CIA Exam: Part 1 Questions and Answers
100% Solved
objectivity Correct Answ_unbiased mental attitude, audits can audit and believe no quality
compromises have been made
organizational independence Correct Answ_CAE needs to be independent to do role,
confirms annually to board, functional reporting to board, administrative reporting to CEO
functional reporting to the board Correct Answ_board approves audit charter, audit plan,
decisions re CAE personnel, CAE reports on IA performance, results of engagements, other
activities as needed, board determines if the scope of audit is acceptable and if resources are
sufficient
administrative reporting to the CEO Correct Answ_budgeting/accounting, HR
administration, internal communications and information, administration of IA policies and
procedures
conflict of interest Correct Answ_where a person of trust has a competing professional or
personal interest, exists even if nothing bad happens
, proficiency Correct Answ_have the right skills for the job, collectively as a shop, don't need
to have expertise of all things
due professional care Correct Answ_be professional, not infallible, provide reasonable
assurance, reasonable care and competence
quality assurance and improvement program Correct Answ_CAE communicates results to
board, at least annually, enables evaluation of ia activity, conformity, assess efficacy and
efficiency of the program; ongoing and periodic
qaip evaluates Correct Answ_conformance, charter, contribution to org, compliance with
law, effectiveness of improvement, value added
IIA Quality Assessment Manual Correct Answ_basis for periodic internal assessments
external assessments Correct Answ_as least once every five years or more often if needed
100% Solved
objectivity Correct Answ_unbiased mental attitude, audits can audit and believe no quality
compromises have been made
organizational independence Correct Answ_CAE needs to be independent to do role,
confirms annually to board, functional reporting to board, administrative reporting to CEO
functional reporting to the board Correct Answ_board approves audit charter, audit plan,
decisions re CAE personnel, CAE reports on IA performance, results of engagements, other
activities as needed, board determines if the scope of audit is acceptable and if resources are
sufficient
administrative reporting to the CEO Correct Answ_budgeting/accounting, HR
administration, internal communications and information, administration of IA policies and
procedures
conflict of interest Correct Answ_where a person of trust has a competing professional or
personal interest, exists even if nothing bad happens
, proficiency Correct Answ_have the right skills for the job, collectively as a shop, don't need
to have expertise of all things
due professional care Correct Answ_be professional, not infallible, provide reasonable
assurance, reasonable care and competence
quality assurance and improvement program Correct Answ_CAE communicates results to
board, at least annually, enables evaluation of ia activity, conformity, assess efficacy and
efficiency of the program; ongoing and periodic
qaip evaluates Correct Answ_conformance, charter, contribution to org, compliance with
law, effectiveness of improvement, value added
IIA Quality Assessment Manual Correct Answ_basis for periodic internal assessments
external assessments Correct Answ_as least once every five years or more often if needed
