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IIA IIA-CHAL-QISA Exam Syllabus Topics:

Topic	Details
Topic 1	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 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	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.

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IIA Qualified Info Systems Auditor CIA Challenge Exam Sample Questions (Q132-Q137):

NEW QUESTION # 132
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 and verbal observations are equally effective.
C. Written observations limit premature agreement
D. Written observations allow for more interpretation.

Answer: B

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

NEW QUESTION # 133
According to ISO 31000, which of the following statements is correct?

A. The board is responsible for setting the organizational attitude through tone at the top.
B. The internal audit activity will provide assurance over operating effectiveness but not over the design of risk management activities
C. The internal audit activity can give objective assurance on any part of the risk management framework for which it is responsible.
D. The framework is designed to be effective for organizations no matter how small.

Answer: D

Explanation:
According to ISO 31000, the risk management framework is scalable and applicable to organizations of all sizes, including small entities. The framework's principles are designed to be flexible and adaptable, ensuring they can be effectively implemented regardless of the organization's size.
Scalability: The principles and guidelines of ISO 31000 can be tailored to fit the specific context, resources, and complexity of any organization, making it a universal standard.
Flexibility: The framework supports organizations in integrating risk management practices into their operations at a level that suits their size and complexity.
Effectiveness: Regardless of the organization's size, the framework aims to enhance risk management practices and support better decision-making.

NEW QUESTION # 134
According to IIA guidance, which of the following objectives was most likely formulated for a non-assurance engagement?

A. 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.
B. The internal audit activity will assess the effects of changes in maintenance strategy on the availability of production equipment
C. The internal audit activity will ensure equipment downtime risks have been managed in accordance with the internal policy.
D. The internal audit activity will ascertain whether the data center security arrangements are compliant with agreed terms

Answer: A

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 # 135
An internal auditor has discovered that duplicate payments were made to one vendor Management has recouped the duplicate payments as a corrective action Which of the following describes managements action in this case?

A. A root cause-based action plan.
B. A cause-based action plan.
C. An effect-based action plan.
D. A condition-based action plan

Answer: C

Explanation:
* Introduction:
* When duplicate payments are identified and corrected, the management's response typically addresses the immediate impact or effect of the issue.
* Types of Action Plans:
* Condition-Based: Addresses the condition or the issue itself.
* Cause-Based: Focuses on the underlying cause of the issue.
* Root Cause-Based: Delves deeper to identify and address the fundamental reason for the issue.
* Effect-Based: Focuses on addressing the consequences or the effects of the issue.
* Options Analysis:
* Option A: A condition-based action plan would involve identifying and rectifying the condition that led to the duplicate payments.
* Option B: A cause-based action plan would address the immediate causes of the duplicate payments.
* Option C: A root cause-based action plan would investigate and mitigate the fundamental reasons behind the duplicate payments.
* Option D: An effect-based action plan addresses the consequences of the duplicate payments, such as recouping the funds, which is what management did in this scenario.
* Conclusion:
* Management's action in recouping the duplicate payments is an effect-based action plan as it focuses on addressing the impact of the error.

NEW QUESTION # 136
According to IIA guidance, which of the following best describes the purpose of a planning memorandum for an audit engagement?

A. it documents preliminary information useful to the audit team.
B. It documents events that could hinder the achievement of process objectives.
C. It documents the audit steps and procedures to be performed.
D. It documents existing measures that manage risks in the area under review

Answer: C

Explanation:
The planning memorandum serves as a comprehensive blueprint for an audit engagement, outlining the specific steps, procedures, and strategies that will be employed to carry out the audit. According to IIA guidance, the purpose of this document is to ensure that the audit team is well-prepared and that the audit process is systematic and thorough.
* Documentation of Audit Steps and Procedures:The primary purpose of a planning memorandum is to detail the steps and procedures that the audit team will follow. This ensures consistency and clarity throughout the audit process and provides a clear framework for team members to follow.
*

NEW QUESTION # 137
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