CIA Exam Part 1 – Essentials of Internal Auditing is the first exam for Certified Internal Auditor Certification. In order to enhance your preparation for the IIA-CIA-Part1 exam, Passcert offers the most up-to-date CIA Exam Part 1 – Essentials of Internal Auditing IIA-CIA-Part1 Dumps which encompass all the essential topics and content necessary to ensure your success in passing the exam with ease. CIA Exam Part 1 IIA-CIA-Part1 Dumps provide you with a strong foundation and the necessary knowledge to confidently tackle the exam questions and achieve a passing score effortlessly. Don't miss out on this invaluable opportunity to boost your preparation and enhance your chances of success!

The Certified Internal Auditor (CIA) certification is the only internationally recognized credential for internal auditors. The CIA exam, administered by the Institute of Internal Auditors (IIA), is a three-part test that measures candidates' knowledge of internal auditing disciplines. The CIA exam measures candidates' knowledge of disciplines related to and affecting the practice of internal auditing, including technical competencies. Candidates must be able to apply and organize their knowledge in a logical manner and be able to communicate their conclusions clearly and concisely.  

Part 1 – Essentials of Internal Auditing

Part 2 – Practice of Internal Auditing

Part 3 – Business Knowledge for Internal Auditing

The revised CIA exam Part 1 is well aligned with The IIA's International Professional Practices Framework (IPPF) and includes six domains covering the foundation of internal auditing; independence and objectivity; proficiency and due professional care; quality assurance and improvement programs; governance, risk management, and control; and fraud risk. Part One tests candidates' knowledge, skills, and abilities related to the International Standards for the Professional Practice of Internal Auditing, particularly the Attribute Standards (series 1000, 1100, 1200, and 1300) as well as Performance Standard 2100.?

The IIA-CIA-Part1 CIA Exam Part One: Essentials of Internal Auditing exam consists of 125 multiple-choice questions. You will have two hours and 30 minutes to complete the exam. 

1. Foundations of Internal Auditing (15%)  

2. Independence and Objectivity (15%)  

3. Proficiency and Due Professional Care (18%)  

4. Quality Assurance and Improvement Program (7%)  

5. Governance, Risk Management and Control (35%)  

6. Fraud Risks (10%)

To maximize your chances of success in the Part 1 – Essentials of Internal Auditing IIA-CIA-Part1 Exam, it is crucial to adopt a comprehensive approach to your preparation. Here are some detailed steps that you can follow:

1. Thoroughly study the exam topics and content: Start by thoroughly understanding the exam syllabus and the key concepts that will be tested. Dedicate sufficient time to each topic, ensuring that you have a solid grasp of the underlying principles.

2. Practice with sample questions and exam simulations: Familiarize yourself with the format and style of the exam by practicing with sample questions and taking exam simulations. This will not only help you become comfortable with the types of questions you may encounter but also improve your time management skills.

3. Join study groups or online forums to discuss and clarify doubts: Engaging with fellow candidates in study groups or online forums can be highly beneficial. It provides an opportunity to exchange ideas, discuss difficult concepts, and clarify any doubts you may have. Collaborative learning can significantly enhance your understanding and retention of the material.

4. Create a study schedule and stick to it: Establishing a structured study schedule is essential for effective exam preparation. Divide your study time into manageable blocks, allocating specific periods for each topic. This will help you maintain focus and ensure that you cover all the necessary content.

5. Take advantage of available study resources: Make use of a wide range of study resources to supplement your preparation. Textbooks, online courses, study guides, and other relevant materials can provide valuable insights and explanations. Choose resources that align with your learning style and preferences.

6. Seek guidance from experienced professionals or mentors: If possible, seek guidance from experienced professionals or mentors in the field of internal auditing. Their expertise and practical insights can offer a unique perspective and help you gain a deeper understanding of the subject matter.

1. Which of the following is an example of risk monitoring to ensure a system is performing as intended?

A. Checking the progress of risk treatment plans

B. Considering the consequence and likelihood of risks

C. Documenting the risks and their areas of impact

D. Communicating to management about risks

Answer: A

2. Which of the following statements best represents the duo professional care that is required of internal auditor’s?

A. Internal auditors should perform assurance procedures to ensure that all significant risks are identified.

B. Internal auditor should not perform consulting engagements for operations for which they had previous responsibilities.

C. Internal auditors should consider the cost of assurance in relation to the potential benefits.

D. Internal auditors should device internal audit programs to confirm that the results are accurate.

Answer: A

3. Which of the following concepts is emphasized in the Mission of Internal Audit?

A. Support of good governance and controls.

B. Enhancement of organizational value.

C. Protection of tangible and intangible assets.

D. Provision of professional advisory and assurance services.

Answer: B

4. Which of the following practices is generally most effective to protect internal audit objectivity?

A. Ensuring regular documentation of auditor skills and experience in the workpapers.

B. Basing performance evaluations heavily on customer satisfaction surveys.

C. Prohibiting auditors from accepting gifts from audit clients or potential clients.

D. Ensuring that auditors have a balance of both operational and internal audit responsibilities.

Answer: B

5. Which of the following actions would be most effective to help an internal auditor determine how successful the organization has been in communicating the existence of its ethics hotline?

A. Reviewing the number of anonymous hotline allegations against employee complaints.

B. Surveying employees to determine whether they are aware of the hotline.

C. Benchmarking the average time to investigate hotline complaints.

D. Tracking the number of hotline allegations per total number of employees.

Answer: B

6. An internal auditor is reviewing employee travel expenses from the previous six months for fraud.

Which of the following tests would best detect instances where personal travel has been claimed?

A. Verifying whether claims have been properly authorized for payment

B. Verifying whether claims are properly supported by invoices or other documents.

C. Confirming that all claims are within the limits of the organization's travel policy.

D. Reconciling claims against business the requests that were approved by supervisors

Answer: D

7. Which of the following best demonstrates internal auditors performing their work with proficiency?

A. Internal auditors meet with operational management at each phase of the audit process.

B. Internal auditors adhere to The IIA’s Code of Ethics.

C. Internal auditors work collaboratively with their engagement team.

D. Internal auditors complete a program of continuing professional development.

Answer: C

8. Which of the following practices is generally most effective to protect internal audit objectivity?

A. Ensuring regular documentation of auditor skills and experience in the workpapers.

B. Basing performance evaluations heavily on customer satisfaction surveys.

C. Prohibiting auditors from accepting gifts from audit clients or potential clients.

D. Ensuring that auditors have a balance of both operational and internal audit responsibilities.

Answer: B