IIA-CHAL-QISA VCE Dumps, Test IIA-CHAL-QISA Questions Answers

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IIA IIA-CHAL-QISA Exam Syllabus Topics:

Topic	Details
Topic 1	Practice of Internal Auditing: This domain covers strategies and policies related to planning, organizing, controlling of internal audit processes, and understanding administrative activities such as resourcing, recruiting, and staffing. Moreover, this domain covers goals of engagement and assessment criteria in addition to planning the engagement to ensure the identification of key risks and controls.
Topic 2	Business Knowledge for Internal Auditing: This domain covers the vital planning phases and efforts and common performance measures. It also includes ways for management to effectively lead and counsel people to increase their commitment. Also, the domain covers financial accounting and managerial accounting fundamentals and the treatment of various costs.
Topic 3	Essentials of Internal Auditing: This domain has topics such as foundations of internal auditing, independence aconcept of governance and CSR.nd objectivity, Proficiency and Due Professional Care, QA, and Managing Risks. The domain covers describing the

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IIA-CHAL-QISA VCE Dumps | Pass-Sure Test IIA-CHAL-QISA Questions Answers: Qualified Info Systems Auditor CIA Challenge Exam

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IIA Qualified Info Systems Auditor CIA Challenge Exam Sample Questions (Q163-Q168):

NEW QUESTION # 163
Which of the following situations best applies to an organization that uses a project, rather than a process, to accomplish its business activities?

A. A commercial construction company is hired to build a warehouse.
B. A clothing company designs, makes, and sells a new item.
C. A city department sets up a new firefighter training program.
D. A manufacturing organization acquires component parts from a contracted vendor

Answer: A

Explanation:
To determine which situation best applies to an organization that uses a project, rather than a process, to accomplish its business activities, it's important to understand the fundamental difference between a project and a process. A project is a temporary endeavor undertaken to create a unique product, service, or result. It has a defined beginning and end and is often constrained by time, budget, and resources. In contrast, a process is ongoing and repetitive, focusing on sustaining and improving existing operations.
* Option A: A clothing company designs, makes, and sells a new item.
* This scenario represents a combination of both project and process elements. The design and creation of a new item can be considered a project, but the ongoing making and selling of the item are part of a process. Hence, this does not exclusively apply to a project-based approach.
* Option B: A commercial construction company is hired to build a warehouse.
* This is a classic example of a project. The construction of a warehouse is a temporary endeavor with a specific goal, defined start and end dates, and constraints on time, cost, and resources. Once the warehouse is built, the project is complete.
* Option C: A city department sets up a new firefighter training program.
* Setting up a new training program could be seen as a project due to its temporary nature and specific goal. However, once the program is established, the training activities themselves will be ongoing, making this more aligned with a process.
* Option D: A manufacturing organization acquires component parts from a contracted vendor.
* This is part of the organization's regular procurement process and does not constitute a temporary, unique project.

NEW QUESTION # 164
According to IIA guidance, which of the following objectives was most likely formulated for a non-assurance engagement?

A. The internal audit activity will assess the effects of changes in maintenance strategy on the availability of production equipment
B. The internal audit activity will ensure equipment downtime risks have been managed in accordance with the internal policy.
C. The internal audit activity will inform management on the possible risks of moving the data warehouse to a cloud server maintained by a third party.
D. The internal audit activity will ascertain whether the data center security arrangements are compliant with agreed terms

Answer: C

Explanation:
Non-Assurance Engagements: Non-assurance engagements focus on advisory and consulting services rather than providing an independent assessment. These engagements aim to add value by offering insights and recommendations to management.
Objective Characteristics:
* Informing Management: Providing information on potential risks and advising on risk management strategies is typical for non-assurance engagements. This helps management make informed decisions and manage risks effectively.
* Assessment and Compliance: Options A, C, and D are more aligned with assurance engagements, where the internal audit activity provides an independent assessment or ensures compliance with policies and procedures.
IIA Guidance:
* Standard 2120 - Risk Management: Internal auditors must evaluate and contribute to the improvement of risk management processes, often through advisory services in non-assurance roles.
References:
* Non-assurance engagements focus on informing and advising management about risks, improvements, and strategic decisions, as exemplified by informing management about risks related to moving the data warehouse to a third-party cloud server.

NEW QUESTION # 165
A bicycle manufacturer incurs a combination of fixed and variable costs with the production of each bicycle. Which of the following statements is true regarding these costs?

A. The total variable cost will vary proportionally and inversely with the number of bicycles produced during a production run.
B. if the number of bicycles produced is increased by 15 percent, the variable cost per unit will increase proportionally
C. if the number of bicycles produced is increased by 30 percent, the fixed cost per unit will decline.
D. The fixed cost per unit will vary directly based on the number of bicycles produced during the production cycle.

Answer: C

NEW QUESTION # 166
Which of the following best describes the guideline for preparing audit engagement workpapers?

A. Workpapers should be understandable to external auditors and regulatory agencies
B. Workpapers should be understandable to the audit client and the board.
C. Workpapers should be understandable to another internal auditor who was not involved in the engagement.
D. Workpapers should be understandable to the auditor in charge and the chief audit executive

Answer: C

Explanation:
The guidelines for preparing audit engagement workpapers emphasize clarity, completeness, and accuracy to ensure that they can be easily understood and used by others within the auditing function.
* Option A: Workpapers should be understandable to the auditor in charge and the chief audit executive.
* While workpapers must indeed be clear to the auditor in charge and the chief audit executive, this guideline does not fully capture the broader requirement for understandability to other auditors.
* Option B: Workpapers should be understandable to the audit client and the board.
* Although transparency with the audit client and the board is important, workpapers are primarily internal documents used to support the audit process and conclusions.
* Option C: Workpapers should be understandable to another internal auditor who was not involved in the engagement.
* This is the most comprehensive requirement, ensuring that any internal auditor, even if not originally involved, can review the workpapers, understand the procedures performed, and the conclusions reached. This is crucial for maintaining continuity, quality control, and facilitating reviews or future audits.
* Option D: Workpapers should be understandable to external auditors and regulatory agencies.
* While external auditors and regulatory agencies may review workpapers, the primary audience is internal auditors, who need to ensure the workpapers are detailed and clear enough for effective internal use and review.

NEW QUESTION # 167
According to IIA guidance, which of the following statements is true regarding reporting the results of the quality assurance and improvement program?

A. Deficiencies within the internal audit activity must be reported to the board as soon as they are noted
B. Results of internal assessments need to be reported to the board at least once every five years.
C. The external assessor must present the findings from the external assessment to senior management and the board upon completion.
D. Results of ongoing monitoring of the internal audit activity's performance must be reported to senior management and the board at least annually

Answer: D

Explanation:
The IIA's International Standards for the Professional Practice of Internal Auditing (Standards) provide guidance on the reporting requirements of the quality assurance and improvement program. According to Standard 1320, "The chief audit executive must communicate the results of the quality assurance and improvement program to senior management and the board." This communication must include the results of both internal and external assessments and ongoing monitoring. Specifically, the results of ongoing monitoring of the internal audit activity's performance should be reported to senior management and the board at least annually. This ensures that the internal audit activity maintains its proficiency, enhances its effectiveness, and complies with the Standards.

NEW QUESTION # 168
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