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IIA Exam IIA-CHAL-QISA Topic 3 Question 12 Discussion

Actual exam question for IIA's IIA-CHAL-QISA exam
Question #: 12
Topic #: 3
[All IIA-CHAL-QISA Questions]

Which of the following best describes the guideline for preparing audit engagement workpapers?

Show Suggested Answer Hide Answer
Suggested Answer: C

ISO 31000 Context: ISO 31000 provides guidelines on risk management, emphasizing the importance of understanding the external context.

External Context: This includes external factors such as regulatory and competitive environments that can impact the organization's risk profile.

Regulatory Environment: Understanding regulations helps the organization ensure compliance and avoid legal risks.

Competitive Environment: Analyzing the competitive environment allows the organization to anticipate market changes and manage competitive risks.


ISO 31000 Risk Management Guidelines.

by Belen at Sep 15, 2024, 04:44 PM

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Zachary
2 months ago
I'm going with C. It's important for the workpapers to be clear and comprehensible to any internal auditor who might need to review or continue the engagement. Consistency and transparency within the team are key.
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Laine
2 months ago
Haha, I bet the auditor who wrote these options had a sense of humor. 'Workpapers should be understandable to the audit client and the board' - yeah, right, good luck with that!
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Maybelle
30 days ago
Haha, I bet the auditor who wrote these options had a sense of humor. 'Workpapers should be understandable to the audit client and the board' - yeah, right, good luck with that!
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Lenny
1 months ago
D) Workpapers should be understandable to external auditors and regulatory agencies
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Celeste
1 months ago
C) Workpapers should be understandable to another internal auditor who was not involved in the engagement.
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Maurine
1 months ago
A) Workpapers should be understandable to the auditor in charge and the chief audit executive
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Martin
2 months ago
Hmm, I'm not sure. Option A seems reasonable, but I feel like it's a bit too narrow. Shouldn't the workpapers be understandable to the entire audit team, not just the auditor in charge and the chief audit executive?
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Celestina
2 months ago
I'm leaning towards option D. Workpapers should be understandable to external auditors and regulatory agencies. This aligns with the principle of transparency and accountability to external stakeholders.
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Felicitas
1 months ago
It's crucial for external auditors and regulatory agencies to be able to easily comprehend the workpapers. Option D is definitely the way to go.
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Nilsa
1 months ago
I agree, transparency is key when it comes to audit engagement workpapers. Option D makes the most sense.
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Christa
1 months ago
Having workpapers that are understandable to external auditors and regulatory agencies is crucial for maintaining accountability. Option D is the way to go.
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Juliann
1 months ago
I think option D is the best choice. It's important for external auditors and regulatory agencies to be able to understand the workpapers.
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Luisa
1 months ago
I agree, transparency is key when it comes to audit engagement workpapers. Option D seems like the best choice.
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Kristine
2 months ago
I think option D makes sense. It's important for external auditors and regulatory agencies to understand the workpapers.
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Wilson
3 months ago
I think the correct answer is C. Workpapers should be understandable to another internal auditor who was not involved in the engagement. This ensures consistency and accountability within the internal audit function.
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Edward
2 months ago
I think D might also be a good choice. External auditors and regulatory agencies need to be able to understand the workpapers for compliance purposes.
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Pok
2 months ago
I agree, C is the correct answer. It's important for other internal auditors to be able to understand the workpapers.
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Dante
3 months ago
I see your point, Audria. But I think C is also a good choice, as workpapers should be understandable to another internal auditor who was not involved in the engagement.
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Audria
3 months ago
I disagree, I believe the answer is A. The workpapers should be understandable to the auditor in charge and the chief audit executive.
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Charlena
4 months ago
I think the best answer is D, because external auditors and regulatory agencies need to understand the workpapers.
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