IIA-CHAL-QISA Exam - Topic 3 Question 18 Discussion

Actual exam question for IIA's IIA-CHAL-QISA exam

Question #: 18
Topic #: 3

[All IIA-CHAL-QISA Questions]

According to IIA guidance, which of the following statements is true regarding audit workpapers?

AReview notes on audit workpapers must be retained to provide a record of questions raised by the reviewer.

BAudit workpaper documentation policies are reviewed and approved by the audit committee.

CManagement of the department being audited should review the prepared workpapers for accuracy.

DAudit workpaper preparation contributes to the professional development of the internal audit staff.

Show Suggested Answer

Suggested Answer: D

Audit workpapers are essential documents that provide evidence of the audit work performed and the conclusions reached.

Option A: While review notes can be useful, they do not need to be retained if they do not add value to the audit evidence.

Option B: Audit workpaper documentation policies are typically established by the internal audit department, not reviewed or approved by the audit committee.

Option C: Management should not review the workpapers for accuracy as this could compromise the independence of the audit.

Option D: Preparing workpapers helps auditors document their work thoroughly, facilitating learning and professional development.

by Cherilyn at Nov 18, 2024, 07:14 PM

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Gerald

4 months ago

I think A and D are spot on!

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Gail

4 months ago

Wait, are we sure about B? Sounds off to me.

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Annabelle

4 months ago

D makes sense, it helps us grow as auditors!

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Mila

5 months ago

I disagree with C, management shouldn't be involved in that.

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Ashanti

5 months ago

A is definitely true, gotta keep those review notes!

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Jessenia

5 months ago

I definitely recall that preparing workpapers helps auditors grow professionally, so D sounds like a solid choice.

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Jeanice

5 months ago

I feel like management reviewing workpapers is a common practice, but I’m not sure if it’s required by IIA guidance, so C is tricky.

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Howard

5 months ago

I think I saw a question like this before, and I’m not sure if the audit committee is involved in workpaper policies, so B seems off.

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Daniela

6 months ago

I remember something about workpapers needing to show the review process, so maybe A is correct?

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Carlee

6 months ago

The key here is to focus on the specific IIA guidance mentioned in the question. I'll eliminate any options that don't align with that and go from there.

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Johnna

6 months ago

Workpaper documentation is an important part of the audit process, so I'll make sure to review the IIA guidance on this topic before selecting my answer.

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Regenia

6 months ago

Hmm, I'm a bit unsure about this one. The options seem similar, I'll need to carefully read through each one to make sure I understand the nuances.

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Aileen

6 months ago

This question seems straightforward, I'm pretty confident I can identify the correct statement about audit workpapers based on the IIA guidance.

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Lynette

1 year ago

D is an interesting option, but I think the main purpose of workpapers is documentation, not professional development.

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Xochitl

1 year ago

Haha, C is just asking for trouble. Let's not let the auditees review their own workpapers!

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Veta

1 year ago

Yeah, having the auditees review their own workpapers doesn't sound like a good idea.

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Shawnda

1 year ago

D) Audit workpaper preparation contributes to the professional development of the internal audit staff.

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Keneth

1 year ago

A) Review notes on audit workpapers must be retained to provide a record of questions raised by the reviewer.

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Gladys

1 year ago

I agree with Evelynn, D makes sense because preparing workpapers helps internal audit staff grow professionally.

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Ming

1 year ago

B sounds good to me. The audit committee should approve the workpaper policies.

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Juan

1 year ago

D) Audit workpaper preparation contributes to the professional development of the internal audit staff.

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Dianne

1 year ago

C) Management of the department being audited should review the prepared workpapers for accuracy.

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Chanel

1 year ago

B) Audit workpaper documentation policies are reviewed and approved by the audit committee.

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Flo

1 year ago

A) Review notes on audit workpapers must be retained to provide a record of questions raised by the reviewer.

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Evelynn

1 year ago

I disagree, I believe the correct answer is D.

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Johnetta

1 year ago

I think the answer is A.

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Jani

1 year ago

I think the correct answer is A. Review notes are important for documenting the audit process.

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Lyndia

1 year ago

Audit workpaper documentation plays a crucial role in ensuring transparency and accountability.

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Yesenia

1 year ago

It's important to have a clear record of the audit process for reference.

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Galen

1 year ago

Yes, that's correct. Review notes on audit workpapers must be retained to provide a record of questions raised by the reviewer.

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Twana

1 year ago

I think the correct answer is A. Review notes are important for documenting the audit process.

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