Free IIA-CIA-Part1 Exam Braindumps

According to The MA Code of Ethics, which of the following is one of the rules of conduct for objectivity?

1. A. Internal auditors shall continually improve their proficiency and effectiveness and quality of their services.
2. B. Internal auditors shall respect and contribute to legitimate and ethical objectives of the organization.
3. C. Internal auditors shall not accept anything that may impair or be presumed to impair their professional judgment.
4. D. Internal auditors shall be prudent in the use and protection of information acquired in the course of their duties.

Correct Answer: C

Which of the following is an example of a risk avoidance strategy?

1. A. Hedging against exchange rate variations.
2. B. Limiting access to an organization's data center.
3. C. Selling a nonstrategic business unit.
4. D. Outsourcing a high-risk activity.

Correct Answer: C

Which of the following is the best way to detect fraud?

1. A. Conduct anti-fraud training.
2. B. Perform background investigations.
3. C. Implement process controls.
4. D. Activate a whistleblower hotline.

Correct Answer: D

In the area of business acumen, which of the following competencies would be the sole responsibility of an internal audit staff member?

1. A. Maintaining industry-specific knowledge appropriate to the organization.
2. B. Assessing how IT contributes to organization objectives, risks, and relevance to audit.
3. C. Maintaining technical aspects of accounting standards and reporting processes.
4. D. Understanding regulatory and legal framework and assessing its relevance.

Correct Answer: D

A large sales organization maintains a system of internal control according to the COSO model and has updated its code of conduct. This change relates to which component of the COSO framework?

1. A. Control activities.
2. B. Information and communication.
3. C. Commitment.
4. D. Control environment.

Correct Answer: D