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Exam Code: IIA-CIA-PART1
Exam Name: Certified Internal Auditor – Part 1, The Internal Audit Activity’s Role in Governance, Risk, and Control
Updated: Feb 13, 2017
Q&As: 566
Exam Information: https://www.pass4itsure.com/iia-cia-part1.html
Printable PDF Google Drive:https://drive.google.com/file/d/0BwxjZr-ZDwwWVzFGZ0lrS1dhdEk/view

The top three sales representatives for a company consistently include non-allowable charges on their
expense reports. Line management is reluctant to deny reimbursement of the charges for fear of losing the
sales representatives. This situation has the greatest negative impact on which of the following internal
control components?
A. Monitoring.
B. Control environment.
C. Information and communication.
D. Control activities.
Correct Answer: B
Which of the following factors affects the control risk of a company?
A. Potential problems like technological obsolescence.
B. Unusual pressures on management.
C. Complex accounts that require expert valuations.
D. Segregation of duties.
Correct Answer: D
Human resources and payroll are separate departments. Which of the following combinations would
provide the best segregation of duties?
A. Human resources personnel add employees, payroll personnel process hours, and human resources
personnel deliver paychecks to employees.
B. Human resources personnel add employees, review and submit payroll hours to the payroll department
for processing, and deliver paychecks to employees.
C. 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.
D. Payroll personnel add employees and enter employee bank account numbers but process hours only
as approved by the human resources department. Paychecks are automatically deposited in the
employee’s bank account.
Correct Answer: C Reference:http://www.itcertlab.com/cisco-210-060-official-cert.html

Which of the following is an appropriate role for the board in governance?
A. Preparing written organizational policies that relate to compliance with laws, regulations, ethics, and
conflicts of interest.
B. Ensuring that financial statements are understandable, transparent, and reliable.
C. Assisting the internal audit activity in performing annual reviews of governance.
D. Working with the organization’s attorneys to develop a strategy regarding current litigation, pending
litigation, or regulatory proceedings governance.
Correct Answer: B
According to the International Professional Practices Framework, which of the following is the appropriate
division of responsibilities for the coordination of internal and external audit efforts?
I. Oversight of Work
Coordination of Activities
Chief audit executive
Senior management
II. Board
Chief audit executive
III. Chief financial officer
Chief audit executive
IV. Board
Chief financial officer
A. I
B. II.
D. IV.
Correct Answer: B
According to the Standards, the organizational status of the internal audit activity:
A. Must be sufficient to permit the accomplishment of its audit responsibilities.
B. Is best when the reporting relationship is direct to the board of directors.
C. Requires the board’s annual approval of the audit schedules, plans, and budgets.
D. Is guaranteed when the charter specifically defines its independence.
Correct Answer: A
A high-volume retailer of consumer goods has used point-of-sale data to record sales and update
inventory records for several years. When price changes are scheduled, corporate headquarters
downloads a price change file to a computer server system at each store. Each store’s assistant manager
is responsible for checking the server for downloads and running the program that updates the store’s
price file at the authorized price update time. In comparison with having headquarters initiate the price
update centrally, this approach to price updating will most likely:
A. Decrease the risk that customers will be undercharged consistently for sales items.
B. Decrease the risk that item prices will sometimes be inaccurate.
C. Increase the risk that customers will be undercharged consistently for sales items.
D. Increase the risk that item prices will sometimes be inaccurate.
Correct Answer: D
An internal auditor is reviewing a new automated human resources system. The system contains a table of
pay rates which are matched to the employee job classifications. The best control to ensure that the table
is updated correctly for only valid pay changes would be to:
A. Limit access to the data table to management and line supervisors who have the authority to determine
pay rates.
B. Require a supervisor in the department, who does not have the ability to change the table, to compare
the changes to a signed management authorization.
C. Ensure that adequate edit and reasonableness checks are built into the automated system.
D. Require that all pay changes be signed by the employee to verify that the change goes to a bona fide
Correct Answer: B
the following competencies?
I. Proficiency in applying internal auditing standards, procedures, and techniques.
II. Proficiency in accounting principles and techniques.
III. An understanding of management principles.
IV. An understanding of the fundamentals of economics, commercial law, taxation, finance, and
quantitative methods.
A. I only
B. II only
C. I and III only
D. I, III, and IV only
Correct Answer: D
Which of the following is not an appropriate role for internal auditors after a disaster occurs?
A. Monitor the effectiveness of the recovery and control of operations.
B. Correct deficiencies of the entity’s business continuity plan.
C. Recommend future improvements to the entity’s business continuity plan.
D. Assist in the identification of lessons learned from the disaster and the recovery operations.
Correct Answer: B


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