Online Access Free IIA-CHAL-QISA Practice Test

The internal audit activity is responsible for which of the following actions related to an organization's internal controls9

• A.Analyzing and advising regarding costs versus benefits of control activities.
• B.Attesting to fairness of financial statements
• C.Enabling opportunities affecting achievement of organizational objectives.
• D.Mitigating risks affecting achievement of organizational objectives.

An engagement supervisor obtains facilities maintenance reports from a contractor during an audit of third-party services. Which of the following is the source of authority for the engagement supervisor to make such contact outside the organization?

• A.The policies and procedures of the internal audit activity.
• B.The authority of the CEO.
• C.The IIA's Code of Ethics.
• D.The provisions of the internal audit charter.

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?

• A.Both total sales and cost of ingredients used are less than expected.
• B.On a rainy day. total sales are greater than expected when compared to the cost of ingredients used
• C.On a sunny day. total sales are less than expected when compared to the cost of ingredients used.
• D.Both total sales and cost of ingredients used are greater than expected.

According to IIA guidance, which of the following actions by the chief audit executive would best ensure that internal auditors demonstrate due professional care?

• A.Developing policies and procedures for the internal audit activity
• B.Ensuring the internal audit activity reports functionally to the board of directors
• C.Undertaking all engagements that management requests of the internal audit activity.
• D.Ensuring the internal audit activity is not found fallible during audit engagements.

In an assurance engagement focused on the adequacy of organizationwide risk management practices, which of the following best describes a primary area of interest for the engagement?

• A.The alignment of management decisions with the level of risk the organization is willing to accept.
• B.The effectiveness of process-level and transaction-level controls.
• C.The actions of upper management in response to the internal audit acth/lty's reporting
• D.Conflicts of interest within the organizational structure of the senior management.