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IIA-CIA-Part3-3P – CIA Exam Part Three: Business Knowledge for Internal Auditing

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Showing 1–3 of 20 questions

Question 1 (Exam Pool A)

Which of the following descriptions of the internal control system are indicators that risks are managed effectively?

1) Existing controls promote compliance with applicable laws and regulations.

2) The control environment is designed to address all identified risks to the organization.

3) Key controls for significant risks to the organization remain consistent over time.

4) Monitoring systems are in place to alert management to unexpected events.

Select an option, then click Submit answer.

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    1 and 3.
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    1 and 4.
  • ○

    2 and 3.
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    2 and 4.
Question 2 (Exam Pool A)

When an organization is choosing a new external auditor, which of the following is the most appropriate role for the chief audit executive to undertake?

Select an option, then click Submit answer.

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    Review and acquire the external audit service.
  • ○

    Assess the appraisal and actuarial services.
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    Determine the selection criteria.
  • ○

    Identify regulatory requirements to be considered.
Question 3 (Exam Pool B)

Which of the following budgets serves as a basis for the budgeted income statement?

Select an option, then click Submit answer.

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    All financial budgets
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    All operating budgets
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    Only the cash budget and budgeted balance sheet
  • ○

    Only the sales and production budgets