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Product Description:
Exam Number/Code: IIA-CIA-Part1
Exam name: Certified Internal Auditor - Part 1, The Internal Audit Activitys Role in Governance, Risk, and Control
n questions with full explanations
Certification: IIA Certification
Last updated on Global synchronizing

Free Certification Real IT IIA-CIA-Part1 Exam pdf Collection

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Q201. After being terminated due to downsizing, an internal auditor finds a different job with an organization in the same industry. Which of the following actions would violate the IIA Code of Ethics? 

A. To determine audit priorities in the new job,the auditor uses the audit risk approach that the auditor's previous employer used,without receiving permission to do so. 

B. At the new organization,the auditor is asked to develop forms to implement probability- proportional-to-size sampling. Although unsure of how to perform this type of sampling,the auditor proceeds without asking for assistance. 

C. In preparing for an audit at the previous organization,the auditor had conducted a great deal of research on the Internet at home to identify best practices for the management of a treasury function. The auditor has retained much of the research and uses it to conduct an audit of the new employer's treasury function. 

D. In the first week at the new organization,the auditor discovers a high fraud risk surrounding the organization's database and suggests that the information technology department implement a new password system to prevent fraudulent actions before they occur. 


Q202. An internal auditor is using a spreadsheet application to review a cash flow forecast prepared by management. 

Which of the following correctly identifies the type of evidence this information represents? 

A. Competent,corroborative evidence of future working capital requirements. 

B. Sufficient,analytical evidence of the cash flow position at a given point of time in the future. 

C. Competent,documentary evidence of future cash flow changes within the organization. 

D. Sufficient,circumstantial evidence of the future solvency of the organization. 


Q203. If earnings on financial statements for internal use only have been manipulated in the past, an internal auditor is likely to focus on which of the following? 

A. The proper accrual of payables at the end of the interim period. 

B. The timing of revenue recognition and the valuation of inventories. 

C. Whether accounting estimates are reasonable given past actual results. 

D. Whether there have been changes in accounting principles that materially affect the financial statements. 


Q204. A chief audit executive (CAE) is selecting an internal audit team to perform an audit engagement that requires a high level of knowledge in the areas of finance, investment portfolio management, and taxation. If neither the CAE nor the existing internal audit staff possess the required knowledge, which of the following actions should the CAE take? 

A. Postpone the audit until the CAE hires internal audit staff with the required knowledge. 

B. Ask the audit committee to decide the course of action. 

C. Select the most experienced auditors in the department to perform the engagement. 

D. Hire consultants who possess the required knowledge to perform the engagement. 


Q205. According to IIA guidance, which of the following must internal auditors consider to conform with the requirements for due professional care during a consulting engagement? 


 The cost of the engagement, as it pertains to audit time and expenses in relation to the potential benefits. 


 The needs and expectation of clients, including the nature, timing, and communication of engagement results. 


 The application of technology-based audit and other data analysis techniques, where appropriate. 


 The relative complexity and extent of work needed to achieve the engagement's objectives. 

A. 1,2,and 3 

B. 1,2,and 4 

C. 1,3,and 4 

D. 2,3,and 4 


Q206. Which of the following activities best reflects the scope and status of the internal audit activity as defined in the internal audit policy statement? 

A. The internal auditor reviews the physical access to merchandise during an inventory count. 

B. The audit manager conducts an internal quality assessment of the internal audit activity’s adherence to the Standards. 

C. The audit manager refrains from assigning an auditor who was a former payroll clerk to conduct a payroll audit. 

D. The board approves the annual performance evaluation of the chief audit executive. 


Q207. Which of the following would provide the best assessment of an organization's ethical climate? 

A. Number of years that directors have been appointed to the board. 

B. Evidence of training provided to the board of directors on ethical issues. 

C. Clarity and consistency of consequences imposed by the board of directors for ethical violations. 

D. Frequency of fraud reported and results of subsequent investigations. 


Q208. A computer system automatically locks a user's account after three unsuccessful attempts to log on. 

Which type of control does this scenario represent? 

A. Corrective control. 

B. Preventive control. 

C. Detective control. 

D. Compensating control. 


Q209. In addition to data protection, which of the following is a control that is typically used by companies to safeguard the privacy rights of their customers? 

I. End-user computing. 

II. Encryption of data. 

III. Spyware. 


 Intrusion detection. 




I and IIIonly C. II and IVonly D. I,II,and IVonly 


Q210. The primary role of the internal audit activity in regard to an organization's ethical climate is to: 

A. Participate as chief ethics officer. 

B. Periodically assess the ethical climate. 

C. Utilize surveys to evaluate employee ethics. 

D. Demonstrate ethical behavior.