Qualified Info Systems Auditor CIA Challenge Exam (IIA-CHAL-QISA) Free Practice Test

Question 1

According to IIA guidance, which of the following corporate social responsibility (CSR) evaluation activities may be performed by the internal audit activity?
1.Consult on CSR program design and implementation
2.Serve as an advisor on CSR governance and risk management.
3.Review third parties for contractual compliance with CSR terms
4Identify and mitigate risks to help meet the CSR program objectives

A. 1.2. and 4.

B. 1,2, and 3.

C. 1, 3, and 4.

D. 2. 3. and 4.

Correct Answer: A

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Question 2

Which of the following is most appropriate for internal auditors to do during the internal audit recommendations monitoring process?

A. Report the monitoring status to senior management when requested.

B. Include all types of observations in the monitoring process

C. Determine the frequency and approach to monitoring

D. Assist management with implementing corrective actions.

Correct Answer: C

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Question 3

An internal auditor discovered fraud while performing an audit of an organization's procurement process.
Which of the following describes the greatest benefit of using forensic auditing techniques in this scenario?

A. Improved capability of evaluating fraud risks within the organization.

B. Enhanced capability to prevent frauds from occurring.

C. Greater assurance that procurement frauds will be detected in a timely manner

D. Greater understanding of fraud through better evidence collection

Correct Answer: D

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Question 4

When determining the level of staff and resources to be dedicated to an assurance engagement, which of the following would be the most relevant to the chief audit executive?

A. The availability of guest auditors for the engagement

B. The overall adequacy of the internal audit activity's resources

C. The number of internal auditors used for the previous review of the same area.

D. The available resources with the specific skill set required

Correct Answer: D

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Question 5

The internal audit activity plans to assess the effectiveness of management's self-assessment activities regarding the risk management process. Which of the following procedures would be most appropriate to accomplish this objective?

A. Observe and test control and monitoring procedures and related reporting.

B. Research and review relevant industry information concerning key risks.

C. Conduct interviews with line and senior management on current practices.

D. Review corporate policies and board minutes for examples of risk discussions.

Correct Answer: A

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Question 6

The chief audit executive (CAE) has assigned an internal auditor to an upcoming engagement. Which of the following requirements would most likely indicate that the Internal auditor wasassigned to an assurance engagement?

A. The CAE must personally obtain the needed skills, knowledge, or other competencies if the internal auditor does not have them.

B. The assigned internal auditor must not assume management responsibilities while performing the engagement.

C. The assigned internal auditor must determine the objectives, scope, and techniques of the engagement.

D. The assigned internal auditor must maintain objectivity while performing the engagement

Correct Answer: B

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Question 7

While conducting an engagement in the procurement department, the internal auditor noticed that the department head's travel reports showed minor travel expenses, and there were no charges for hotels, meals, or transportation However, the auditor knew that the department head frequently traveled worldwide to meet with suppliers and visit their production sites. Which of the following would be the most appropriate next step for the auditor?

A. The auditor should make a note of the issue for follow-up when employee travel expenses are audited.

B. The auditor should investigate whether there are any special arrangements regarding senior management travel.

C. The auditor should analyze trends and changes among the organization's suppliers over the past few years.

D. The auditor should analyze the list of destinations the department head visited to estimate typical costs

Correct Answer: B

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Question 8

When using cost-volume-profit analysis, which of the following will increase operating income once the break-even point has been reached?

A. Variable costs per unit for each additional unit sold.

B. Fixed costs per unit for each additional unit sold.

C. Gross margin per unit for each additional unit sold

D. Contribution margin per unit for each additional unit sold.

Correct Answer: D

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Question 9

A newly appointed chief audit executive (CAE) of a small organization is developing a resource management plan. Which of the following approaches would be most beneficial to help the CAE obtain details of the internal audit activity's collective knowledge, skills, and other competencies?

A. Review or establish a documented skills assessment of the internal audit staff and gather information from post-audit surveys.

B. Request the internal audit staff to submit a document that summarizes their most recent performance appraisals and post audit reviews.

C. Conduct an objective written test of the internal audit staff to assess their knowledge and skills related to core internal audit competencies.

D. Obtain from the human resources department the job descriptions and position requirements forall internal audit staff.

Correct Answer: A

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IIA Qualified Info Systems Auditor CIA Challenge (IIA-CHAL-QISA) Free Practice Test