IIA-CIA-Part1 Exam Dumps - IIA CIA Questions and Answers

An internal auditor exercises due professional care by enhancing knowledge, skills, and other competencies through ongoing professional development. This action is essential to maintain the necessary proficiency and competency in performing audit tasks, thereby ensuring the quality and effectiveness of the audit work aligns with professional standards and meets the evolving needs of the organization.References: Institute of Internal Auditors (IIA) - International Professional Practices Framework (IPPF)

When the CEO frequently bypasses written policies and procedures, it indicates a significant deficiency in the effectiveness of the organization's system of internal control. This behavior can undermine the control environment and set a precedent that policies and procedures can be disregarded, thereby affecting the overall control culture of the organization. In such cases, the auditor should report that the system of internal control is not effective.References: IIA guidance on evaluating the effectiveness of an organization's system of internal control.

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The oversight of an organization's risk management framework is primarily the responsibility of the board of directors. The board's role includes ensuring that risk management processes are integrated with overall organizational processes and that the strategies and policies regarding risk management are effectively managed and aligned with the organization’s objectives. Operational management, internal auditors, and the head of risk management each play roles within the framework established by the board but do not have overall oversight responsibility.References: Institute of Internal Auditors (IIA) - International Professional Practices Framework (IPPF)

According to IIA guidance, business ethics may indeed vary within an organization with both domestic and foreign operations. This variation is due to differing cultural norms, legal requirements, and business practices across countries, which may necessitate adaptations in ethical policies and practices. While the core principles of ethics might be universally upheld, their application can differ based on local contexts.References: Institute of Internal Auditors (IIA) - Code of Ethics, International Professional Practices Framework (IPPF)