IIA-CHAL-QISA Certificate Exam & IIA-CHAL-QISA Test Price

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IIA-CHAL-QISA valid exam answers & IIA-CHAL-QISA practice engine & IIA-CHAL-QISA training pdf

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IIA IIA-CHAL-QISA Exam Syllabus Topics:

Topic	Details
Topic 1	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 2	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 3	Essentials of Internal Auditing: This domain has topics such as foundations of internal auditing, independence and objectivity, Proficiency and Due Professional Care, QA, and Managing Risks. The domain covers describing the concept of governance and CSR.

IIA Qualified Info Systems Auditor CIA Challenge Exam Sample Questions (Q34-Q39):

NEW QUESTION # 34
Following an IT systems audit, management agreed to implement a specific control in one of the IT systems.
After a period, the internal auditor followed up and learned that management had not implemented the agreed management action due to the decision to move to another IT system that has built-in controls, which may address this risks highlighted by the Internal audit Which of the following Is the most appropriate action to address the outstanding audit recommendation?

A. The auditor accepts managements explanation that the previously identified issue is adequately addressed by the new IT system, as management understands the concern and is most knowledgeable about the new system, and closes the outstanding issue.
B. The auditor advises management that replacing the IT system does not dismiss the prior obligation to implement the agreed action plan, and escalates the issue to senior management and the board.
C. The auditor examines the system documentation of the new system to verify that the risk has been addressed in the new system, then reports to senior management the closure of the issue.
D. The auditor requires management to provide details regarding the process for selecting the new IT system and whether other systems were evaluated, and closure of the issue would depend on the new information provided.

Answer: C

Explanation:
Verification of Controls: The auditor should verify that the new IT system addresses the previously identified risks. This involves reviewing the system documentation and ensuring that the controls in the new system effectively mitigate the risks.

NEW QUESTION # 35
An internal auditor is asked to determine why the production line for a large manufacturing organization has been experiencing shutdowns due to unavailable parts The auditor learns that production data used for generating automatic purchases via electronic interchange is collected on personal computers connected by a local area network (LAN) Purchases are made from authorized vendors based on both the production plans for the next month and an authorized materials requirements plan (MRP) that identifies the parts needed per unit of production. The auditor suspects the shutdowns are occurring because purchasing requirements have not been updated for changes in production techniques. Which of the following audit procedures should be used to test the auditor's theory?

A. Select a sample of production estimates and MRPs for several periods and trace them into the system to determine that input is accurate
B. Develop a report of excess inventory and compare the inventory with current production volume.
C. Compare purchase orders generated from test data Input into the LAN with purchase orders generated from production data for the most recent period.
D. Compare the parts needed based on current production estimates and the MRP for the revised production techniques with the purchase orders generated from the system for the same period

Answer: D

Explanation:
To test the theory that shutdowns are due to outdated purchasing requirements, the auditor should compare the parts needed according to the revised production techniques with the purchase orders generated. This comparison will reveal whether the system has been updated to reflect changes in production techniques, thereby identifying any discrepancies causing the unavailability of parts.

NEW QUESTION # 36
According to IIA guidance, which of the following is a limitation of a heat map?

A. Impact and likelihood at times cannot be differentiated as to which is more important.
B. Impact cannot be represented on a heat map unless it is quantified in financial terms
C. Qualitative factors cannot be incorporated into a heat map
D. A heat map cannot be used unless a risk and control matrix has been developed.

Answer: A

Explanation:
* Introduction:
* Heat maps are tools used in risk management to visualize the impact and likelihood of risks.
* Limitations of Heat Maps:
* Despite their usefulness, heat maps have several limitations, including difficulties in prioritizing risks when impact and likelihood are closely matched.
* Options Analysis:
* Option A: Impact can be represented qualitatively as well, not just in financial terms.
* Option B: Differentiating the relative importance of impact versus likelihood can be challenging, leading to potential misinterpretation of risk priorities.
* Option C: Heat maps can be used without a risk and control matrix, although such a matrix enhances their effectiveness.
* Option D: Qualitative factors can be incorporated into heat maps, adding depth to the analysis.
* Conclusion:
* The limitation of a heat map is that at times, impact and likelihood cannot be differentiated as to which is more important, making it difficult to prioritize risks accurately.

