Free IIA-CIA-Part1 Exam Braindumps

According to IIA guidance, which of the following is an area in which the internal auditor should be proficient?

1. A. Management principles.
2. B. Computerized information systems.
3. C. Internal audit standards, procedures, and techniques.
4. D. Fundamentals of accounting, economics, and finance.

Correct Answer: C

An organization is facing a financial downturn and needs to impose major budget reductions to all departments. According to MA guidance, which of the following actions is most appropriate for the board to take to evaluate the potential impact on the internal audit activity?

1. A. Ask management to determine which internal audit engagements are lower risk and could be considered for removal from the annual audit plan.
2. B. Ask appropriate stakeholders for their opinion on the potential impacts of reducing the scope of the internal audit plan.
3. C. Ask the chief audit executive to determine whether budgetary limitations impede the ability of the internal audit activity to execute its responsibilities.
4. D. Ask The human resources department to determine how the annual compensation and salary of the audit staff could be adjusted to achieve savings.

Correct Answer: C

Which of the following best demonstrates the authority of the internal audit activity?

1. A. Suggesting alternatives to decision makers.
2. B. Improving the integrity of information.
3. C. Determining the scope of internal audit services.
4. D. Achieving engagement objectives.

Correct Answer: C