IIA Updated IIA-CIA-Part1 Exam Questions and Answers by tiffany

Developing a business continuity plan for contingent situations is the most effective preventative control for organizations facing business disruptions and respective financial losses. A business continuity plan helps ensure that critical services or products are delivered during a disruption, thus minimizing the risk of significant financial losses. This plan outlines the procedures and instructions an organization must follow in the face of such disasters, covering aspects such as business processes, assets, human resources, business partners, and more.

Best practices in risk management and business continuity planning.

Installing security cameras to identify unauthorized physical access to a warehouse is an example of detective controls. Detective controls are designed to identify and alert the occurrence of an unwanted or risky event, such as unauthorized access, after the fact, allowing for timely corrective action to be taken.

Basic control types and functions in security management

The chief audit executive (CAE) should decline the request to perform a review of suspicious transactions if it is a consulting engagement, particularly because she recently worked in the organization ' s accounting department. The close temporal proximity (six months ago) between her managerial role in the department and the present could impair her objectivity and independence in evaluating the transactions.

Institute of Internal Auditors (IIA) - International Professional Practices Framework (IPPF), Code of Ethics

The IIA recognizes that internal auditors can provide valuable consulting services that support the organization’s risk management without compromising their independence. Facilitating risk assessment workshops (option B) is a consulting service that internal auditors can perform, which helps the organization identify and evaluate risks in a structured way. This activity does not involve making management decisions or assuming management responsibilities, preserving the internal audit ' s advisory role.

IIA Standard 1000: " Consulting Services "