CIA Part 2 — Communicating Results and Monitoring flashcards
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Finding elements, communication quality, final and interim communications, overall conclusions, errors and risk acceptance escalation, follow-up, plus managing internal audit: strategy, plan changes, resources, coordination, board reporting and KPIs.
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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What does an internal audit strategy set out under the 2024 Standards?A vision, strategic objectives and supporting initiatives that help the function fulfil its mandate and stay aligned with the organization's strategy. The CAE develops it and reviews it periodically with the board and senior management.Managing the Internal Audit Function › Strategy and Methodologies
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What are internal audit methodologies?The policies, procedures and guidance the CAE establishes to direct how the function plans, performs and communicates its work. The CAE keeps them current and makes sure staff are trained in them.Managing the Internal Audit Function › Strategy and Methodologies
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An internal audit function moves to an agile approach with shorter sprints and frequent check-ins. What should the CAE do about the methodology?Update the methodology to describe the new approach, train the auditors, and make sure the new way of working still conforms with the Standards, for example on documentation and supervision.Managing the Internal Audit Function › Strategy and Methodologies
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What should the CAE present to the board along with the proposed internal audit plan?The risk assessment behind it, the resources it requires, and any significant risks the plan will not cover, with the effect of any resource limitations.Managing the Internal Audit Function › Risk-Based Internal Audit Plan
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Which elements make up a complete engagement finding?Criteria (what should be), condition (what is), cause (why the gap exists) and effect (the risk or impact), supported by a recommendation or management action plan.Communicating Engagement Results › Findings
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In an engagement finding, what is the condition?The factual description of what the auditor found, based on evidence, for example how many items failed a test.Communicating Engagement Results › Findings
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Why does the cause element of a finding matter so much?Because the recommendation must fix the root cause, not just the symptom. A finding with no cause tends to produce a fix that removes this year's exceptions but lets them return.Communicating Engagement Results › Findings
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What must the CAE establish to monitor engagement results?A process for confirming that management has implemented the recommendations or action plans, or that senior management has accepted the risk of not acting.Monitoring Progress › Follow-Up
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Who is responsible for implementing the agreed action plans?Management. Internal audit monitors and confirms progress; doing the remediation itself would be a management responsibility and would impair objectivity.Monitoring Progress › Follow-Up
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How do auditors confirm that an action plan has been implemented?By gathering evidence, such as documents, observation or retesting the control. The depth of confirmation depends on how significant the original finding was.Monitoring Progress › Follow-Up
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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): most topics fall under Part 3 Internal Audit Function, Sections A (Internal Audit Operations), B.2-B.3 (audit plan, coordination and reliance), C.3 (performance indicators) and D (Engagement Results and Monitoring); finding elements and engagement communication follow Part 2 Sections B.6, B.8 and C.2. IIA Global Internal Audit Standards (issued January 2024, effective 9 January 2025), Domains III-V — topic outline only; no text copied
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