Download Latest IIA-CIA-Part1 Questions

Page: 6 / 8

Question 24

Which of the following is an indicator of ineffective third-party risk management?

Options:

Sourcing of third parties does not follow public procurement law.

Violations of service conditions trigger either fines or termination.

Due diligence of third parties is conducted only after contract signing.

The right-to-audit clause is limited by personal data protection regulations.

Question 25

Which statement is accurate regarding reporting on the quality assurance and improvement program (OAIP) to conform with the International Standards for the Professional Practice of Internal Auditing?

Options:

The chief audit executive (CAE) should report all stages of the OAlP's development and key milestones.

The CAE should report only corrective action plans that meet external assessor or stakeholder requirements.

The CAE should establish the form and content of program communication so that it is in alignment with the internal audit activity charter.

The CAE should disclose program details only after both internal and external assessments have been completed.

Question 26

Which of the following describes the primary objective when implementing a risk management framework?

Options:

To achieve planned profitability for business expansion.

To enhance an organization's confidence in achieving strategy.

To strengthen corporate governance standards.

To eliminate business risks and uncertainties.

Question 27

Which of the following principles of The IIA's Code of Ethics implies that internal auditors should refrain from performing assurance services when there is an impairment to audit independence that has not been declared?