Give You Free Regular Updates on IIA-CHAL-QISA Exam Questions Oct 27, 2026 [Q62-Q78]

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Give You Free Regular Updates on IIA-CHAL-QISA Exam Questions Oct 27, 2026

Achieve the IIA-CHAL-QISA Exam Best Results with Help from IIA Certified Experts

IIA IIA-CHAL-QISA Exam Syllabus Topics:

Topic	Details
Topic 1	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.
Topic 2	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 3	Essentials of Internal Auditing: This domain has topics such as foundations of internal auditing, independence aconcept of governance and CSR.nd objectivity, Proficiency and Due Professional Care, QA, and Managing Risks. The domain covers describing the

NEW QUESTION 62
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

NEW QUESTION 63
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

NEW QUESTION 64
Which of the following must be in existence as a precondition to developing an effective system of internal controls?

A monitoring process

A risk assessment process.

A strategic objective-setting process.

An information and communication process

NEW QUESTION 65
Which of the following situations best applies to an organization that uses a project, rather than a process, to accomplish its business activities?

A clothing company designs, makes, and sells a new item.

A commercial construction company is hired to build a warehouse.

A city department sets up a new firefighter training program.

A manufacturing organization acquires component parts from a contracted vendor

NEW QUESTION 66
Who is responsible for ensuring internal auditors continuing professional development*

Individual internal auditors

Chief audit executive.

The board

Engagement supervisors

NEW QUESTION 67
Which of the following is essential for ensuring that the internal audit activity’s findings and recommendations receive adequate consideration?

Reporting results of audits with recommendations to management.

Providing formal follow-up procedures to ensure that management complies with an action plan or accepted risk of not taking action.

Reporting quarterly to management that the audit plan is focused on higher exposures of risk.

Discussing audit findings with independent auditors.

NEW QUESTION 68
According to IIA guidance, which of the following best describes the purpose of a planning memorandum for an audit engagement?

It documents the audit steps and procedures to be performed.

it documents preliminary information useful to the audit team.

It documents events that could hinder the achievement of process objectives.

It documents existing measures that manage risks in the area under review

NEW QUESTION 69
Which of the following statements is true regarding the reporting of tangible and intangible assets?

For plant assets, cost includes the purchase price and the cost of design and construction

For intangible assets, cost includes the purchase price and development costs.

Due to their indefinite nature, intangible assets are not subject to amortization.

The organization must expense any cost incurred in developing a plant asset

NEW QUESTION 70
Which of the following is most likely to impair the organizational independence of the internal audit activity?

The chief audit executive (CAE) reports administratively to the chief financial officer

The CAE oversees the effectiveness of the organization’s risk management function.

The CAE reports functionally to the CEO.

The CAE managed the finance department for the past five years.

NEW QUESTION 71
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

NEW QUESTION 72
Which of the following statements is true regarding managements use of judgement to design, implement, and conduct internal control?

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

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

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

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

NEW QUESTION 73
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.

NEW QUESTION 74
While auditing an organization’s credit approval process, an internal auditor learns that the organization has made a large loan to another auditors relative. Which course of action should the auditor take?

Proceed with the audit engagement, but do not include the relative’s information.

Have the chief audit executive and management determine whether the auditor should continue with the audit engagement.

Disclose in the engagement final communication that the relative Is a customer

Immediately withdraw from the audit engagement

NEW QUESTION 75
An internal audit activity has to confirm the validity of the activities reported by a grantee that received a chantable contribution from the organization Which of the following methods would best help meet this objective?

Visiting the grantee to assess whether the execution of the project was in line with the defined grant scope.

Verifying that the grantee’s final report is in line with what was depicted in the initial budget request.

Reconciling general ledger accounts used by management of the area under review for reflecting expenses on charitable contributions

Interviewing employees of the corporate affairs department, which is responsible for charitable activities

NEW QUESTION 76
According to the IIA Code of Ethics, which of the following is required with regard to communicating results?

The internal auditor should present material information to appropriate personnel within the organization without revealing confidential matters that could be detrimental to the organization

The internal auditor should disclose all material information obtained by the date of the final engagement communication.

The internal auditor should obtain all material information within the established time and budget parameters.

The internal auditor should reveal material facts that could potentially distort the reporting of activities under review

NEW QUESTION 77
During an audit of a multinational organization’s procurement process, an internal auditor identifies a control weakness that could allow unauthorized vendor master file changes.
Management acknowledges the issue but states that no fraudulent activity has been detected.
Which of the following should the auditor do FIRST?

Expand testing to determine whether fraud has occurred.

Report the issue immediately to external auditors.

Evaluate the significance of the control deficiency and its potential risk impact.

Recommend disciplinary action against the procurement manager.

NEW QUESTION 78
Which of the following statements is true regarding partnership liquidation?

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

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

Partnership liquidation occurs when there is capital deficiency.

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