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IIA-CIA-Part1 – Certified Internal Auditor - Part 1, The Internal Audit Activity's Role in Governance, Risk, and Control

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Showing 1–3 of 20 questions

Question 1 (Volume E)

The audit committee is concerned that the small size of the internal audit activity (IAA) makes it impractical to achieve full conformance with the Standards. To address this concern, which of the following actions is most appropriate for the CAE to take?

Select an option, then click Submit answer.

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    The CAE should agree with the audit committee and implement only those standards appropriate to the size of the IAA.
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    The CAE should request the audit committee to review the Standards to identify specifically which are creating the greatest concern.
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    The CAE should seek sufficient funding to increase audit resources to meet the minimum requirements of the Standards.
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    The CAE should explain that conformance with the Standards is essential and not dependent upon the size of the IAA.
Question 2 (Volume A)

Which of the following represents the correct order of the risk management process?

Select an option, then click Submit answer.

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    Resource allocation, risk management metrics, risk assessment, post-mortem analysis, effective communication.
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    Risk management metrics, resource allocation, risk assessment, effective communication, post-mortem analysis.
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    Risk assessment, resource allocation, risk governance and reporting, post-mortem analysis, feedback.
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    Resource allocation, risk monitoring, risk assessment, feedback, post-mortem analysis.
Question 3 (Volume D)

Which of the following controls within a spreadsheet would address the risk of logic errors?

1. The spreadsheet contains formulas that foot and cross-foot data.

2. The spreadsheet is locked to protect cell formulas from being inadvertently changed.

3. Spreadsheets are included in nightly backup processes.

4. Check-in and check-out software is used to manage version control.

Select an option, then click Submit answer.

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    1 and 2 only
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    1 and 3 only
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    2 and 4 only
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    3 and 4 only