Wiley CIAexcel Exam Review 2015 Focus Notes: Part1, Internal Audit Basics
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More About This Title Wiley CIAexcel Exam Review 2015 Focus Notes: Part1, Internal Audit Basics

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Supplement your exam preparations with highly-targeted notes

Wiley CIA Exam Review 2015 Focus Notes: Part 1, Internal Audit Basics is a clear, concise supplement to the Wiley CIA Exam Review text. This easy-to-read resource assists you in digesting the incredible amount of knowledge necessary to pass the first part of the Certified Internal Auditor (CIA) examination, which is centered upon the basics of internal audits. You will review information, skills, and abilities—also called KSAs—that support the materials provided in the Wiley CIA Exam Review text. With organization that mirrors the review books and approachable content, this is a tried and true study aid that will bolster your exam prep schedule.

The CIA exam, a program of the Institute of Internal Auditors, measures the knowledge, skills, and competency required in the field of internal auditing. This exceedingly challenging examination, if passed, earns you the designation of Certified Internal Auditor, which is the only globally accepted certification designation for internal auditors and is the standard against which today's auditing professionals demonstrate their capabilities. As the exam is the most comprehensive review of this profession, it is critical that you have the right study materials to prepare for the test. Review the basics of internal auditsSupplement your current knowledge with extended information regarding key skills and abilitiesLeverage content that has been updated to reflect recent exam changesApproach your exam preparations in an organized, targeted manner

Wiley CIA Exam Review 2015 Focus Notes: Part 1, Internal Audit Basics is a fundamental resource for anyone taking the CIA exam.

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Preface vii

CIA Exam Study Preparation Resources ix

CIA Exam-Taking Tips and Techniques xiii

CIA Exam Content Specifications xv

Domain 1 Mandatory Guidance (35–45%) 1

Definition of Internal Auditing 1

International Standards 2

IIA’s Code of Ethics 135

Domain 2 Internal Control and Risk (25–35%) 138

Types of Controls 138

Management Control Techniques 156

Internal Control and Alternative Control Frameworks 160

Risk Vocabulary and Concepts 180

Fraud Risk Awareness 191

Risk Factors, Red Flags, and Symptoms of Fraud 193

Acts, Traits, and Profiles of Fraud Perpetrators 204

Domain 3 Conducting Internal Audit Engagements—Audit Tools and Techniques (28–38%) 210

Data-Gathering Tools and Techniques 210

Data Analysis and Interpretation 226

Process Mapping 257

Audit and Legal Evidence 263

Appendix Sarbanes-Oxley Act of 2002 273

Title II—Auditor Independence 274

Title III—Corporate Responsibility 275

Title IV—Enhanced Financial Disclosures 277

About the Author 279

Index 281

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