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Free IIA-CIA-Part1: Certified Internal Auditor - Part 1 The Internal Audit Activitys Role in Governance Risk and Control Exam Questions and Answers
Last updated: March 30, 2025
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163-IIA-CIA-Part1: Certified Internal Auditor - Part 1 The Internal Audit Activitys Role in Governance Risk and Control
#Question
177. If an internal auditor notices a pattern of late reporting among departments, what should they do?
A.
Discuss with management
B.
Ignore it
C.
Document the pattern and take no action
D.
Report to external stakeholders
Correct Answer:
A
Discussing the pattern with management can help address underlying issues and improve overall timeliness in reporting.
#Question
176. What is a key component of internal audit planning?
A.
Understanding organizational structure
B.
Gathering unnecessary data
C.
Solely focusing on financials
D.
Determining auditing schedules
Correct Answer:
A
Understanding organizational structure is key to effective audit planning, as it informs auditors about potential risks and areas of focus.
#Question
175. In reporting to the board, how should auditors present significant audit findings?
A.
Using clear and concise language
B.
Avoid technical language
C.
Only ask for approvals
D.
In detail without context
Correct Answer:
A
Using clear and concise language ensures that significant findings are understood and can be acted upon effectively by the board.
#Question
174. How can auditors enhance their understanding of compliance requirements?
A.
Ignore changes
B.
Rely on management solely
C.
Regular training and staying updated
D.
Limit research
Correct Answer:
C
Regular training and staying updated help auditors enhance their understanding of evolving compliance requirements.
#Question
173. When reviewing vendor contracts, what should an internal auditor prioritize?
A.
Compliance with organizational policies
B.
Vendor relationships
C.
Cost savings
D.
Number of contracts
Correct Answer:
A
Ensuring compliance with organizational policies is crucial for managing risks associated with vendor contracts.
#Question
172. What is the primary focus of conducting an operational audit?
A.
Regulatory compliance
B.
Financial performance
C.
Employee satisfaction
D.
Efficiency and effectiveness of operations
Correct Answer:
D
An operational audit primarily focuses on assessing the efficiency and effectiveness of an organization's operations.
#Question
171. If management is resistant to recommended changes from an audit, what should the auditor do?
A.
Accept management's decision
B.
Suggest further delays
C.
Ignore their feedback
D.
Document resistance and follow up
Correct Answer:
D
Documenting resistance and following up ensures there is a formal record of management's response to audit recommendations.
163-IIA-CIA-Part1: Certified Internal Auditor - Part 1 The Internal Audit Activitys Role in Governance Risk and Control
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FAQ
Learn More:
Q1: What are IIA Certification Exams? A: IIA (Institute of Internal Auditors) Certification Exams validate your expertise in internal auditing, risk management, governance, and control processes. These certifications demonstrate your proficiency in evaluating and improving the effectiveness of risk management, control, and governance processes within an organization.
Q2: Why should I pursue IIA Certification? A: IIA Certification enhances your professional credibility, showcasing your skills and knowledge in internal auditing. This can lead to better job opportunities, higher salaries, and career advancement in auditing, compliance, and risk management roles.
Q3: What are the benefits of IIA Certification? A: Benefits include recognition as a certified internal auditor, improved job performance, access to exclusive resources, continuing education opportunities, and staying current with the latest auditing practices and industry standards.
Q4: Who should take IIA Certification Exams? A: Internal auditors, risk management professionals, compliance officers, and anyone involved in assessing and improving organizational processes should consider these certifications to validate their expertise and advance their careers.
Q5: What types of IIA Certification Exams are available? A: IIA offers various certification paths, including:
- Certified Internal Auditor (CIA)
- Certification in Risk Management Assurance (CRMA)
- Certified Government Auditing Professional (CGAP)
- Certified Financial Services Auditor (CFSA)
- Certification in Control Self-Assessment (CCSA)
Each certification path is tailored to different roles and expertise levels within the internal auditing and risk management field.
Q6: How do I prepare for IIA Certification Exams? A: Preparation can include official IIA study materials, preparatory courses, practice exams, online tutorials, and hands-on experience in internal auditing and risk management.
Q7: Where can I take IIA Certification Exams? A: IIA Certification Exams can be taken at authorized Pearson VUE testing centers worldwide, providing flexibility to fit your schedule and location.
Q8: How do IIA Certifications impact my career? A: IIA Certifications significantly boost your career by demonstrating your expertise to employers, making you a more competitive candidate for advanced roles and promotions in auditing, compliance, and risk management.
Q9: Are there any prerequisites for IIA Certification Exams? A: Some exams may have prerequisites, such as educational qualifications or professional experience in internal auditing. Check the specific requirements for each certification path on the IIA website.
Q10: How often do I need to recertify for IIA Certifications? A: IIA Certifications typically require continuing professional education (CPE) credits and recertification every three years to ensure that certified professionals stay updated with the latest auditing practices and industry standards.
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