Real IT Certification Exams Questions & Dumps | Get Certified with CertQuestionsBank.com

Latest IIA-CIA-Part1 Exam Practice Questions

The practice questions for IIA-CIA-Part1 exam was last updated on 2025-04-26 .

Viewing page 1 out of 54 pages.

Viewing questions 1 out of 271 questions.

Question#1

Which of the following describes two duties that should not be performed by the same person?

A. Posting cash receipts and cash payments to the general ledger.

B. Posting bad debt write-offs and reconciling the accounts payable subsidiary ledger.

C. Distributing payroll checks and approving sales returns for credit.

D. Recording cash receipts and preparing bank reconciliations.

Explanation:
The duties that should not be performed by the same person to ensure adequate segregation of duties include recording cash receipts and preparing bank reconciliations. Combining these duties in one individual can lead to potential fraud or errors not being detected within the cash management processes.
Reference: Common principles of internal control regarding segregation of duties, aimed at preventing fraud and errors by ensuring no one individual has control over all aspects of a financial transaction.

Question#2

Which of the following is most accurate concerning corporate social responsibility?

A. A moral agent in an organization makes decisions that are based on the rules and regulations of the organization as they apply to human resources decisions

B. The utilitarian approaching deciding on ethical dilemmas is concerned with choosing the simplest solution that will apply to the most people

C. Ethics are not defined by laws but they are not a matter of free choice ethics are based on standards of conduct derived from shared principles and values

D. The individualism approach to ethical decision making is focused on implementing a customized long-term outcome that is most beneficial for the entire organization

Explanation:
Ethics are indeed not defined by laws alone; they are based on standards of conduct derived from shared principles and values. This statement most accurately reflects the nature of ethics in the context of corporate social responsibility (CSR), emphasizing that while ethics are guided by laws, they fundamentally originate from broader societal values and the ethical norms of the community.
Reference: Basic ethical principles in CSR and business ethics literature

Question#3

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

Explanation:
In consulting engagements, according to the IIA's Standards, a work program is not required but may
be developed. This allows internal auditors flexibility to design an approach that best fits the nature of the consulting engagement.
Reference: The IIA's International Standards for the Professional Practice of Internal Auditing (Standards), particularly the standards related to consulting activities.

Question#4

Which of the following corporate social responsibility strategies is associated with responding to outside pressure by assuming additional responsibility?

A. Accommodation.

B. Reaction.

C. Defense.

D. Proaction.

Explanation:
The corporate social responsibility (CSR) strategy of accommodation is associated with responding to outside pressures by assuming additional responsibility. This strategy typically involves making adjustments and accepting responsibilities to address the concerns of external stakeholders, thereby fostering a positive relationship and enhancing the company's social license to operate.
Reference: CSR strategies and responses in corporate governance literature

Question#5

An organization employs ongoing monitoring and is considering implementing periodic evaluations to assess the continuing effectiveness of its risk management process.
Which of the following statements Is true with regard to such periodic evaluations?

A. Periodic evaluations are considered to be less objective than ongoing monitoring.

B. Periodic evaluations can be more effective than ongoing monitoring.

C. Periodic evaluation frequency may depend on the results of ongoing monitoring.

D. Periodic evaluations frequently identify problems more quickly than ongoing monitoring.

Explanation:
Periodic evaluations are complementary to ongoing monitoring in an organization's risk management process. The frequency and extent of these evaluations often depend on findings from ongoing monitoring, which may highlight areas needing more in-depth review or indicate that existing controls are functioning effectively. This dependency ensures that periodic evaluations are targeted and efficient.
Reference: Institute of Internal Auditors (IIA) - Guidance on Risk Management and Monitoring Top of Form

Exam Code: IIA-CIA-Part1Q & A: 757 Q&AsUpdated: 2025-04-26

Get All IIA-CIA-Part1 Q&As

IIA-CIA-Part1 Online Practice Questions

Question#1

Question#2

Question#3

Question#4

Question#5

Top 20 Exams

Important Links

Know Us

Follow Us