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Wiley CIAexcel Exam Review 2014: Part 1, Internal Audit Basics

Wiley CIAexcel Exam Review 2014: Part 1, Internal Audit Basics

S. Rao Vallabhaneni

ISBN: 978-1-118-96516-0

May 2014

288 pages

Select type: E-Book

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The definitive Certified Internal Auditor Exam preparation guide

Designed to help you rigorously and thoroughly prepare for the Certified Internal Auditor (CIA) Exam, Wiley CIA Exam Review 2014 Part 1, Internal Audit Basics covers the key topics on Part I of the exam. These include compliance with the IIA's attribute standards; establishing a risk-based plan to determine the priorities of internal audit activity; the internal audit activity's role in organizational governance; performing other internal audit roles and responsibilities; governance, risk, and control knowledge elements; and audit engagement planning.

  • Features a full exploration of theory and concepts
  • Prepares students to properly understand the weight given to topics on the exam and react accordingly
  • Includes indications of the level of difficulty for each topic in order to properly manage study time and focus areas
  • Offers comprehensive coverage of exam material along with a glossary of applicable terminology

Expert author S. Rao Vallabhaneni puts his twenty-five years of internal auditing and accounting management experience to work to bring you the definitive resource to help you prepare for the CIA Exam.

Preface vii

CIA Exam Study Preparation Resources xi

CIA Exam-Taking Tips and Techniques xiii

CIA Exam Content Specifications xv

Domain 1 Mandatory Guidance 1

1.1 Definition of Internal Auditing 1

1.2 International Standards 1

1.3 Code of Ethics 67

1.4 Sample Practice Questions 70

Domain 2 Internal Control and Risk 75

2.1 Types of Controls 75

2.2 Management Control Techniques 104

2.3 Internal Control and Alternative Control Frameworks 107

2.4 Risk Vocabulary and Concepts 120

2.5 Fraud Risk Awareness 125

2.6 Sample Practice Questions 139

Domain 3 Conducting Internal Audit Engagements 141

3.1 Data-Gathering Tools and Techniques 141

3.2 Data Analysis and Interpretation 170

3.3 Process Mapping 189

3.4 Audit and Legal Evidence 193

3.5 Sample Practice Questions 201

Sample Practice Questions, Answers and Explanations 207

Glossary 231

Index 253