IIA-CIA-PART1 100% CORRECT ANSWERS & PRACTICE IIA-CIA-PART1 EXAM ONLINE

IIA-CIA-Part1 100% Correct Answers & Practice IIA-CIA-Part1 Exam Online

IIA-CIA-Part1 100% Correct Answers & Practice IIA-CIA-Part1 Exam Online

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2025 IIA Reliable IIA-CIA-Part1: Essentials of Internal Auditing 100% Correct Answers

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IIA-CIA-Part1: Essentials of Internal Auditing Exam is a globally recognized certification exam designed for professionals seeking to pursue a career in internal auditing. IIA-CIA-Part1 Exam is conducted by the Institute of Internal Auditors (IIA), which is a professional organization that provides guidance, education and certification to internal auditors across the world. IIA-CIA-Part1 exam is the first part of the three-part Certified Internal Auditor (CIA) program.

What is IIA-CIA-Part1 Exam

The revised CIA Part 1 exam is well aligned with the IIA's International Specialized Practice Framework (IPPF) and also includes 6 areas that cover the fundamentals of internal accounting; autonomy and neutrality; efficacy and appropriate specialized treatment; quality assurance and renewal programs; governance, threat tracking and even control; and even the threat of fraud. The first part examines the understanding, skills and also the capabilities of the perspectives associated with the International Specifications for Household Accounting Specialized Technique, in particular the characteristic standards (1000, 1100, 1200 and 1300 series), as well as the criteria performance 2100.

Aspects of the IPPF are included such as the purpose of internal auditing and the basics of expert internal auditing technique. The program offers a higher rating with the IIA performance standards. The test covers the distinctions between obtaining and seeking advice from compromises. The review is about the appropriate disclosure of consistency with respect to non-conformance to specifications. The most important area is “Threat Governance, Management and Control”, which represents 35% of the audit. Part of the exam requires candidates to demonstrate a basic understanding of the concepts; another section requires candidates to demonstrate mastery of their knowledge, skills, and abilities.

IIA Essentials of Internal Auditing Sample Questions (Q632-Q637):

NEW QUESTION # 632
According to MA guidance, which of the following is the strongest indicator of deficiencies in the risk management process?

  • A. The periodic evaluation of risk ratings is primarily dependent on subjective assessments.
  • B. Separate evaluations of the risk management process were conducted, but the results were never integrated.
  • C. Management's primary objective is minimizing changes to the structure and operation of the risk management process.
  • D. Many aspects of the related enterprise risk management program are informal and undocumented.

Answer: D


NEW QUESTION # 633
Which of the following is an advantage of using nongovernmental organization (NGO) members on an assurance team when auditing corporate social responsibility?

  • A. Typically less time is needed to train the NGO members on the audit process.
  • B. NGO members are often more unbiased and objective
  • C. A report with a positive statement from an NGO member is deemed to be more credible. As opposed to auditors.
  • D. NGO members are licensed to audit corporate social responsibility.

Answer: C

Explanation:
Including NGO members on an assurance team when auditing corporate social responsibility adds credibility to the audit findings, particularly when these findings are positive. NGOs are generally perceived as independent and dedicated to public interest, which can enhance the perceived impartiality and trustworthiness of the audit results in matters related to social responsibility.
Institute of Internal Auditors (IIA) - Advisory on Assurance Engagement for Corporate Social Responsibility


NEW QUESTION # 634
Which of the following statements is correct regarding corporate compensation systems and related bonuses?
I.A bonus system should be considered part of the control environment of an organization and should be considered in formulating a report on internal control.
II.Compensation systems are not part of an organization's control system and should not be reported as such.
III.An audit of an organization's compensation system should be performed independently of an audit of the control system over other functions that impact corporate bonuses.

  • A. Ionly
  • B. IIIonly
  • C. II and IIIonly
  • D. IIonly

Answer: A


NEW QUESTION # 635
Which of the following statements is true regarding the importance of risk management?

  • A. Risk management aids with the establishment of appropriate key performance indicators.
  • B. Risk management includes consideration of potential opportunities for the organization.
  • C. Risk management increases employees' commitment and belief in strategic goals.
  • D. Risk management ensures the ability to eliminate potential hazards to the organization.

Answer: B

Explanation:
Risk management is not solely about mitigating or eliminating potential hazards but also involves identifying and seizing potential opportunities that can benefit the organization. Effective risk management allows an organization to balance risk and reward, making informed decisions that align with its strategic objectives.
This approach ensures a proactive stance in optimizing performance and achieving competitive advantage while managing risks.
References:
* The Institute of Internal Auditors (IIA) Standards and Practice Advisories.
* COSO Enterprise Risk Management (ERM) Framework.
* "Risk Management: Principles and Practices" by IIA.


NEW QUESTION # 636
Which of the following activities best demonstrates an internal auditor's commitment to developing professional competencies?

  • A. Completing a skills assessment and development plan for targeted training needs,
  • B. Requesting to be part of all engagements on the annual audit plan.
  • C. Attending a webinar on how to use data analytics
  • D. Attending a series of locally offered training courses.

Answer: A

Explanation:
Completing a skills assessment and development plan specifically targets the auditor's training needs, thereby demonstrating a direct commitment to developing professional competencies. This approach is strategic as it identifies gaps in skills and knowledge, and provides a structured path towards professional development tailored to the auditor's current and future roles.
IIA guidelines on Continuing Professional Development


NEW QUESTION # 637
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