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CIA Part 1

Create a professional and engaging image representing internal auditing, featuring elements like audit documents, a laptop, a magnifying glass, and a boardroom setting, conveying a sense of seriousness and professionalism.

CIA Part 1 Quiz

Test your knowledge on internal auditing with our CIA Part 1 Quiz! This engaging quiz covers essential topics that aspiring auditors need to understand, from the internal audit charter to auditor independence.

5 multiple-choice questions
Focus on key internal audit principles
Assess your readiness for the CIA exam

5 Questions1 MinutesCreated by AuditingEagle502

Which of the following is not true with regard to the internal audit charter?

A. It defines the authorities and responsibilities for the internal audit activity.

B. It specifies the minimum resources needed for the internal audit activity.

C. It provides a basis for evaluating the internal audit activity.

D. It must be approved by senior management and the board.

Which of the following actions would be a violation of auditor independence?

A. Continuing on an audit assignment at a division for which the auditor will soon be responsible as the result of a promotion

B. Reducing the scope of an engagement due to budget restrictions

C. Participating on a task force that recommends standards of control for a new distribution system

D. Reviewing a purchasing agent’s contract drafts prior to their execution

The Standards require that internal auditors possess which of the following skills?

A. Internal auditors should understand human relations and be skilled in dealing with people.

B. Internal auditors should be able to recognize and evaluate the materiality and significance of deviations from good business practices and then correct them.

C. Internal auditors should be experts on subjects such as economics, commercial law, taxation, finance, and information technology.

D. Internal auditors should be skilled in written communication, but oral communication is not important.

A chief audit executive (CAE) has been requested by the audit committee to conduct an engagement at a chemical factory as soon as possible. The engagement will include reviews of environmental health and safety (EH&S) management and processes. The CAE knows that the internal audit activity does not possess the EH&S knowledge necessary to conduct such an engagement. The CAE should

A. Begin the engagement and incorporate EH&S training into next year’s planning to prepare for a follow-up engagement.

B. Suggest to the audit committee that the factory’s own EH&S staff conduct the engagement.

C. Obtain appropriate support from an EH&S professional.

D. Defer the engagement and tell the audit committee that it will take several months to train internal audit staff for such an engagement.

To ensure that due professional care has been taken at all times during an engagement, the internal auditor must always

A. Ensure that all financial information related to the audit is included in the audit plan and examined for nonconformance or irregularities.

B. Ensure that all audit tests are fully documented.

C. Consider the possibility of nonconformance or irregularities to a reasonable extent during an engagement.

D. Communicate any noncompliance or irregularity discovered during an engagement promptly to the audit committee.

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