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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	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
Topic 3	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.

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IIA Qualified Info Systems Auditor CIA Challenge Exam Sample Questions (Q71-Q76):

NEW QUESTION # 71
Which of the following situations is most likely to heighten an internal auditors professional skepticism regarding potential fraud?

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

Answer: D

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 # 72
Which of the following statements is true regarding the management-by-objectives method?

A. Management by objectives helps organizations to keep employees motivated.
B. Management by objectives helps organizations to distinguish clearly strategic goals from operational goals
C. Management by objectives is most helpful in mechanistic organizations with rigidly defined tasks.
D. Management by objectives is most helpful in organizations that have rapid changes

Answer: A

Explanation:
Definition of Management by Objectives (MBO): Management by Objectives is a performance management approach where managers and employees work together to identify, plan, organize, and communicate objectives. This method involves setting clear, measurable goals with defined timelines.
Key Benefits:
* Employee Motivation: MBO aligns individual goals with organizational objectives, fostering a sense of ownership and engagement among employees. By participating in goal-setting, employees are more motivated to achieve these objectives, as they see a direct link between their efforts and organizational success.
* Performance Measurement: Clear objectives allow for effective performance measurement and provide a basis for performance appraisals and feedback.
Comparison with Other Options:
* Rapid Changes: Option A is incorrect because MBO is not necessarily best suited for environments with rapid changes, as it relies on predefined objectives that may quickly become outdated.
* Mechanistic Organizations: Option B is incorrect because MBO is more effective in flexible, dynamic organizations rather than rigid, mechanistic ones.
* Strategic vs. Operational Goals: Option D is incorrect because MBO does not inherently distinguish between strategic and operational goals; it focuses on achieving specific measurable objectives.
References:
* MBO helps in increasing employee motivation by involving them in the goal-setting process and aligning their objectives with the organization's goals, which enhances engagement and performance.

NEW QUESTION # 73
An accounts payable clerk has recently transferred into the internal audit activity and has been assigned to an engagement related to accounts payable processes for which he was previously responsible Which of the following is the best action for the new internal auditor to take?

A. If it is an assurance engagement, accept the assignment because the chief audit executive hadknowledge of the internal auditor's previous role when this engagement was assigned.
B. If it is a consulting engagement, decline the assignment and ask to be reassigned, because in a consulting engagement the auditor must not assess operations for areas in which they were previously responsible.
C. if it is a consulting engagement, accept the assignment because direct knowledge of the existing accounts payable processes will provide depth and add more value
D. If it is an assurance engagement, accept the assignment because direct knowledge of the existing accounts payable processes will provide depth and add more value

Answer: B

Explanation:
* Conflict of Interest: For both assurance and consulting engagements, it is crucial to avoid conflicts of interest. An auditor assessing processes they were previously responsible for can compromise
* objectivity and independence.
* IIA Standards: The IIA's Code of Ethics and standards emphasize maintaining objectivity and avoiding conflicts of interest. This is particularly important in consulting engagements where the auditor's recommendations could be influenced by prior roles.
* Appropriate Action:
* Assurance Engagements: For assurance engagements, prior knowledge might be beneficial but still raises concerns about independence. Declining the consulting engagement due to previous responsibilities ensures objectivity.

NEW QUESTION # 74
The organization's internal audit charter was last updated six years ago to update the charter, which of the following actions is most appropriate for the chief audit executive to take?

A. Wait for the next external assessment and address all of the missing information in the charter based on the recommendations from the external assessment team
B. Use an internal audit charter template from another organization that operates within the same industry.
C. Identify an individual within the internal audit activity who has in-depth knowledge of mandatory IIA guidance elements to address any gaps or areas of the current version of the charter that could be improved
D. Perform a review of HA guidance to become acquainted with the latest mandatory elements prior to updating the charter

Answer: D

Explanation:
The chief audit executive should review the latest guidance from the Institute of Internal Auditors (IIA) to ensure the internal audit charter complies with current standards. This approach ensures the charter reflects up-to-date practices and mandatory elements, maintaining the integrity and effectiveness of the internal audit function.
References:
* "International Standards for the Professional Practice of Internal Auditing," which provides mandatory guidance on the internal audit charter.

NEW QUESTION # 75
Which of the following is the BEST example of a preventive IT control?

A. Exception reporting.
B. Log monitoring.
C. Security incident investigation.
D. Multi-factor authentication.

Answer: D

Explanation:
Multi-factor authentication prevents unauthorized access before it occurs, making it a preventive control.

NEW QUESTION # 76
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