Audit Frameworks and Standards CISA Practice Questions (Page 5)

Questions 21–25

1. 21foundation · easy

   Which type of audit focuses on whether an organization's financial statements are presented fairly in accordance with applicable accounting standards?

   • AFinancial audit
   • BCompliance audit
   • CIntegrated audit
   • DOperational audit
   Reveal Solution Discussion Select an answer first
2. 22foundation · easy

   When an IS auditor encounters a situation not explicitly covered by an ISACA IS Audit Standard, what should the auditor do?

   • AImmediately escalate to the audit committee without further analysis
   • BIgnore the situation because it is outside the scope of the audit
   • CRefer to ISACA IS Audit Guidelines for recommended approaches
   • DStop the audit until the standard is updated
   Reveal Solution Discussion Select an answer first
4. 23foundation · easy

   Which of the following best describes the relationship between ISACA IS Audit Standards and ISACA IS Audit Guidelines?

   • AStandards provide mandatory requirements, while guidelines offer recommended approaches
   • BGuidelines are mandatory requirements that must be followed in every audit
   • CStandards and guidelines are both optional and serve the same purpose
   • DStandards are optional, while guidelines are mandatory
   Reveal Solution Discussion Select an answer first
5. 24foundation · easy

   An IS auditor discovers a significant fraud during an audit. According to the ISACA Code of Professional Ethics, what is the auditor's primary obligation?

   • AConfront the suspected individual directly before reporting
   • BKeep the fraud confidential to protect the organization's reputation
   • CIgnore the fraud because it is not part of the audit scope
   • DReport the fraud to the appropriate parties in accordance with the law and professional standards
   Reveal Solution Discussion Select an answer first
6. 25expert · hard

   An IS auditor is engaged to perform an audit of a company's financial reporting system. The audit will include an evaluation of the IT general controls (ITGC) that support the financial statements, as well as a review of the system's operational efficiency. The auditor must plan the engagement to meet ISACA IS Audit Standards. Which type of audit is the auditor performing?

   • ACompliance audit, focusing on adherence to financial regulations.
   • BOperational audit, focusing on the efficiency of the system.
   • CIntegrated audit, combining financial and operational objectives.
   • DFinancial audit, focusing on the accuracy of financial statements.
   Reveal Solution Discussion Select an answer first