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| Section | Objectives |
|---|
| Topic 1: Practice of Internal Auditing | - Audit execution and evidence collection - Audit planning and risk assessment
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| Topic 2: Business Knowledge for Internal Auditing | - Information systems and IT auditing concepts - Financial and managerial accounting basics
|
| Topic 3: Essentials of Internal Auditing | - Internal audit fundamentals and governance - Ethics and professional standards
|
>> Associate IIA-CHAL-QISA Level Exam <<
IIA-CHAL-QISA Test Braindumps: Qualified Info Systems Auditor CIA Challenge Exam & IIA-CHAL-QISA Exam Collection
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IIA Qualified Info Systems Auditor CIA Challenge Exam Sample Questions (Q17-Q22):
NEW QUESTION # 17
Which of the following is an advantage of utilizing an external fraud specialist in a suspected fraud investigation?
- A. increased access to the organization's employees.
- B. Increased ability to scrutinize the organization's key business processes.
- C. increased access to the organization's software and proprietary data.
- D. Increased ability to preserve evidence and the chain of command.
Answer: D
Explanation:
* Introduction:
* Engaging an external fraud specialist brings several advantages to an investigation, particularly in preserving the integrity of evidence.
* Advantages of External Fraud Specialists:
* External specialists bring expertise, objectivity, and resources that may not be available internally.
* Options Analysis:
* Option A: Access to employees is not necessarily increased with external specialists.
* Option B: External fraud specialists have the skills and protocols to preserve evidence and maintain the chain of command, ensuring legal and procedural compliance.
* Option C: Scrutinizing business processes is part of their role, but the primary advantage lies in evidence preservation.
* Option D: Access to software and proprietary data is not the primary advantage; internal controls can provide this access as needed.
* Conclusion:
* The main advantage of utilizing an external fraud specialist is their increased ability to preserve evidence and maintain the chain of command, which is critical in legal and compliance contexts.
NEW QUESTION # 18
Which of the following is the PRIMARY objective of IT general controls?
- A. Ensure reliability of information systems.
- B. Eliminate all cyber threats.
- C. Improve employee productivity.
- D. Reduce operational staffing.
Answer: A
Explanation:
ITGCs support the confidentiality, integrity, and availability of systems and information.
NEW QUESTION # 19
An investor has acquired an organization that has a dominant position in a mature, slow-growth industry and consistently creates positive financial income Which of the following terms would the investor most likely label this investment in her portfolio?
- A. A star.
- B. A question mark.
- C. A cash cow.
- D. A dog
Answer: C
Explanation:
Investment Portfolio Terms:
Cash Cow: A business unit with a dominant market position in a mature, slow-growth industry that generates consistent positive cash flow and profits. It requires little investment to maintain its market position and provides funds for other investments.
Star: A business unit with a high market share in a fast-growing industry. It requires significant investment to maintain its position and support further growth.
Question Mark: A business unit with a low market share in a high-growth industry. It requires substantial investment to increase market share.
Dog: A business unit with a low market share in a slow-growth industry, generating minimal profit or loss.
Characteristics of a Cash Cow:
Dominant Position: The acquired organization has a strong market position.
Mature Industry: The industry is mature with slow growth.
Positive Financial Income: Consistently generates positive cash flow and profits, requiring minimal investment.
Investment Strategy:
Portfolio Management: Investors typically use cash cows to fund other investments, maintaining a balanced portfolio that supports growth while providing stable returns.
NEW QUESTION # 20
Which of the following best demonstrates internal auditors performing their work with proficiency?
- A. internal auditors meet with operational management at each phase of the audit process.
- B. Internal auditors adhere to The IIA's Code of Ethics.
- C. Internal auditors work collaboratively with their engagement team.
- D. Internal auditors complete a program of continuing professional development.
Answer: D
NEW QUESTION # 21
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 # 22
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