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IIA IIA-CIA-Part1: Certified Internal Auditor - Part 1, The Internal Audit Activitys Role in Governance, Risk, and Control

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Question 1

Which of the following is not an objective of internal control?

A. Compliance.

B. Accuracy.

C. Efficiency.

D. Validation.

Correct Answer:D

Question 2

An internal auditor is conducting an assessment of the organization's fraud prevention program using the COSO enterprise risk management framework. According to this framework, which of the following activities would fall under the control environment component for preventing fraud?
* 1. The organization uses an automated authority approval matrix to control payments.
* 2. The organization has a whistleblower hotline that is available to employees.
* 3. Annually, every manager completes a comprehensive fraud assessment of his or her department.
* 4. Annually, the organization reviews and communicates the code of expected behavior.

A. 1 and 2.

B. 1 and 3.

C. 2 and 3.

D. 2 and 4.

Correct Answer:D

Question 3

Which of the following statements accurately describes an internal auditor's responsibility with regard to due professional care?

A. An internal auditor should express an opinion only when consensus with top management has been achieved.

B. An internal auditor's opinion should be based on experience and free of all bias.

C. An internal auditor's opinion should be based on factual evidence.

D. An internal auditor's opinion should be limited to the effectiveness of internal controls.

Correct Answer:C

Question 4

According to IIA guidance, which of the following should be formally documented in the internal audit charter?

A. The internal audit activity's responsibility for imposing risk management processes.

B. The internal audit activity's responsibility for the organization's governance framework.

C. The nature of consulting services provided by the internal audit activity.

D. The budgeting process for the internal audit activity.

Correct Answer:C

Question 5

Which of the following control activities is the most effective to ensure users' levels of access are appropriate for their current roles?

A. The human resources department generates a monthly list of terminated and transferred employees and requests IT to update the user access as required.

B. Standardized user access profiles are developed and the appropriate access profiles are automatically assigned to new or transferred employees.

C. System administrator rights are assigned to one user in each department who can update user access of terminated or transferred employees immediately.

D. Department managers are required to perform periodic user access reviews of relevant systems and applications.

Correct Answer:D

Question 6

Which of the following statements is true regarding assurance services provided to clients outside of the organization?

A. Assurance services for outside clients are not covered under the internal audit charter.

B. Assurance services for outside clients must be approved on a case-by-case basis by the board of directors.

C. The nature of assurance services for outside clients should be defined in the internal audit charter.

D. The nature of assurance services for outside clients is the same as for internal clients.

Correct Answer:C

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