Wiley CIA Exam Review 2020, Part 2

S. RAO VALLABHANENI is an educator, author, publisher, consultant, and practitioner in business with more than thirty years of management and teaching experience in auditing, accounting, manufacturing, and IT consulting in both public and private sectors. He is the author of more than sixty trade books, study guides, review guides, monographs, audit guides, and articles in auditing and IT. He holds twenty-four professional certifications in business management in Accounting, Auditing, Finance, Information Technology, Manufacturing, Quality, and Human Resource.

• Preface viiCIA Exam Content Syllabus and Specifications xiCIA Exam-Taking Tips xvProfessional Standards 1I.1 New IPPF Defined 2II.2 Introduction to the IIA’s Standards 2III.3 IIA’s International Standards 4Domain 1 Managing the Internal Audit Activity 831.1 Internal Audit Operations 831.2 Risk-Based Internal Audit Plan 961.3 Assurance Engagements 1021.4 Consulting Engagements 2271.5 Coordination between Internal Auditors and Others 2651.6 Communicating and Reporting 2721.7 Sample Practice Questions 276Domain 2 Planning the Engagement 2792.1 Objectives and Scope of Audit Engagement 2792.2 Risk Assessment for Auditable Areas 2822.3 Engagement Work Program 2902.4 Audit Resources for Audit Engagements 2932.5 Sample Practice Questions 295Domain 3 Performing the Engagement 2993.1 Information-Gathering Tools and Techniques 2993.2 Sampling Methods and Statistical Analysis 3073.3 Data Analysis and Evaluation Techniques 3493.4 Audit Analytics 3693.5 Audit and Legal Evidence 3893.6 Audit Workpapers 3963.7 Engagement Supervision 3993.8 Sample Practice Questions 404Domain 4 Communicating Results and Monitoring Progress 4114.1 Communication Quality and Elements 4114.2 Audit Reporting Process 4234.3 Residual Risk and Risk Acceptance 4254.4 Monitoring Audit Progress 4294.5 Sample Practice Questions 432Sample Practice Questions, Answers, and Explanations 435Appendix A: Characteristics of Effective Auditors and Audit Function 467Appendix B: Sarbanes-Oxley Act of 2002 475Appendix C: Big Data and Data Mining 483Appendix D: Operational Audits 511Appendix E: Information Technology Audits 617Appendix F: Environmental Compliance Audits 741Appendix G: Human Resources Compliance Audits 751Appendix H: Quality Audits 761Appendix I: Information Security Protection Methods 787General Glossary 799Risk Glossary 841Sampling and Statistics Glossary 865About the Author 881Index 883