Last Attempt IIA-CIA-Part1 Questions

The best course of action when the internal audit activity lacks the necessary knowledge for a planned audit is to Provide data backup training to the engagement supervisor. This option ensures that the audit team builds the required competencies internally, enhancing their ability to perform the audit effectively.

Option A: Postponing the audit might delay identifying critical issues.

Option B: Recruiting a full-time staff auditor is not a practical immediate solution and could be resource-intensive.

Option C: Changing to a consulting engagement does not solve the knowledge gap for future audits.

Providing training aligns with the IIA Standard 1210.A1, which requires internal auditors to possess the knowledge, skills, and other competencies needed to perform their responsibilities.

IIA Standard 1210: Proficiency and Due Professional Care.

IIA Standard 1230: Continuing Professional Development.

IIA guidance emphasizes conflict of interest checks in the hiring process for CAEs to ensure the integrity and independence of the internal audit function. Functional reporting to the board or similar oversight is also a standard recommendation but not a hiring precondition​​.

Due professional care requires internal auditors to understand the engagement objectives and scope fully, ensuring their work is thorough and appropriate for the given situation. It involves exercising appropriate diligence and professionalism during audits. References:

IIA Standard 1220: Due Professional Care.

IIA Practice Guide: Demonstrating Due Professional Care.