditor.

C.

Report the suspected fraud to law enforcement officials and seek financial restitution.

D.

Escalate the concern to the chief audit executive.

Discussion
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