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IIA-CIA-Part3 dumps questions answers

IIA IIA-CIA-Part3 Dumps

Exam Code:
IIA-CIA-Part3
Exam Name:
Business Knowledge for Internal Auditing
Last Update: Mar 26, 2025
416 Questions with Explanation
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IIA-CIA-Part3 FAQs

The passing score is typically 600 on a scale of 250 to 750, but this can be subject to change depending on the exam version.

While Parts 1 and 2 focus on internal audit basics and practices, Part 3 covers broader business knowledge and strategic risk management, requiring a more comprehensive understanding of organizational dynamics.

The IIA-CIA-Part3 is part of the broader CIA certification, which is more general in scope, while CISA is more IT audit-focused, and CFE is specific to fraud examination.

The difficulty varies by individual expertise; however, the IIA-CIA-Part3 is generally considered less technical than the CPA but requires a deep understanding of internal audit and risk management practices.

The certification can lead to senior-level positions, including Chief Audit Executive or Internal Audit Manager, by demonstrating advanced business acumen and internal audit knowledge.

Yes, the CIA certification, including Part 3, is globally recognized and respected, making it valuable for professionals seeking international career opportunities.

Passing the exam can enhance job security by solidifying your expertise in internal auditing and making you a more competitive candidate for promotions.

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Business Knowledge for Internal Auditing Questions and Answers

Questions 1

An organization with global headquarters in the United States has subsidiaries in eight other nations. If the organization operates with an ethnocentric attitude, which of the following statements is true?

Options:

A.

Standards used for evaluation and control are determined at local subsidiaries, not set by headquarters

B.

Orders, commands, and advice are sent to the subsidiaries from headquarters

C.

People of local nationality are developed for the best positions within their own country

D.

There is a significant amount of collaboration between headquarters and subsidiaries

Questions 2

When using data analytics during a review of the procurement process, what is the first step in the analysis process?

Options:

A.

Identify data anomalies and outliers

B.

Define questions to be answered

C.

Identify data sources available

D.

Determine the scope of the data extract

Questions 3

According to IIA guidance, which of the following statements is true regarding analytical procedures?

Options:

A.

Data relationships are assumed to exist and to continue where no known conflicting conditions exist

B.

Analytical procedures are intended primarily to ensure the accuracy of the information being examined

C.

Data relationships cannot include comparisons between operational and statistical data

D.

Analytical procedures can be used to identify differences, but cannot be used to identify the absence of differences

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