Question: What concepts are covered in Part I?
Answer: Part 1 has questions that require you to demonstrate both proficiency and awareness. On all but the fifth section, the exam will concern itself with proficiency. There are six sections containing a total of 100 multiple-choice questions.
The first section is titled “Comply with the IIA’s Attribute Standards.” This section tests your knowledge of ethical standards as an internal auditor. It focuses on developing objectivity, knowledge, skills, and professionalism.
The second section is concerned with risk assessment. The focus here is on establishing a framework, identifying resource requirements, coordinating internal audit activities with others, and selecting engagements.
The third section concerns Organizational Governance. It focuses on communication, reporting, assessment, and following up.
The fourth section is about the other roles and responsibilities of an internal auditor. These include upholding ethics/compliance, risk management, privacy issues, and information or physical security.
Section five is the only section in which you need to show both proficiency and awareness. This section concerns governance, risk, and control knowledge elements. The topics discussed are corporations, risk management and control, different types of management, and types of control.
The final section discusses plan engagements. It outlines how to communicate with an engagement client, conduct a survey of the engagement, risk assessment, coordination of audit efforts, determine the correct procedures, and prepare an engagement program.