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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 IIA-CHAL-QISA Hot Questions - IIA-CHAL-QISA Detailed Study Dumps

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IIA Qualified Info Systems Auditor CIA Challenge Exam Sample Questions (Q50-Q55):

NEW QUESTION # 50
An organization does not have a formal risk management function. According to the Standards, which of the following are conditions where the internal audit activity may provide risk management consulting?
1. There is a clear strategy and timeline to migrate risk management
responsibility back to management.
2. The internal audit activity has the final approval on any risk
management decisions.
3. The internal audit activity gives objective assurance on all parts
of the risk management framework for which it is responsible.
4. The nature of services provided to the organization is documented in the internal audit charter.

A. 2 and 3 only.
B. 2 and 4 only.
C. 1 and 4 only.
D. 1 and 3 only.

Answer: C

Explanation:
Conditions for Risk Management Consulting by Internal Audit:
Strategy and Timeline for Migration: The internal audit activity can provide risk management consulting if there is a clear strategy and timeline to transfer risk management responsibilities back to management. This ensures a temporary arrangement with a defined end goal.
Documentation in Internal Audit Charter: The nature of services provided, including risk management consulting, must be documented in the internal audit charter. This formalizes the internal audit activity's role and ensures transparency and alignment with organizational governance.

NEW QUESTION # 51
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 is most helpful in organizations that have rapid changes
C. Management by objectives is most helpful in mechanistic organizations with rigidly defined tasks.
D. Management by objectives helps organizations to distinguish clearly strategic goals from operational goals

Answer: A

NEW QUESTION # 52
Applying ISO 31000; which of the following is part of the external context for risk management?

A. The regulatory and competitive environment.
B. Risk treatment method based on risk evaluation.
C. The method of determining the risk level
D. Organizational culture, objectives, and processes.

Answer: A

Explanation:
* ISO 31000 Context:ISO 31000 provides guidelines on risk management, emphasizing the importance of understanding the external context.
* External Context:This includes external factors such as regulatory and competitive environments that can impact the organization's risk profile.
* Regulatory Environment:Understanding regulations helps the organization ensure compliance and avoid legal risks.
* Competitive Environment:Analyzing the competitive environment allows the organization to anticipate market changes and manage competitive risks.
References:
* ISO 31000 Risk Management Guidelines.

NEW QUESTION # 53
An internal auditor is asked to determine why the production line for a large manufacturing organization has been experiencing shutdowns due to unavailable parts The auditor learns that production data used for generating automatic purchases via electronic interchange is collected on personal computers connected by a local area network (LAN) Purchases are made from authorized vendors based on both the production plans for the next month and an authorized materials requirements plan (MRP) that identifies the parts needed per unit of production. The auditor suspects the shutdowns are occurring because purchasing requirements have not been updated for changes in production techniques. Which of the following audit procedures should be used to test the auditor's theory?

A. Develop a report of excess inventory and compare the inventory with current production volume.
B. Select a sample of production estimates and MRPs for several periods and trace them into the system to determine that input is accurate
C. Compare purchase orders generated from test data Input into the LAN with purchase orders generated from production data for the most recent period.
D. Compare the parts needed based on current production estimates and the MRP for the revised production techniques with the purchase orders generated from the system for the same period

Answer: D

Explanation:
To test the theory that shutdowns are due to outdated purchasing requirements, the auditor should compare the parts needed according to the revised production techniques with the purchase orders generated. This comparison will reveal whether the system has been updated to reflect changes in production techniques, thereby identifying any discrepancies causing the unavailability of parts.

NEW QUESTION # 54
An internal auditor discovered fraud while performing an audit of an organization's procurement process. Which of the following describes the greatest benefit of using forensic auditing techniques in this scenario?

A. Enhanced capability to prevent frauds from occurring.
B. Greater assurance that procurement frauds will be detected in a timely manner
C. Improved capability of evaluating fraud risks within the organization.
D. Greater understanding of fraud through better evidence collection

Answer: D

Explanation:
Forensic auditing techniques provide a systematic approach to collecting and analyzing evidence related to fraud. The primary benefit of these techniques is the enhanced ability to gather comprehensive and detailed evidence, which leads to a greater understanding of how the fraud occurred and who was involved. This detailed evidence collection supports legal proceedings and helps in identifying control weaknesses that need to be addressed to prevent future frauds.

NEW QUESTION # 55
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