Free IIA-CIA-Part1 Exam Braindumps

Which of the following is a requirement for an assurance engagement that may not be for a consulting engagement?

1. A. The internal audit activity has to ensure team members' objectivity is not impaired.
2. B. Auditors cannot participate in an assurance engagement of a function for which they previously performed a consulting engagement.
3. C. The scope and objective of the engagement is agreed upon based on the engagement client's needs.
4. D. The internal audit activity must ensure management actions have been implemented effectively or risk accepted.

Correct Answer: B

A new internal audit activity is creating its first charter. According to IIA guidance, which of the following objectives would be appropriate for inclusion in the charter?

1. A. Continuously monitor the organization's overall risk activities in relation to its risk appetite.
2. B. Evaluate the adequacy and effectiveness of the organization's governance activities.
3. C. Oversee the establishment and administration of an effective risk management program.
4. D. Assist management in implementing recommended control improvements.

Correct Answer: C

Sometimes, internal audit staff may partner with operating managers to rank risks. Which of the following outcomes may be the most beneficial aspects of this strategy?
* 1. Reappraising risks levels.
* 2. Providing accurate information to management.
* 3. Marketing the internal audit activity.
* 4. Planning safeguards for assets in high-risk areas.

1. A. 1 and 2.
2. B. 1 and 3.
3. C. 2 and 3.
4. D. 3 and 4.

Correct Answer: B

Which of the following is the most common way that occupational fraud is detected?

1. A. Internal audits.
2. B. Whistleblower hotline.
3. C. Key controls.
4. D. External audits.

Correct Answer: B

An organization has implemented a software system that requires a supervisor to approve transactions that would cause treasury dealers to exceed their authorized limit. This is an example of which of the following types of controls?

1. A. Preventive controls.
2. B. Detective controls.
3. C. Soft controls.
4. D. Directive controls.

Correct Answer: A