IIA-CHAL-QISA: Qualified Info Systems Auditor CIA Challenge Guidance Practice Questions
The free IIA-CHAL-QISA: Qualified Info Systems Auditor CIA Challenge questions that deal with guidance, with answers and explanations. The full bank and the timed practice test cover every topic the exam asks about.
Question #5
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'?
Correct 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.
Question #7
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
Correct answer: B
Explanation
According to the Institute of Internal Auditors (IIA) guidance, internal audit activities can encompass several aspects of evaluating corporate social responsibility (CSR) programs. • Consulting on Design and Implementation: Internal auditors can provide valuable insights into the design and implementation of CSR programs to ensure they are well-structured and aligned with organizational objectives. • Advising on Governance and Risk Management: Serving as advisors, internal auditors can help in establishing effective governance structures and identifying and managing risks associated with CSR initiatives. • Mitigating Risks: By identifying and mitigating risks, internal auditors support the achievement of CSR program objectives, ensuring these initiatives are both effective and sustainable. • Reviewing Third Parties: While internal auditors may review third parties for contractual compliance with CSR terms, this activity is more often part of broader compliance audits rather than a specific focus area for CSR evaluations. References: • "IIA Practice Guide: Auditing Corporate Social Responsibility," which outlines the role of internal auditors in CSR-related activities.
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