IIA-CHAL-QISA Practice Questions

A.  

Internal audit activity policies and engagement records provide relevant, sufficient, and competent evidence that the statement is correct.

B.  

The audit committee has reviewed the annual self-assessment results and approved the use of the clause.

C.  

The self-assessment results were validated by a qualified external review team three years prior.

D.  

The internal audit charter, approved by the audit committee, requires conformance with the Standards

A.  

Enable training and development of staff, identify engagement objectives, and assign responsibilities to individual auditors.

B.  

Identify engagement objectives, assign responsibilities to individual auditors, and approve the engagement program.

C.  

Assign responsibilities to individual auditors, approve the engagement program, and enable training and development of staff.

D.  

Approve the engagement program, enable training and development of staff, and identify engagement objectives

A.  

A condition-based action plan

B.  

A cause-based action plan.

C.  

A root cause-based action plan.

D.  

An effect-based action plan.

A.  

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

B.  

Inquiry of corrective action to be completed within a certain period

C.  

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

D.  

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

A.  

Appoint the chief audit executive as a member of the board.

B.  

Adopt written policies and procedures for the internal audit activity, approved by the board.

C.  

Ensure the chief audit executive reports administratively to the audit committee.

D.  

Establish the internal audit activity's position within the organization in an audit charter

A.  

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

B.  

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

C.  

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

D.  

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

A.  

The auditor should make a note of the issue for follow-up when employee travel expenses are audited.

B.  

The auditor should analyze trends and changes among the organization's suppliers over the past few years.

C.  

The auditor should investigate whether there are any special arrangements regarding senior management travel.

D.  

The auditor should analyze the list of destinations the department head visited to estimate typical costs

A.  

Developing policies and procedures for the internal audit activity

B.  

Ensuring the internal audit activity is not found fallible during audit engagements.

C.  

Undertaking all engagements that management requests of the internal audit activity.

D.  

Ensuring the internal audit activity reports functionally to the board of directors

A.  

Reporting results of audits with recommendations to management.

B.  

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

C.  

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

D.  

Discussing audit findings with independent auditors.

A.  

Sum of the years’ digits.

B.  

Declining balance.

C.  

Double-declining balance.

D.  

Straight line.