Free IIA IIA-CIA-Part1 Exam Dumps Questions & Answers

A chief audit executive (CAE) is considering hiring a candidate who most recently worked for a large public accounting firm What would be the CAE's most likely concern regarding this candidate*?

• A.  Narrow industry experience
• B.  MPotential conflict of interest
• C.  Weak interpersonal skills
• D.  Low-level audit expertise

Which aspect of an internal audit charter relates to the reporting structure for the internal audit activity?

• A.  Objectivity.
• B.  Responsibility.
• C.  Organization.
• D.  Authority.

A chief audit executive (CAE) identifies that the internal audit activity lacks a necessary skill to perform a management request for a consulting engagement. According to IIA guidance, which of the following is the most appropriate action the CAE should take regarding the request?

• A.  Supervise the assigned internal auditors throughout the engagement.
• B.  Allow the internal auditors to acquire the needed skills while performing the engagement.
• C.  Decline the engagement request.
• D.  Assign the engagement to a more senior internal auditor.

In a retail organization, sales teams compete with each other to achieve and exceed sales targets. Each quarter, the members of the top sales team receive a bonus. In this environment, management should closely monitor for the emergence of which of the following potential risks?

• A.  Risks related to employee turnover.
• B.  Risks related to not achieving sales targets.
• C.  Risks related to employee competency.
• D.  Risks related to data manipulation.

Which of the following statements is true regarding the independent peer review process undertaken to fulfill the requirement for an external quality assessment?

• A.  Peer reviews are generally less cost-effective than hiring an external quality assessor
• B.  Individuals from a separate but related organization such as an affiliate may perform peer reviews
• C.  Two individuals in the same internal audit activity may perform an independent peer review as long as they do not report to the same audit manager
• D.  Individuals working in separate internal audit activities may be considered independent as long as do not report to the same chief audit executive