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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 (Q149-Q154):

NEW QUESTION # 149
An auditor discovers that all production database administrators have unrestricted access to modify financial transaction records.
Which control weakness is MOST significant?

A. Lack of documentation.
B. Excessive privileged access.
C. Inadequate business continuity planning.
D. Insufficient user training.

Answer: B

Explanation:
Unrestricted privileged access to financial data creates a substantial risk of unauthorized modification, fraud, and data integrity compromise.

NEW QUESTION # 150
An organization uses the management-by-objectives method, whereby employee performance is based on defined goals. Which of the following statements is true regarding this approach?

A. It is a more successful approach when adopted by mechanistic organizations.
B. it is more successful when goal-setting Is performed not only by management, but by all team members, including lower-level staff
C. It is particularly helpful to management when the organization is facing rapid change.
D. it is particularly successful in environments that are prone to having poor employer-employee relations

Answer: B

Explanation:
* Management-by-Objectives (MBO):This method involves setting clear, measurable objectives that employees and management agree on. It aligns individual performance with organizational goals.
* Inclusive Goal-Setting:When goal-setting is inclusive, involving all team members, it fosters a sense of ownership and commitment to the goals. This collaboration enhances motivation and accountability.
* Empirical Evidence:Research and practical experience indicate that MBO is more effective when employees at all levels are involved in the goal-setting process, as it leads to better performance and job satisfaction.
* IIA Standards and Best Practices:Encouraging participation from all levels aligns with the principles of good governance and effective management, which are central to the IIA's standards and best practices.
References:
* Principles of Management-by-Objectives (MBO) .

NEW QUESTION # 151
According to IIA guidance, which of the following statements about analytical procedures is true?

A. Analytical procedures are computer-assisted audit techniques
B. Analytical procedures compare information against expectations
C. Analytical procedures provide internal auditors with explainable results.
D. Analytical procedures begin after the engagements planning phase.

Answer: B

Explanation:
Analytical Procedures: These procedures involve evaluating financial information by studying plausible relationships among both financial and non-financial data. They help auditors form expectations about account balances or other financial data and then compare actual results to these expectations.
Purpose: To identify any unusual or unexpected results that might indicate potential misstatements.
IIA Guidance on Analytical Procedures:
Comparison Against Expectations: This is the core aspect of analytical procedures. Auditors develop expectations based on their knowledge of the business, industry trends, historical data, and other relevant factors.
Engagement Phases: Analytical procedures can be applied in various phases of an audit, not just after the planning phase.

NEW QUESTION # 152
A multinational organization has multiple divisions that sell their products internally to other divisions When selling internally, which of the following transfer prices would lead to the best decisions for the organization?

A. Full cost
B. Market price of the product.
C. Variable cost plus a markup.
D. Full cost plus a markup.

Answer: B

Explanation:
Using the market price of the product for internal transfer pricing leads to the best decisions for the organization because it reflects the true economic value of the goods or services being transferred. This method promotes efficiency and fairness within the divisions.
Economic Value: Market price reflects the true economic value, ensuring that the internal transactions are conducted at fair and competitive prices.
Performance Measurement: It provides a consistent basis for evaluating the performance of different divisions, as they are measured against external market conditions.
Resource Allocation: Helps in optimal allocation of resources by ensuring that internal transactions are economically justified and comparable to external transactions.

NEW QUESTION # 153
In the years after the mid-service point of a depreciable asset, which of the following depreciation methods will result in the highest depreciation expense?

A. Sum of the years' digits.
B. Double-declining balance.
C. Straight line.
D. Declining balance.

Answer: B

Explanation:
Depreciation methods allocate the cost of an asset over its useful life. Different methods impact the depreciation expense reported each year.

NEW QUESTION # 154
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