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IIA-CIA-Part1 Certification Exam is an essential step for internal auditors looking to enhance their knowledge and skills and demonstrate their commitment to the internal auditing profession's highest standards. By passing IIA-CIA-Part1 exam, internal auditors can distinguish themselves as experts in essential internal auditing principles and practices and advance their careers in the field.
IIA-CIA-Part1 (Essentials of Internal Auditing) exam is a rigorous and comprehensive certification exam that tests the candidate's knowledge and understanding of the core principles and practices of internal auditing. Passing IIA-CIA-Part1 Exam is an important step towards earning the Certified Internal Auditor (CIA) designation and establishing oneself as a competent and skilled professional in the field of internal auditing.
IIA-CIA-Part1 Exam, also known as Essentials of Internal Auditing, is a certification exam conducted by the Institute of Internal Auditors (IIA). IIA-CIA-Part1 exam is designed to assess the candidates' knowledge and skills in the field of internal auditing. It is the first part of the CIA (Certified Internal Auditor) certification program, which is a globally recognized certification for internal auditors.
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IIA Essentials of Internal Auditing Sample Questions (Q587-Q592):
NEW QUESTION # 587
Which of the following factors is not likely to affect the level of inherent risk associated with an application system?
- A. The system uses complex technology.
- B. The system is strategic.
- C. Controls over the system appear reliable.
- D. The system is not a critical operating system.
Answer: C
NEW QUESTION # 588
Which of the following situations allows for the most objectivity on the part of an internal auditor?
- A. Assessing testing procedures in a new computer system.
- B. Comparing current environmental activities against legislation.
- C. Performing a risk assessment of a new financial instrument.
- D. Drawing conclusions from a sample of financial transactions.
Answer: B
Explanation:
Section: Volume B
NEW QUESTION # 589
Which of the following statements is not true about red flags?
- A. Red flags do not necessarily mean that fraud exists.
- B. There is a scarcity of established literature on red flags.
- C. Red flags can point auditors to intentional wrongdoing, errors and omissions, inefficiency, and conflicts of interest.
- D. It can be challenging to quantify red flags.
Answer: B
Explanation:
Section: Volume D
Explanation/Reference:
NEW QUESTION # 590
Which of the following statements is correct regarding corporate compensation systems and related bonuses?
I.A bonus system should be considered part of the control environment of an organization and should be considered in formulating a report on internal control.
II.Compensation systems are not part of an organization's control system and should not be reported as such.
III.An audit of an organization's compensation system should be performed independently of an audit of the control system over other functions that impact corporate bonuses.
- A. II and IIIonly
- B. Ionly
- C. IIIonly
- D. IIonly
Answer: B
NEW QUESTION # 591
Which segregation of duties would best reduce the risk of payroll fraud?
- A. Human resources personnel add employees and enter employee bank information. Payroll personnel process hours, and paychecks are automatically deposited in the employee's bank account.
- B. Human resources personnel add employees, and payroll personnel process hours and enter employee bank account numbers. Paychecks are automatically deposited in the employee's bank account.
- C. Human resources personnel add employees, payroll personnel process hours, and human resources personnel deliver paychecks to employees.
- D. Human resources personnel add employees, review and submit payroll hours to the payroll department for processing, and deliver paychecks to employees.
Answer: B
NEW QUESTION # 592
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