100% PASS 2025 IIA RELIABLE RELIABLE IIA-CIA-PART1 TEST TESTKING

100% Pass 2025 IIA Reliable Reliable IIA-CIA-Part1 Test Testking

100% Pass 2025 IIA Reliable Reliable IIA-CIA-Part1 Test Testking

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IIA-CIA-Part1 exam is a computer-based exam that consists of 125 multiple-choice questions. Candidates are given 2 hours and 30 minutes to complete the exam, and the passing score is 600 out of a possible 800 points. IIA-CIA-Part1 exam is available in multiple languages and can be taken at Pearson VUE testing centers worldwide. Candidates who pass the IIA-CIA-Part1 exam are awarded a certificate of completion and are eligible to take the remaining parts of the CIA certification program.

IIA-CIA-Part1: Essentials of Internal Auditing exam is a certification exam offered by the Institute of Internal Auditors (IIA) for professionals seeking to establish their expertise in internal auditing. IIA-CIA-Part1 Exam is designed to test the candidate's knowledge of the fundamental principles and concepts of internal auditing.

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IIA-CIA-Part1 exam is recognized globally as a standard for internal audit competency. Essentials of Internal Auditing certification demonstrates an individual's commitment to the internal audit profession and their ability to perform their duties with integrity and professionalism. It is also highly valued by employers, who often require or prefer candidates with the certification.

IIA Essentials of Internal Auditing Sample Questions (Q571-Q576):

NEW QUESTION # 571
Which of the following accurately describes the concept of inherent risk?

  • A. Risk factors that cannot be mitigated because they are innate to a process
  • B. Combination of internal and external risk factors in their pure state assuming no controls are in place
  • C. Risk factors that exist when controls are in place and operating effectively
  • D. Internal risk factors assuming no controls are in place

Answer: B

Explanation:
Inherent risk refers to the exposure or possibility of an adverse outcome arising in an activity or environment, assuming no controls are in place to mitigate it. This risk exists independently of any action by the organization and considers both internal and external risk factors in their natural, uncontrolled state.References: Institute of Internal Auditors (IIA) Glossary and Standards.


NEW QUESTION # 572
In which of the following situations would the organizational independence of an internal audit activity be impaired?

  • A. The compensation committee of the board approves the remuneration of the chief audit executive.
  • B. The internal audit activity provides assurance services for an activity for which the engagement supervisor had responsibility within the previous year.
  • C. Scope limitations are imposed on internal audits.
  • D. The chief audit executive reports administratively to the CEO.

Answer: C

Explanation:
The organizational independence of an internal audit activity is considered impaired if there are scope limitations imposed on internal audits. Such limitations prevent the internal audit activity from fully evaluating and reporting on risk management, control, or governance processes within the organization, thus hindering the ability to perform work freely and objectively. Administrative reporting lines (such as to the CEO), the process of compensation approval, or assurance services provided for previous responsibilities do not inherently impair independence unless they lead to restrictions on audit scope or influence over audit findings.References: IIA Standards and guidance on independence and objectivity.


NEW QUESTION # 573
During an account receivables audit,an internal auditor found a significant number of input errors resulting in a $500,000 balance understatement.
Which of the following is the most important question the internal auditor should ask to develop an appropriate recommendation for this finding?

  • A. Why?
  • B. When?
  • C. Who?
  • D. How?

Answer: A


NEW QUESTION # 574
Which of the following items related to the quality assurance and improvement program should the chief audit executive report to the board?

  • A. Internal auditors' training evaluation results
  • B. Annual risk assessment results
  • C. Periodic management assessment results
  • D. Ongoing monitoring results

Answer: D

Explanation:
The chief audit executive should report the ongoing monitoring results of the quality assurance and improvement program (QAIP) to the board. This reporting is crucial as it provides the board with a continuous insight into the performance and effectiveness of the internal audit function, ensuring that any areas needing improvement can be addressed promptly. Ongoing monitoring is a key component of QAIP, as it involves regular review of performance against the standards and adapting processes as necessary to meet objectives.References: The IIA's International Standards for the Professional Practice of Internal Auditing.


NEW QUESTION # 575
Which of the following practices is generally most effective to protect internal audit objectivity?

  • A. Ensuring regular documentation of auditor skills and experience in the workpapers.
  • B. Basing performance evaluations heavily on customer satisfaction surveys.
  • C. Ensuring that auditors have a balance of both operational and internal audit responsibilities.
  • D. Prohibiting auditors from accepting gifts from audit clients or potential clients.

Answer: D

Explanation:
Protecting the objectivity of internal auditors is a crucial aspect of maintaining the integrity and reliability of the internal audit function. According to the International Standards for the Professional Practice of Internal Auditing (Standards), specifically Standard 1120: Individual Objectivity, internal auditors must have an impartial, unbiased attitude and avoid any conflict of interest. Prohibiting auditors from accepting gifts from audit clients or potential clients (Option C) is a clear measure to prevent conflicts of interest and ensure that auditors remain objective and free from undue influence. This practice is in line with maintaining the highest level of ethical standards as per the IIA's Code of Ethics.References:
* IIA Standards, Standard 1120: Individual Objectivity
* IIA Code of Ethics


NEW QUESTION # 576
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