IIA IIA-CIA-Part1 Based on Real Exam Environment

To promote organizational independence for the internal audit activity, the audit committee should approve the annual budget and resource plan for the internal audit activity. This action ensures that the internal audit has sufficient resources to independently carry out its mandate without undue influence from management.

IIA guidance and standards concerning the role of the audit committee in supporting the independence and resources of the internal audit function.

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.

The most appropriate first step for the board to take when developing an effective system of governance is to identify key stakeholders and their expectations. Understanding stakeholders ' expectations is fundamental to defining the governance framework that aligns with these needs and establishing the organization ' s strategic objectives and policies.

IIA guidance on effective governance frameworks.

Drafting operational procedures for an area and then auditing the same area is considered a threat to an internal auditor ' s objectivity because the auditor may be auditing their own work. This situation presents a self-review threat, where the auditor ' s independence can be compromised as they might be biased towards the procedures they themselves have created.

IIA Standard 1120 - Objectivity, which states that internal auditors should not audit their own work or provide assurance on activities for which they were previously responsible.