Free IIA IIA-CHAL-QISA Exam Questions

Become IIA Certified with updated IIA-CHAL-QISA exam questions and correct answers

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Total 152 Questions | Updated On: Aug 13, 2026

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Question 1

Which of the following statements is true regarding partnership liquidation?

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

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

C : Partnership liquidation occurs when there is capital deficiency.

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

Answer: B

Question 2

Which of the following best describes why an internal audit activity would consider sending written preliminary observations to the audit client?

A : Written observations allow for more interpretation.

B : Written observations help the internal auditors express the significance.

C : Written and verbal observations are equally effective.

D : Written observations limit premature agreement

Answer: C

Question 3

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

A : Mitigating risks affecting achievement of organizational objectives.

B : Enabling opportunities affecting achievement of organizational objectives.

C : Analyzing and advising regarding costs versus benefits of control activities.

D : Attesting to fairness of financial statements

Answer: C

Question 4

An internal auditor believes that the internal audit activity's independence is impaired Which of the following actions should the internal auditor take first?

A : Report the impairment to senior management

B : Discuss the impairment with the audit manager.

C : Ascertain the best approach to disclose the impairment.

D : Decide on the extent of impact of the impairment

Answer: B

Question 5

Which of the following situations is most likely to heighten an internal auditors professional skepticism regarding potential fraud?

A : A procurement manager does not have the expected academic credentials for his position

B : A salesperson frequently complains about the organization's policy on sales commissions.

C : The accounts payable supervisor has requested advances against her monthly salary on several occasions

D : A financial accountant is absent from work frequently due to regular medical procedures

Answer: A

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Total 152 Questions | Updated On: Aug 13, 2026

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