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IIA-CIA-Part1 Exam Dumps : Internal Audit Fundamentals

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IIA IIA-CIA-Part1 Exam Dumps FAQs

Q. # 1: What is the IIA IIA-CIA-Part1 Exam?

The IIA IIA-CIA-Part1 Exam, also known as the Certified Internal Auditor Part 1, tests the foundational knowledge of internal auditing. It covers topics such as governance, risk management, and control

Q. # 2: Who should take the IIA CIA Part 1 Exam?

The IIA IIA-CIA-Part1 Exam is ideal for internal audit professionals, risk management specialists, and anyone seeking a comprehensive understanding of internal audit principles and practices. It's particularly beneficial for those aspiring to earn the prestigious CIA designation.

Q. # 3: What topics are covered in the IIA CIA Part 1 Exam?

The IIA IIA-CIA-Part1 Exam focuses on six core domains aligned with the IIA's International Professional Practices Framework (IPPF):

  • The Definition of Internal Auditing
  • Independence and Objectivity
  • Proficiency and Due Professional Care
  • Quality Assurance and Improvement Programs
  • Governance, Risk Management, and Control
  • Fraud Risk

Q. # 4: How many questions are on the IIA IIA-CIA-Part1 Exam?

The IIA IIA-CIA-Part1 Exam consists of 125 multiple-choice questions.

Q. # 5: How long is the IIA IIA-CIA-Part1 Exam?

Candidates have 2.5 hours (150 minutes) to complete the IIA IIA-CIA-Part1 Exam.

Q. # 6: What is the passing score for the IIA IIA-CIA-Part1 Exam?

The passing score for the IIA IIA-CIA-Part1 Exam is 600 out of 750.

Q. # 7: What is the difference between IIA IIA-CIA-Part1 and IIA-CIA-Part2 Exams?

The IIA IIA-CIA-Part1 and IIA-CIA-Part2 exams are both parts of the Certified Internal Auditor (CIA) certification, but they focus on different aspects of internal auditing.

  • IIA IIA-CIA-Part1 Exam: The IIA IIA-CIA-Part1 Exam covers the basics of internal auditing, including the foundations of internal auditing, independence and objectivity, proficiency and due professional care, quality assurance and improvement programs, governance, risk management, and control, and fraud risks.
  • IIA IIA-CIA-Part2 Exam: The IIA IIA-CIA-Part2 Exam delves into the practical aspects of internal auditing. It includes managing the internal audit activity, planning the engagement, performing the engagement, and communicating engagement results and monitoring progress.

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Internal Audit Fundamentals Questions and Answers

Question 1

Which of the following written documents typically offers the best evidence that internal auditors exercise due professional care in conformance with the Standards?

Options:

A.

Internal audit charter.

B.

Workpaper.

C.

Audit report.

D.

Code of ethics.

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Question 2

Which of the following would be the best choice for a continuing professional development requirement for a newly created internal audit activity?

Options:

A.

Require all internal auditors to create a training plan based on a competency self-assessment.

B.

Require internal auditors to complete all of their training through webinars, to increase efficiency and avoid traveling

C.

Require all internal auditors to become a member of The Institute of Internal Auditors.

D.

Require internal auditors to create a training plan based on their areas of interest

Question 3

Which of the following is an example of an impairment to an internal auditor ' s independence?

Options:

A.

An internal auditor delays reporting material financial statement audit findings until after his parents sell all of their stock in the company

B.

Following the restructuring of the organization, the internal audit activity now reports functionally to the chief financial officer

C.

A new member of the internal audit activity, who was the accounts payable supervisor for two years, is asked to consult on the implementation of a new accounts payable system

D.

Believing there must be errors in a given balance sheet account the internal auditor decides to expand his testing