Wiley CIA Exam Review 2023 Focus Notes, Part 2
Practice of Internal Auditing
Wiley CIA Exam Review Series

Convenient, portable study tools for the 2023 Part 2 CIA exam

Wiley CIA Exam Review 2023 Focus Notes, Part 2: Practice of Internal Auditing offer practical and hands-on flashcard-style notes on the second part of the challenging Certified Internal Auditor (CIA) exam.

Perfect for targeted review sessions focused on essential, core concepts covered on Practice of Internal Auditing, the 2023 Focus Notes include:

• Managing the Internal Audit Activity
• Planning the Engagement
• Performing the Engagement
• Communicating Engagement Results and Monitoring Progress

Created for motivated CIA candidates sitting for Part 2 in 2023, Wiley CIA Exam Review 2023 Focus Notes, Part 2: Practice of Internal Auditing are the proven solution for testing your knowledge in quick study sessions leading up to exam day.

Preface ix

CIA Exam Content Syllabus and Specifications xi

CIA Exam-Taking Tips xviii

Professional Standards 1

Performance Standards 2

Domain 1: Managing the Internal Audit Activity (20%) 26

Internal Audit Operations 27

Risk-Based Internal Audit Plan 39

Assurance Engagements 51

Consulting Engagements 285

Coordination between Internal Auditors and Others 341

Communicating and Reporting 357

Domain 2: Planning the Engagement (20%) 366

Objectives and Scope of Audit Engagement 367

Risk Assessment for Auditable Areas 375

Engagement Work Program 391

Audit Resources for Audit Engagements398

Domain 3: Performing the Engagement (40%) 400

Information-Gathering Tools and Techniques 401

Sampling Methods and Statistical Analysis 417

Data Analysis and Evaluation Techniques 470

Audit Analytics 503

Audit and Legal Evidence 549

Audit Workpapers 556

Engagement Supervision 561

Domain 4: Communicating Results and Monitoring Progress (20%) 565

Communication Quality and Elements 566

Audit Reporting Process 587

Residual Risk and Risk Acceptance 592

Monitoring Audit Progress 598

Appendix Risks to Internal Audit Activity 603

The IIA’s Three-Lines-of-Defense Model 611

Audit Metrics and Key Performance Indicators 616

Characteristics of Effective Auditors and Audit Function 622

Sarbanes-Oxley Act of 2002 636

About the Author 649

Index 651

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 fields.