IIA-CIA-Part1 Reviews Questions

The board manages the process of developing, approving, and executing the strategic plan of the organization to ensure adequate governance. This responsibility includes aligning the strategic plan with the organization's goals and monitoring its execution, which is a key governance role.

Corporate governance principles; IIA guidance on the role of the board in strategic planning.

The risk management technique described by finding a local partner to manage sales and distribution in a new, volatile region is best characterized as "Sharing." This approach involves sharing the risk with another party that can better manage or absorb part of the risk, thus reducing the organization's direct exposure to potential adverse outcomes.

Risk management literature and practices, including frameworks such as ISO 31000.

The most effective way a chief audit executive (CAE) can demonstrate to the board that the internal audit team has the necessary skills to achieve its annual goals is through a competency assessment. This assessment measures and documents the collective skills and knowledge within the internal audit activity, ensuring they align with the requirements of the audit plan and the organization's objectives. Competency assessments can identify gaps and provide a basis for training and development, making it an essential tool for demonstrating capability.

The Institute of Internal Auditors (IIA) - International Professional Practices Framework (IPPF)

Audit logs are crucial for monitoring and reviewing the activities within IT systems, especially those processing personal data. The lack of audit logs presents a significant IT-related risk as it undermines the ability to trace any unauthorized or inappropriate access and actions within the system, thereby impacting the integrity and security of data.

Best practices in IT security and internal control frameworks like COBIT and ISO/IEC 27001.