IIA-CIA-Part1 Premium Exam Questions

Internal Audit Fundamentals Questions and Answers

Question 9

Which of the following best demonstrates that an internal auditor is applying due professional care when planning an assurance engagement?

Assessing the risk of noncompliance with laws and regulations

Following the policies as prescribed by the internal audit manual.

Advising management of the area under review on how to mitigate internal control risks.

Conducting the engagement on the presupposition that fraud exists.

Question 10

Which of the following is the primary benefit of establishing a formal training program for the internal audit activity?

It is useful to reinforce the independence of the internal audit activity.

It is useful to guide internal auditors as they perform specific engagements.

It is useful to maintain the skills and competencies of internal audit staff.

It is useful to measure the effectiveness and maturity of the internal audit activity.

Question 11

Which of the following would provide the best support for internal auditors to meet their continuing professional development requirements?

Access to online internal audit and business skills courses.

Records of self-assessment reports completed by the internal audit staff.

Cosourcing arrangements with external providers on specific engagements.

Performance reviews comparing internal auditors' achievements against specified goals.

Question 12

Which of the following would be a preventive control for helping to manage fraud in an organization?

Reviews of reports to determine which issued payments lack evidence of supervisory review.

A monthly review of new vendors performed by management for reasonableness.

Bank reconciliations performed on a monthly basis by the accounting department.

A code of conduct and whistleblower policy that must be signed by all employees annually.