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The Ultimate IIA IIA-CHAL-QISA Dumps PDF Review [Q12-Q26]

The Ultimate IIA IIA-CHAL-QISA Dumps PDF Review

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IIA IIA-CHAL-QISA Exam Syllabus Topics:

Topic	Details
Topic 1	Practice of Internal Auditing: This domain covers strategies and policies related to planning, organizing, controlling of internal audit processes, and understanding administrative activities such as resourcing, recruiting, and staffing. Moreover, this domain covers goals of engagement and assessment criteria in addition to planning the engagement to ensure the identification of key risks and controls.
Topic 2	Essentials of Internal Auditing: This domain has topics such as foundations of internal auditing, independence and objectivity, Proficiency and Due Professional Care, QA, and Managing Risks. The domain covers describing the concept of governance and CSR.
Topic 3	Business Knowledge for Internal Auditing: This domain covers the vital planning phases and efforts and common performance measures. It also includes ways for management to effectively lead and counsel people to increase their commitment. Also, the domain covers financial accounting and managerial accounting fundamentals and the treatment of various costs.

NO.12 When determining the level of staff and resources to be dedicated to an assurance engagement, which of the following would be the most relevant to the chief audit executive?

The overall adequacy of the internal audit activity’s resources

The availability of guest auditors for the engagement

The number of internal auditors used for the previous review of the same area.

The available resources with the specific skill set required

NO.13 Which of the following best describes why an internal audit activity would consider sending written preliminary observations to the audit client?

Written observations allow for more interpretation.

Written observations help the internal auditors express the significance.

Written and verbal observations are equally effective.

Written observations limit premature agreement

NO.14 Operational management In the IT department has developed key performance indicator reports, which are reviewed in detail during monthly staff meetings. This activity is designed to prevent which of the following conditions?

Knowledge/skills gap.

Monitoring gap.

Accountability reward failure

Communication failure

NO.15 In which scenario might it be considered problematic for the chief audit executive (CAE) to provide assurance services over the payroll function?

The CAE previously undertook a consulting assignment in that area to improve processes.

A couple of years ago, the CAE performed accounting functions for the payroll department.

Prior to becoming the CAE, the CAE was the payroll manager.

The assurance review was initiated following issues identified during a consulting assignment requested by management.

NO.16 Which of the following internal audit activities is performed in the design evaluation phase?

The internal auditor reviews prior audits and workpapers

The internal auditor identifies the controls over segregation of duties.

The internal auditor checks a process for completeness.

The internal auditor communicates the audit results to management

NO.17 Which of the following statements is true regarding the management-by-objectives method?

Management by objectives helps organizations to keep employees motivated.

Management by objectives is most helpful in organizations that have rapid changes

Management by objectives is most helpful in mechanistic organizations with rigidly defined tasks.

Management by objectives helps organizations to distinguish clearly strategic goals from operational goals

NO.18 Which of the following activities demonstrates an example of the chief audit executive performing residual risk assessment?

Cost-benefit analysis of management not implementing a recommendation to address an observation.

Inquiry of corrective action to be completed within a certain period

Reporting the status of every observation for every engagement in a detailed manner.

Soliciting management’s feedback after completion of the audit engagement.

NO.19 Which of the following should be included in a company’s year-end inventory valuation?

Company goods that were sold during the year, free on board shipping point, that have been shipped but not yet received by the customer

Goods purchased by the company, free on board destination, that have not yet been received.

Goods on consignment, which the company is trying to sell for its customers.

Company goods for sale on consignment at a consignment shop

NO.20 A bakery chain has a statistical model that can be used to predict daily sales at individual stores based on a direct relationship to the cost of ingredients used and an inverse relationship to rainy days What conditions would an auditor look for as an Indicator of employee theft of food from a specific store?

On a rainy day. total sales are greater than expected when compared to the cost of ingredients used

On a sunny day. total sales are less than expected when compared to the cost of ingredients used.

Both total sales and cost of ingredients used are greater than expected.

Both total sales and cost of ingredients used are less than expected.

NO.21 An internal auditor is performing testing to gather evidence regarding an organization’s inventory account balance and is mindful of the possibility that the sample used might support the conclusion that the recorded account balance is not materially misstated when, in fact, it is The auditor’s concern best describes which of the following risks?

Incorrect rejection risk.

Incorrect acceptance risk.

Tolerable misstatement risk

Anticipated misstatement risk

NO.22 According to IIA guidance, which of the following describes the primary reason to implement environmental and social safeguards within an organization?

To enable Triple Bottom Line reporting capability.

To facilitate the conduct of risk assessment

To achieve and maintain sustainable development.

To fulfill regulatory and compliance requirements.

NO.23 According to Herzberg’s Two-Factor Theory of Motivation, which of the following factors are mentioned most often by satisfied employees9

Salary and status.

Responsibility and advancement

Work conditions and security.

Peer relationships and personal life

NO.24 According to IIA guidance, which of the following is a limitation of a heat map?

Impact cannot be represented on a heat map unless it is quantified in financial terms

Impact and likelihood at times cannot be differentiated as to which is more important.

A heat map cannot be used unless a risk and control matrix has been developed.

Qualitative factors cannot be incorporated into a heat map

NO.25 Which of the following best demonstrates that the internal audit activity is using due professional care?

The internal audit activity reports directly to the board on the engagements it performs.

Internal auditors undertake the necessary training to complete their audit work.

The completion of engagements is based on the assumption that fraudulent activities may exist.

Internal auditors consider the use of technology-based audit and other data analysis techniques

NO.26 The audit plan requires a review of the testing procedures used in pre-production of a large information system prior to its live launch. If the chief audit executive (CAE) is uncertain that the current audit team has all the required knowledge to conduct the engagement, which of the following would be the most appropriate course of action for the CAE to take to preserve independence?

Contract with the software vendor to provide an appropriate resource

Ask for a knowledgeable resource from the IT department

Make use of an external service provider.

Request audit resources through the external auditor.

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