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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
Passing Score:	600 (scaled score)
Available Languages:	English, Other languages as available through local Pearson VUE test centres
Certificate Validity Period:	Lifetime (CIA certification validity subject to IIA CPE requirements)
Exam Format:	Multiple choice
Exam Price:	$1,245 USD (approx)
Related Certifications:	Certified Internal Auditor (CIA) Certified Information Systems Auditor (CISA)
Exam Duration:	180 minutes
Real Exam Qty:	150
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	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.
Topic 3	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

IIA Qualified Info Systems Auditor CIA Challenge Exam Sample Questions (Q97-Q102):

NEW QUESTION # 97
A newly appointed chief audit executive (CAE) started analyzing the organization's policies in an attempt to customize them to address internal audit specifics. Which of the following organizationwide practices is most likely to be acceptable to the CAE?

A. To enhance efficiency, Internal auditors should not be rotated regularly among engagements
B. Internal auditors' performance evaluation is primarily based on both client satisfaction surveys and cost savings identified from the audits
C. Standard training for each employee, including internal auditors, is 10 hours per year.
D. Hiring practices include requiring potential auditors to disclose any significant stock ownership in the organization.

Answer: B

Explanation:
The statistical model indicates that daily sales have a direct relationship with the cost of ingredients used and an inverse relationship with rainy days.
* Option A: On a rainy day, if total sales are greater than expected compared to the cost of ingredients used, it may indicate discrepancies that could be a sign of employee theft. For instance, if ingredients are used but not reflected in the sales, it suggests that items might be missing (stolen).
* Option B: On a sunny day, lower-than-expected sales compared to the cost of ingredients could indicate wastage but not necessarily theft.
* Option C and D: Both scenarios where total sales and the cost of ingredients are higher or lower than expected do not specifically point to theft without additional context.

NEW QUESTION # 98
When is an organic organizational structure likely to be more successful than a mechanistic organizational structure?

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

Answer: D

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 # 99
A corporate merger decision prompts the chief audit executive (CAE) to propose interm changes to the existing annual audit plan to account for emerging risks Which of the following Is the most appropriate action for the CAE to take regarding the changes made to the audit plan?

A. Communicate with the chief financial officer and present the revised audit plan to the CEO for approval.
B. Present the revised audit plan directly to the board for approval
C. Communicate with the CEO and present the revised audit plan to the board for approval
D. Present the revised audit plan directly to the CEO for approval.

Answer: C

Explanation:
Role of the CAE: The Chief Audit Executive (CAE) is responsible for developing a risk-based audit plan and ensuring it is aligned with the organization's goals and emerging risks. Significant changes to the audit plan must be communicated appropriately within the organization.
IIA Standards:
* Standard 2020 - Communication and Approval: The CAE must communicate the internal audit plan and resource requirements, including significant interim changes, to senior management and the board for review and approval.
* Risk Assessment: Any changes to the audit plan due to emerging risks, such as a corporate merger, must be documented and approved at the highest levels to ensure comprehensive risk coverage.
Most Appropriate Action:
* Communication with the CEO: The CAE should first discuss the revised audit plan with the CEO to ensure alignment with executive management's perspective on emerging risks.
* Board Approval: After discussing with the CEO, the CAE should present the revised audit plan to the board for formal approval, ensuring transparency and governance.
References:
* Presenting the revised audit plan to the board after discussing with the CEO ensures that all relevant stakeholders are informed and that the revised plan is formally approved, maintaining alignment with IIA standards.

NEW QUESTION # 100
Which of the following activities demonstrates an example of the chief audit executive performing residual risk assessment?

A. Reporting the status of every observation for every engagement in a detailed manner.
B. Inquiry of corrective action to be completed within a certain period
C. Cost-benefit analysis of management not implementing a recommendation to address an observation.
D. Soliciting management's feedback after completion of the audit engagement.

Answer: C

Explanation:
Performing a cost-benefit analysis when management decides not to implement a recommendation is a prime example of residual risk assessment. This involves evaluating the potential impacts and remaining risks associated with the decision, thereby determining the residual risk that the organization will continue to face.
Cost-Benefit Analysis: This helps in understanding the financial implications and benefits that would have been realized had the recommendation been implemented versus the risks of not implementing it.
Risk Assessment: By assessing the residual risk, the CAE can provide a clearer picture of the ongoing risks that the organization needs to manage.
Management Decision Impact: This analysis assists in making informed decisions and understanding the trade-offs involved in addressing audit observations.

NEW QUESTION # 101
Which of the following activities best demonstrates an internal auditor's commitment to developing professional competencies?

A. Completing a skills assessment and development plan for targeted training needs.
B. Requesting to be part of all engagements on the annual audit plan
C. Attending a webinar on how to use data analytics
D. Attending a series of locally offered training courses.

Answer: A

Explanation:
* Introduction:
* Developing professional competencies requires a structured approach to identify gaps and plan for targeted improvements.
* Commitment to Development:
* Conducting a skills assessment and creating a development plan demonstrates a proactive and strategic approach to professional growth.
* Options Analysis:
* Option A: Requesting to be part of all engagements shows enthusiasm but does not ensure targeted competency development.
* Option B: Attending training courses is beneficial but without a targeted plan, it may not address specific needs.
* Option C: Completing a skills assessment and development plan directly addresses individual training needs and sets a clear path for professional growth.
* Option D: Attending webinars is useful but should be part of a broader development strategy.
* Conclusion:
* The best demonstration of an internal auditor's commitment to developing professional competencies is completing a skills assessment and development plan for targeted training needs.

NEW QUESTION # 102
......

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