CIA Part 1 — Governance, Risk, Control and Quality flashcards
10 of 72 cards free to study here · 3 topics · the whole deck is built into Willys
COSO internal control components and principles, COSO ERM concepts and risk responses, control types, fraud schemes and red flags, fraud response, and the quality assurance and improvement program with conformance statements.
Learn deck · part of IIA Certified Internal Auditor (CIA), Parts 1–3 · written against: IIA CIA exam syllabus effective 2025, aligned with the Global Internal Audit Standards (2024). Updated 2026-10-10.
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Into which three categories of objectives does COSO's 2013 Internal Control — Integrated Framework sort an entity's objectives?Operations, reporting and compliance. Reporting covers both internal and external, and both financial and nonfinancial, reporting.Governance Risk Management and Control › COSO Internal Control
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How many principles support the five components of COSO's 2013 internal control framework?17 principles, each tied to one component: five for the control environment, four for risk assessment, three for control activities, three for information and communication, and two for monitoring.Governance Risk Management and Control › COSO Internal Control
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Under COSO 2013, when can management conclude that its system of internal control is effective?When each of the five components and the relevant principles is present and functioning, and the components operate together in an integrated way, so there is no major deficiency.Governance Risk Management and Control › COSO Internal Control
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Commitment to integrity, board oversight, clear structure and authority, commitment to competence, and accountability are principles of which COSO component?The control environment, the first of the five components.Governance Risk Management and Control › COSO Internal Control
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In internal audit terms, what characterizes fraud?An intentional act aimed at an unjust or unlawful advantage, personal or business, carried out through deceit, concealment, dishonesty, forgery, misappropriation of assets or information, or breach of trust. Both individuals and organizations can commit it.Fraud Risks › Fraud Concepts and Schemes
Watch out: The 2017 definition called fraud an illegal act and said it needs no threat of violence; the 2024 Standards drop both points, so an unjust advantage is enough even if the act is not itself unlawful. -
Which three main categories make up the ACFE's occupational fraud classification system?Asset misappropriation, corruption, and financial statement fraud.Fraud Risks › Fraud Concepts and Schemes
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Which occupational fraud category is most frequent, and which usually causes the largest median loss?Asset misappropriation is the most frequent but has the lowest median loss; financial statement fraud is the least frequent but has the highest median loss, according to ACFE studies.Fraud Risks › Fraud Concepts and Schemes
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What does a quality assurance and improvement program cover?All aspects of the internal audit function. It evaluates conformance with the Standards and progress against the mandate and performance objectives, and drives continuous improvement.Quality and Conformance › Internal Assessments
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What are the two parts of an internal quality assessment?Ongoing monitoring of the function's performance, and periodic self-assessments, which may be carried out by people inside the organization with enough knowledge of internal audit practice.Quality and Conformance › Internal Assessments
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Which activities count as ongoing monitoring in a quality program?Engagement supervision and review, standard methodology and workpaper templates, post-engagement stakeholder feedback, and tracking performance metrics.Quality and Conformance › Internal Assessments
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About these cards
Review status: Second-reader reviewed, with corrections applied.
Checked against:
- IIA CIA Exam Expanded Test Specifications, 2025 syllabus (V2.09.2024): Part 1, Internal Audit Fundamentals, Sections C and D; the quality and conformance cards cover Part 3, Section C, Quality of the Internal Audit Function — topic outline only; no text copied
- IIA Global Internal Audit Standards (issued 9 January 2024, effective 9 January 2025), including the Glossary, theiia.org, checked 2026-10-13 — no text copied
- ACFE, Occupational Fraud 2026: A Report to the Nations (acfe.com), checked 2026-10-13 — findings summarized in original words; no text copied
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