NEW QUESTION # 37
Which of the following statements is most accurate with respect to the required elements of the quality assurance and improvement program?

A. in order to comply with the Standards, the internal audit activity must obtain an objective assessment of its processes and function at least once a year
B. Internal auditors completing internal assessments must demonstrate certification to perform quality assessments
C. Quality assessments focus on the internal audit activity's structure, relationships withstakeholders, compliance with the Standards, and internal audit staff proficiency.
D. Internal assessments provide sufficient objectivity to provide evidence to the board that the internal audit activity understands the organization's control processes.

Answer: C

Explanation:
* Understanding Quality Assessments:Quality assessments in internal audit activities are designed to evaluate various aspects such as the structure of the internal audit activity, relationships with stakeholders, compliance with the IIA Standards, and the proficiency of internal audit staff.
* Internal Assessments:These include ongoing monitoring of the performance of the internal audit activity and periodic self-assessments or assessments by other persons within the organization with sufficient knowledge of internal audit practices.
* External Assessments:External assessments should be conducted at least once every five years by a qualified, independent assessor or assessment team from outside the organization to ensure objectivity and comprehensiveness.
* Focus Areas:Quality assessments should focus on compliance with the IIA Standards, the effectiveness of the internal audit activity's structure, the quality of relationships with stakeholders, and the proficiency and continuous professional development of internal audit staff.
* Continuous Improvement:The quality assurance and improvement program (QAIP) should be designed to enable the internal audit activity to add value and improve an organization's operations. It helps ensure that the internal audit activity is in compliance with the IIA Standards and Code of Ethics and continuously improves.
References:
* IIA Standard 1300 - Quality Assurance and Improvement Program .

NEW QUESTION # 38
According to IIA guidance, which of the following would be the best first step to manage risk when a third party is overseeing the organization's network and data'?

A. Applying administrative privileges to ensure right-to-access controls are appropriate
B. Drafting a strong contract that requires regular vendor control reports and a right-to-audit clause
C. Creating a comprehensive reporting system for vendors to demonstrate their ongoing due diligence in network operations.
D. Creating a standing cybersecurity committee to identify and manage risks related to data security.

Answer: B

Explanation:
Managing Third-Party Risk: When a third party oversees the organization's network and data, the primary concern is to manage and mitigate risks associated with outsourcing critical functions.
Strong Contract Provisions: Drafting a strong contract that includes specific provisions such as regular vendor control reports and a right-to-audit clause is essential. These provisions ensure that the organization maintains oversight and control over the third party's activities.
IIA Standards: Standard 2201 - Planning Considerations requires that internal auditors consider the organization's objectives and the means by which they are achieved, including the role of third parties.
Contract Management:
* Control Reports: Regular control reports from the vendor provide insights into their performance and compliance with agreed-upon standards.
* Right-to-Audit Clause: This clause allows the organization to periodically audit the third party to ensure compliance with contractual obligations and to assess the effectiveness of their control environment.
References:
* Ensuring that third-party vendors adhere to the same standards of risk management and control as the organization helps in mitigating risks related to data security and network management.

NEW QUESTION # 39
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IIA-CHAL-QISA Certificate Exam & IIA-CHAL-QISA Test Price

IIA-CHAL-QISA valid exam answers & IIA-CHAL-QISA practice engine & IIA-CHAL-QISA training pdf

IIA IIA-CHAL-QISA Exam Syllabus Topics:

IIA Qualified Info Systems Auditor CIA Challenge Exam Sample Questions (Q34-Q39):

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