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IIA IIA-CHAL-QISA Exam Overview:

Certification Vendor:	The Institute of Internal Auditors (IIA)
Exam Name:	Qualified Info Systems Auditor CIA Challenge Exam
Exam Number:	IIA-CHAL-QISA
Available Languages:	Other languages as available through local Pearson VUE test centres, English
Exam Price:	$1,245 USD (approx)
Real Exam Qty:	150
Related Certifications:	Certified Information Systems Auditor (CISA) Certified Internal Auditor (CIA)
Certificate Validity Period:	Lifetime (CIA certification validity subject to IIA CPE requirements)
Exam Format:	Multiple choice
Passing Score:	600 (scaled score)
Exam Duration:	180 minutes
Sample Questions:	IIA IIA-CHAL-QISA Sample Questions
Exam Way:	Delivered via Pearson VUE test centres computer-based; no online proctoring
Pre Condition:	Must be an active Certified Information Systems Auditor (CISA) holder and provide proof of good standing.
Official Syllabus URL:	https://www.theiia.org/en/certifications/cia/challenge-exam/information-systems/

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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.

IIA Qualified Info Systems Auditor CIA Challenge Exam Sample Questions (Q141-Q146):

NEW QUESTION # 141
Which of the following is the most appropriate reason for a chief audit executive to conduct an external assessment more frequently than five years?

A. The parent organization's internal audit activity agreed to perform biennial reciprocal external assessments to provide greater assurance at a reduced cost.
B. A change in senior management or internal audit leadership may change expectations and commitment to conformance
C. More frequent external assessments can serve as an equivalent substitute for internal assessments.
D. Significant changes in the organization's accounting policies or procedures would warrant timely analysis and feedback.

Answer: B

Explanation:
Introduction:
The frequency of external assessments for the internal audit activity (IAA) is typically every five years. However, certain circumstances may necessitate more frequent assessments.
Reasons for More Frequent Assessments:
Significant organizational changes or shifts in internal audit leadership can impact the effectiveness and alignment of the internal audit function with organizational goals.

NEW QUESTION # 142
Which requirement should the chief audit executive consider when communicating results of the quality assurance and improvement program to the board of a large organization?

A. The qualifications and independence of the internal assessment team should be discussed
B. The rating conclusions and the impact from results of the external assessment should be explained
C. The results of the external assessment should be discussed every seven years.
D. The internal assessment results should be discussed once every five years

Answer: B

Explanation:
When communicating the results of the quality assurance and improvement program (QAIP) to the board of a large organization, the chief audit executive (CAE) should explain the rating conclusions and the impact of the results from the external assessment. This ensures transparency and helps the board understand the effectiveness and areas for improvement in the internal audit function.
Rating Conclusions: These provide a summary of the overall quality and performance of the internal audit function.
Impact Explanation: Discussing the impact helps the board understand how the results affect the internal audit's ability to fulfill its responsibilities and improve its processes.
Transparency: Clear communication of these aspects helps build trust and provides a basis for informed decision-making by the board.

NEW QUESTION # 143
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. 2 and 3.
C. 2 and 4
D. 1 and 4

Answer: C

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 # 144
The internal audit activity is asked to review the effectiveness of controls around the disposal of chemical waste. However, the internal auditors on staff lack the necessary skills to conduct this review Which of the following would be the most appropriate approach?

A. A nonaudit employee from the chemical disposal area may share his expertise with the audit team, provided the internal audit manager conducts a detailed review of all engagement work performed.
B. A team of the most knowledgeable auditors could be assembled and use the engagement work program from the previous year to gather additional insight regarding recommended audit procedures
C. An internal auditor who recently attended a three-day workshop on chemical waste disposal, and therefore has the most knowledge on the topic, should lead the engagement.
D. A team of available internal auditors should be assembled and should consult with an external nonaudit expert on chemical waste disposal to plan and conduct the engagement.

Answer: D

Explanation:
Skill Gap Identification: Internal auditors lack the necessary expertise in chemical waste disposal.
Consulting Experts: Engaging an external nonaudit expert ensures that the internal audit team receives the necessary technical knowledge to conduct an effective review.
Team Assembly: By assembling a team of internal auditors and consulting an external expert, the organization leverages both internal audit capabilities and external technical expertise.
Ensuring Competence: This approach ensures that the internal audit activity complies with the IIA Standards, specifically Standard 1210 - Proficiency, which requires internal auditors to possess the knowledge, skills, and other competencies needed to perform their responsibilities.

NEW QUESTION # 145
When reviewing workpapers, engagement supervisors may ask for additional evidence or clarification via review notes. According to IIA guidance, which of the following statements is true regarding the engagement supervisors review notes?

A. Management of the area under review must address the engagement supervisors review notes before the audit report can be finalized.
B. Review notes provide documented proof that the engagement is supervised properly and must be retained for the quality assurance and improvement program
C. The review notes may be cleared from the final documentation once the engagement supervisors concerns have been addressed
D. The chief audit executive must initial or sign the engagement supervisors review notes to provide evidence of appropriate engagement supervision.

Answer: C

Explanation:
Introduction:
Review notes are comments or questions posed by engagement supervisors during the review of workpapers to ensure audit quality and completeness.
IIA Guidance on Review Notes:
According to the IIA, review notes serve as a tool for engagement supervisors to seek additional evidence or clarification.

NEW QUESTION # 146
......

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