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

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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: maverick
Question 144

It is important for the chief audit executive to consider the level of competence of the internal audit staff because their competence influences which of the following?

Options:

A.

The cost-benefit relationship of planned audits.

B.

Proficiency needed to carry out engagements.

C.

Achievement of the objectives of internal control.

D.

Quantity of the audits performed.

Discussion
Question 145

During a payroll audit, the internal auditor discovered that several individuals who have the same position classification as he are earning a significantly higher salary. The auditor noted the names and amounts of each, and he planned to prepare a request to the chief audit executive for a salary increase based on this information. Which of the following IIA Code of Ethics principles was violated in this scenario?

Options:

A.

Competency.

B.

Objectivity,

C.

Integrity.

D.

Confidentiality

Discussion
Question 146

When taken by a chief audit executive, which of the following actions would be most likely to prevent division management from exaggerating sales reports?

1. Announcing a series of internal audit engagements focusing on compliance with corporate sales-reporting policies.

2. Asking the president and the board to issue a statement of corporate policy stressing the importance of accurate management

reporting and the negative consequences of intentional misreporting.

3. Setting up a hotline for employees to report fraudulent behavior anonymously,

4. Assisting the controller in developing and monitoring a series of business process indicators, which are historically correlated with, but independent of sales.

Options:

A.

1 and 2 only.

B.

2 and 3 only.

C.

2 and 4 only.

D.

3 and 4 only

Discussion
Question 147

Upon joining the internal audit activity, each new auditor receives a copy of the audit handbook. Which of the following handbook policies has the greatest risk of compromising audit objectivity?

Options:

A.

Internal auditors should obtain 80 hours of continuing professional education every two years, 20 of which should be audit-related, and the remainder may be operations-related.

B.

Internal auditors should rotate to other areas of the organization for nonaudit assignments to gain an understanding of the organization's operations.

C.

Internal auditors should have direct and unrestricted access to personnel and information throughout the organization and the governing board.

D.

Internal auditors should undergo annual performance appraisals conducted by the chief audit executive, who reports administratively to the chief financial officer.

Discussion
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