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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 (Q15-Q20):

NEW QUESTION # 15
Which of the following best describes why an internal audit activity would consider sending written preliminary observations to the audit client?

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

Answer: C

Explanation:
Audit workpapers are essential documents that provide evidence of the audit work performed and the conclusions reached.

NEW QUESTION # 16
Which of the following statements is true regarding engagement planning?

A. The main purpose of the engagement work program is to determine the nature and timing of procedures required to gather audit evidence
B. The planning phase of the engagement should be completed and approved before the fieldwork of the engagement begins.
C. The scope of the engagement should be planned according to the internal audit activity's budgetand then aligned to the risk universe.
D. The audit engagement objectives should be based on operational managements view of risk objectives

Answer: B

Explanation:
Proper engagement planning is essential to ensure that the internal audit engagement is conducted effectively and efficiently.
Completing and approving the planning phase before starting the fieldwork ensures that all objectives, scope, resources, and methodologies are well-defined and agreed upon.
This preparation helps in aligning the engagement with the overall audit strategy and reduces the risk of scope changes or misalignments during fieldwork

NEW QUESTION # 17
An internal auditor believes that the internal audit activity's independence is impaired Which of the following actions should the internal auditor take first?

A. Report the impairment to senior management
B. Discuss the impairment with the audit manager.
C. Ascertain the best approach to disclose the impairment.
D. Decide on the extent of impact of the impairment

Answer: B

Explanation:
The board manages several key processes to ensure adequate governance within an organization, one of which is the development, approval, and execution of the strategic plan. This process is critical because it defines the organization's direction, goals, and the actions required to achieve these goals.
* Strategic Planning: The board plays a pivotal role in setting the organization's strategic direction, which includes establishing long-term goals and defining the means to achieve them.
* Performance Measurement: While the board may establish and measure performance objectives for the internal audit activity, this is part of a broader governance framework.
* Risk Management: The board also develops strategies to mitigate risks, ensuring that the organization can achieve its objectives effectively.
Thus, the most comprehensive governance-related process managed by the board involves strategic planning

NEW QUESTION # 18
When reviewing workpapers, engagement supervisors may ask for additional evidence or clarification via review notes. According to IIA guidance, which of the following statements is true regarding the engagement supervisors review notes?

A. Review notes provide documented proof that the engagement is supervised properly and must be retained for the quality assurance and improvement program
B. Management of the area under review must address the engagement supervisors review notes before the audit report can be finalized.
C. The chief audit executive must initial or sign the engagement supervisors review notes to provide evidence of appropriate engagement supervision.
D. The review notes may be cleared from the final documentation once the engagement supervisors concerns have been addressed

Answer: D

Explanation:
* Introduction:
* Review notes are comments or questions posed by engagement supervisors during the review of workpapers to ensure audit quality and completeness.
* IIA Guidance on Review Notes:
* According to the IIA, review notes serve as a tool for engagement supervisors to seek additional evidence or clarification.
* Options Analysis:
* Option A: This is correct as per IIA guidance, once concerns have been addressed, review notes can be cleared from the final documentation.
* Option B: Management does not typically address review notes; these are internal audit processes.
* Option C: The CAE does not need to initial or sign the review notes, as the engagement supervisor's review is sufficient.
* Option D: While review notes must be addressed, they do not necessarily need to be retained after being resolved.
* Conclusion:
* The correct procedure allows for review notes to be cleared once the engagement supervisor's concerns are addressed, streamlining the documentation process.

NEW QUESTION # 19
A regional entertainment organization is in the process of developing a corporate social responsibility (CSR) policy. Management invites ideas from employees when developing the CSR policy Which of the following is the most appropriate idea to include?

A. Generally, CSR activities are limited to the management of the organization, thus, employees do not have a responsibility for ensuring the success of CSR objectives.
B. The board Is responsible for ensuring that CSR objectives are established, risks are managed, performance is measured, and activities are appropriately monitored and reported
C. Management is responsible for ensuring that the organization's CSR principles are communicated, understood, and integrated into decision-making processes.
D. Management has overall responsibility for the effectiveness of governance, risk management, and internal control processes associated with CSR.

Answer: C

Explanation:
CSR Policy Development: In developing a Corporate Social Responsibility (CSR) policy, it is important that the principles of CSR are communicated and understood throughout the organization.
Integration into Decision-Making: Management's responsibility includes ensuring that CSR principles are not only communicated but also integrated into the organization's decision-making processes at all levels. This ensures that CSR is part of the organizational culture and operational strategies.
Board's Role: While the board has a role in overseeing and ensuring that CSR objectives are established and risks are managed, the day-to-day responsibility for integrating CSR into business operations lies with management.
IIA Guidance: According to IIA guidance, internal auditors should evaluate the design, implementation, and effectiveness of the organization's ethics-related objectives, programs, and activities, which include CSR initiatives (Standard 2110 - Governance).
References:
* Effective communication and integration of CSR principles ensure that the organization operates in a socially responsible manner, aligning its business practices with societal expectations and contributing to sustainable development.

NEW QUESTION # 20
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