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IIA IIA-CHAL-QISA Exam Syllabus Topics:

Topic	Details
Topic 1	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 2	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 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 Qualified Info Systems Auditor CIA Challenge Exam Sample Questions (Q76-Q81):

NEW QUESTION # 76
Which of the following best describes why an internal audit activity would consider sending written preliminary observations to the audit client?

A. Written observations allow for more interpretation.
B. Written and verbal observations are equally effective.
C. Written observations help the internal auditors express the significance.
D. Written observations limit premature agreement

Answer: B

Explanation:
Audit workpapers are essential documents that provide evidence of the audit work performed and the conclusions reached.
* Option A: While review notes can be useful, they do not need to be retained if they do not add value to the audit evidence.
* Option B: Audit workpaper documentation policies are typically established by the internal audit department, not reviewed or approved by the audit committee.
* Option C: Management should not review the workpapers for accuracy as this could compromise the independence of the audit.
* Option D: Preparing workpapers helps auditors document their work thoroughly, facilitating learning and professional development.

NEW QUESTION # 77
A newly appointed chief audit executive (CAE) started analyzing the organization's policies in an attempt to customize them to address internal audit specifics. Which of the following organizationwide practices is most likely to be acceptable to the CAE?

A. Internal auditors' performance evaluation is primarily based on both client satisfaction surveys and cost savings identified from the audits
B. Standard training for each employee, including internal auditors, is 10 hours per year.
C. Hiring practices include requiring potential auditors to disclose any significant stock ownership in the organization.
D. To enhance efficiency, Internal auditors should not be rotated regularly among engagements

Answer: A

Explanation:
The statistical model indicates that daily sales have a direct relationship with the cost of ingredients used and an inverse relationship with rainy days.
* Option A: On a rainy day, if total sales are greater than expected compared to the cost of ingredients used, it may indicate discrepancies that could be a sign of employee theft. For instance, if ingredients are used but not reflected in the sales, it suggests that items might be missing (stolen).
* Option B: On a sunny day, lower-than-expected sales compared to the cost of ingredients could indicate wastage but not necessarily theft.
* Option C and D: Both scenarios where total sales and the cost of ingredients are higher or lower than expected do not specifically point to theft without additional context.

NEW QUESTION # 78
Which of the following situations is most likely to heighten an internal auditors professional skepticism regarding potential fraud?

A. The accounts payable supervisor has requested advances against her monthly salary on several occasions
B. A procurement manager does not have the expected academic credentials for his position
C. A salesperson frequently complains about the organization's policy on sales commissions.
D. A financial accountant is absent from work frequently due to regular medical procedures

Answer: B

Explanation:
Professional skepticism is an essential attitude for internal auditors, particularly when assessing the risk of fraud. According to the IIA's Practice Guide "Internal Auditing and Fraud", one of the red flags that may heighten an internal auditor's professional skepticism is the presence of employees whose qualifications or credentials do not match the requirements of their positions. In this case, a procurement manager lacking the expected academic credentials raises concerns because it could indicate potential fraudulent activities such as unqualified decision-making or manipulation of procurement processes.

NEW QUESTION # 79
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 fixed cost per unit will vary directly based on the number of bicycles produced during the production cycle.
B. if the number of bicycles produced is increased by 30 percent, the fixed cost per unit will decline.
C. The total variable cost will vary proportionally and inversely with the number of bicycles produced during a production run.
D. if the number of bicycles produced is increased by 15 percent, the variable cost per unit will increase proportionally

Answer: B

Explanation:
Introduction:
Understanding cost behavior is crucial in managing production and financial performance in manufacturing.
Cost Characteristics:
Fixed costs remain constant in total but vary per unit with changes in production volume. Variable costs vary directly with production volume but remain constant per unit.

NEW QUESTION # 80
Which of the following best demonstrates internal auditors performing their work with proficiency?

A. Internal auditors adhere to The IIA's Code of Ethics.
B. Internal auditors work collaboratively with their engagement team.
C. Internal auditors complete a program of continuing professional development.
D. internal auditors meet with operational management at each phase of the audit process.

Answer: C

Explanation:
Proficiency in internal auditing is not only about technical skills but also involves continuous education and staying updated with the latest practices and standards in the field.
Option D reflects the commitment to ongoing professional development, ensuring that internal auditors maintain and enhance their proficiency over time.
The Institute of Internal Auditors (IIA) emphasizes the importance of continuing professional development as a means to ensure auditors remain competent in their roles

NEW QUESTION # 81
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