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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 (Q48-Q53):

NEW QUESTION # 48
According to IIA guidance, which of the following statements is true regarding audit workpapers?

A. Review notes on audit workpapers must be retained to provide a record of questions raised by the reviewer.
B. Audit workpaper documentation policies are reviewed and approved by the audit committee.
C. Management of the department being audited should review the prepared workpapers for accuracy.
D. Audit workpaper preparation contributes to the professional development of the internal audit staff.

Answer: D

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 # 49
When is an organic organizational structure likely to be more successful than a mechanistic organizational structure?

A. When an organization is subjected to strong political and social pressures
B. When an organization is infrequently affected by technological advances
C. When a manufacturing organization has stable demand for its products.
D. When a manufacturer has reliable resources and suppliers.

Answer: A

Explanation:
An organic organizational structure is more flexible and adaptive compared to a mechanistic structure. It is characterized by less formalization, decentralized decision-making, and a greater reliance on lateral communication. This type of structure is beneficial in environments that are dynamic and uncertain, such as when an organization faces strong political and social pressures.
The flexibility of an organic structure allows the organization to respond more effectively to external changes and pressures.

NEW QUESTION # 50
Internal auditors map a process by documenting the steps in the process, which provides a framework for understanding Which of the following is a reason to use narrative memoranda?

A. To document which outputs support other activities.
B. To identify individuals who perform key roles
C. To explain a simple process.
D. To create a detailed risk assessment

Answer: C

Explanation:
Step by Step Comprehensive Detailed Explanation with References:
* Introduction:
* Internal auditors use process mapping to document and understand the steps involved in a process.
* Purpose of Narrative Memoranda:
* Narrative memoranda are written descriptions that outline the steps of a process, often used when the process is straightforward.
* Options Analysis:
* Option A: Detailed risk assessment is usually more comprehensive and may require flowcharts or other detailed diagrams.
* Option B: Identifying individuals who perform key roles typically requires organization charts or responsibility matrices.
* Option C: Narrative memoranda are best suited for explaining simple processes in a clear and concise manner.
* Option D: Documenting outputs that support other activities might require more detailed mapping techniques.
* Conclusion:
* Narrative memoranda are effective for explaining simple processes, providing a straightforward and understandable framework.

NEW QUESTION # 51
According to IIA guidance, which of the following is true regarding typical fraud schemes?
1.A diversion occurs when an employee has an undisclosed personal economic interest in a transaction that adversely affects the organization
2.Tax evasion is intentional reporting of false or misleading information on a tax return by an organization to reduce taxes owed.
3.Skimming involves stealing cash or assets from the organization and is normally concealed by adjusting the organization's records
4Disbursement fraud occurs when a person causes the organization to issue a payment for fictitious goods or services

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

Answer: D

Explanation:
* Diversion typically involves redirecting resources or assets for personal use, not just having an undisclosed interest.
* Tax evasion involves deliberate falsification of financial information to avoid tax liabilities.
* Skimming is taking cash before it is recorded in the accounting system, usually difficult to detect.
* Disbursement fraud involves creating fictitious invoices or vendors to divert funds.

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

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

Answer: B

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
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