Free IIA IIA-CHAL-QISA Exam Questions

Become IIA Certified with updated IIA-CHAL-QISA exam questions and correct answers

Page: 1 / 31

Total 152 Questions | Updated On: Nov 13, 2024

Add To Cart

Question 1

Which of the following statements is true regarding managements use of judgement to design, implement, and conduct internal control

A : The use of judgment enhances managements ability to make better decisions about internal control, but cannot guarantee perfect outcomes.

B : introducing judgment generally diminishes managements ability to make good decisions about internal control

C : It is inappropriate for management to exercise judgement in areas such as specifying and using suitable accounting principles.

D : It is inappropriate for management to exercise judgement in assessing whether components are present, functioning, and operating together

Answer: A

Question 2

The internal audit activity is currently working on several engagements, including a consulting engagement on the management process in the human resources department. Which of the following actions should the chief audit executive take to most efficiently and effectively ensure the quality of the engagement?

A : Assign an experienced manager to monitor the whole engagement process.

B : Employ fieldwork peer review to enhance the work quality.

C : Require internal auditors to follow a standardized work program.

D : Personally supervise the engagement

Answer: B

Question 3

Which of the following offers the best explanation of why the auditor in charge would assign a junior auditor to complete a complex part of the audit engagement?

A : The senior auditors are unavailable, as they are currently working on other portions of the engagement

B : The auditor in charge believes that the junior auditor should obtain a specific type of experience.

C : The audit engagement has a tight deadline and the work must be completed timely.

D : The auditor in charge is unable to identify audit staff with all of the required skills needed to complete the engagement

Answer: B

Question 4

Organizations that adopt just-in-time purchasing systems often experience which of the following?

A : A slight increase in carrying costs.

B : A greater need for inspection of goods as the goods arrive

C : A greater need for linkage with a vendors computerized order entry system.

D : An Increase in the number of suitable suppliers

Answer: C

Question 5

Which of the following statements is true regarding partnership liquidation?

A : Operations can continue after the liquidation, if all partners agree.

B : Partnership liquidation ends both the legal and economic life of an entity

C : Partnership liquidation occurs when there is capital deficiency.

D : When a partnership Is liquidated, each partner pays creditors from cash received

Answer: B

Page: 1 / 31

Total 152 Questions | Updated On: Nov 13, 2024

Add To Cart