IIA IIA-CHAL-QISA Online Practice Questions and Exam Preparation

IIA IIA-CHAL-QISA Online Questions & Answers

• Question 61:

  According to IIA guidance, which of the following most appropriately justifies the CEO's decision that the internal audit activity shall be responsible for risk management and Investigation at multinational organization?

  A. The recommendation of the parent office external auditors.
  B. The provisions of the internal audit charter.
  C. The authority of the CEO.
  D. The level of proficiency of the chief audit executive
  B. The provisions of the internal audit charter.

• Question 62:

  If the skills and competencies are not present within the internal audit activity to complete an ad-hoc assurance engagement, which of the following is an acceptable resolution?

  A. Politely decline the engagement due to a lack of qualified staff available at the time.
  B. Complete the engagement as requested, with the best of the current staff's abilities.
  C. Consider using employees from other departments in the organization on the audit team.
  D. Change the scope of the testing to ensure that only available staff proficiencies are used
  C. Consider using employees from other departments in the organization on the audit team.

• Question 63:

  Which of the following activities would an internal auditor perform as a consulting engagement for an organization?

  A. Advising new internal auditors working for the organization on how to develop strategies on planning audits for the upcoming fiscal year
  B. Assessing whether the organization's corporate social responsibility program is meeting its yearly goals to reduce carbon emissions.
  C. Briefing the organization's department managers on how to implement risk management processes into their daily operations.
  D. Communicating with senior management to better understand how new purchasing controls will minimize payment processing time
  C. Briefing the organization's department managers on how to implement risk management processes into their daily operations.

• Question 64:

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

  A. A clothing company designs, makes, and sells a new item.
  B. A commercial construction company is hired to build a warehouse.
  C. A city department sets up a new firefighter training program.
  D. A manufacturing organization acquires component parts from a contracted vendor
  B. A commercial construction company is hired to build a warehouse.

• Question 65:

  The internal audit activity is asked to review the effectiveness of controls around the disposal of chemical waste. However, the internal auditors on staff lack the necessary skills to conduct this review. Which of the following would be the most appropriate approach?

  A. An internal auditor who recently attended a three-day workshop on chemical waste disposal, and therefore has the most knowledge on the topic, should lead the engagement.
  B. A team of available internal auditors should be assembled and should consult with an external nonaudit expert on chemical waste disposal to plan and conduct the engagement.
  C. A team of the most knowledgeable auditors could be assembled and use the engagement work program from the previous year to gather additional insight regarding recommended audit procedures
  D. A nonaudit employee from the chemical disposal area may share his expertise with the audit team, provided the internal audit manager conducts a detailed review of all engagement work performed.
  B. A team of available internal auditors should be assembled and should consult with an external nonaudit expert on chemical waste disposal to plan and conduct the engagement.

• Question 66:

  According to Herzberg's Two-Factor Theory of Motivation, which of the following factors are mentioned most often by satisfied employees?

  A. Salary and status.
  B. Responsibility and advancement
  C. Work conditions and security.
  D. Peer relationships and personal life
  B. Responsibility and advancement

• Question 67:

  Which of the following is an example of a properly supervised engagement?

  A. Auditors are asked to keep a daily record of their activity for review by the auditor in charge following the engagement.
  B. The senior internal auditor requires each auditor to review and initial colleagues' workpapers for completeness and format
  C. A new internal auditor is accompanied by an experienced auditor during a highly sensitive fraud investigation.
  D. The auditor in charge provides reasonable assurance that engagement objectives were met
  D. The auditor in charge provides reasonable assurance that engagement objectives were met

• Question 68:

  For a new board chair who has not previously served on the organization's board, which of the following steps should first be undertaken to ensure effective leadership to the board?

  A. Chair should learn the current organizational culture of the company.
  B. Chair should learn the current risk management system of the company
  C. Chair should determine the appropriateness of the current strategic risks.
  D. Chair should gain an understanding of the needs of key stakeholders.
  A. Chair should learn the current organizational culture of the company.

• Question 69:

  A multinational organization has asked the internal audit activity to assist in setting up the organization's risk management system The chief audit executive (CAE) agrees to take on the engagement as a consultant. Which of the following tasks is appropriate for the CAE to undertake?

  A. Coordinate and facilitate risk workshops for management to attend
  B. Establish the degree of risk appetite for management to accept.
  C. Set risk Indicators and mitigation plans for management to Implement.
  D. Determine the number of significant risks for management to report to the board
  A. Coordinate and facilitate risk workshops for management to attend

• Question 70:

  Which of the following best demonstrates internal auditors performing their work with proficiency?

  A. internal auditors meet with operational management at each phase of the audit process.
  B. Internal auditors adhere to The IIA's Code of Ethics.
  C. Internal auditors work collaboratively with their engagement team.
  D. Internal auditors complete a program of continuing professional development.
  D. Internal auditors complete a program of continuing professional development.