IIA-CHAL-QISA: Qualified Info Systems Auditor CIA Challenge Chief Practice Questions
The free IIA-CHAL-QISA: Qualified Info Systems Auditor CIA Challenge questions that deal with chief, with answers and explanations. The full bank and the timed practice test cover every topic the exam asks about.
Question #2
Which of the following activities demonstrates an example of the chief audit executive performing residual risk assessment?
Correct answer: A
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. References: • "Audit and Assurance Services: An Integrated Approach," which explains residual risk assessment and the importance of cost-benefit analysis in audit recommendations .
Question #8
According to IIA guidance, which of the following actions by the chief audit executive would best ensure that internal auditors demonstrate due professional care?
Correct answer: A
Explanation
• Professional Care:Ensuring that internal auditors demonstrate due professional care involves establishing clear policies and procedures that guide their activities. • Guidance and Standards:These policies and procedures help ensure that the internal audit activity adheres to professional standards and best practices. • Standard Compliance:According to the IIA's Performance Standard 2040 – Policies and Procedures, the CAE must establish policies and procedures to guide the internal audit activity. • Quality Assurance:Properly developed policies and procedures contribute to the overall quality and effectiveness of the internal audit activity, ensuring that engagements are conducted with due professional care. References: • IIA Standard 2040 – Policies and Procedures .
Continue with IIA-CHAL-QISA: Qualified Info Systems Auditor CIA Challenge Exam
Unlock the full question bank
You have read the first 10 questions. A subscription opens every question in IIA-CHAL-QISA: Qualified Info Systems Auditor CIA Challenge Exam, the full timed practice test, and your progress and weak-topic reporting.
Single exam
$19.99for 30 days
Full question bank and practice test for one exam, for 30 days.
Single exam
$49.99for 1 year
One exam for a full year. Nothing renews and nothing to cancel.
Full access
$39.99/mo
Every exam in the catalogue, month to month.
Full access
$199.99/yr
Every exam in the catalogue for a year.
Already subscribed? Sign in to pick up where you left off.
All IIA-CHAL-QISA: Qualified Info Systems Auditor CIA Challenge practice questions →