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IIA-CIA-Part1 Dumps With Exact Questions and Answers

Exact2pass Provides 100% Valid Essentials of Internal Auditing IIA-CIA-Part1 Exam dumps Questions and answers which can helps you to Pass Your Certification Exam in First Attempt.

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IIA-CIA-Part1 Questions and Answers

Question # 1

Which of the following is true for consulting engagements'?

A.

The internal audit activity must ensure management actions have been effectively implemented or risk accepted

B.

A work program for the engagement is not required but may be developed

C.

The nature of consulting services does not have to be in the internal audit charter

D.

Risks identified from the engagement must be considered when evaluating the organization's risk management processes

Question # 2

An investment advisory firm purchased professional liability insurance to offer protection from lawsuits brought by customers claiming they received poor or erroneous advice. Which of the following best describes this risk management technique?

A.

Mitigation.

B.

Acceptance

C.

Transfer.

D.

Avoidance

Question # 3

Which of the following statements is true regarding consulting engagements?

A.

Internal auditors cannot provide consulting services related to operations for which they had previous responsibilities.

B.

The nature of consulting services to be performed by internal auditors must be defined in the internal audit charter

C.

If internal auditors have potential impairments to objectivity related to the proposed consulting engagement, the engagement must be declined.

D.

If internal auditors lack the knowledge, skills, or other competencies needed to perform the consulting engagement, the engagement can proceed with proper disclosures.

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