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: Jul 28, 2025

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Question 1

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 2

Which of the following is most likely to be considered a control weakness?

A : Vendor invoice payment requests are accompanied by a purchase order and receiving report.

B : Purchase orders are typed by the purchasing department using prenumbered forms

C : Buyers promptly update the official vendor listing as new supplier sources become known.

D : Department managers initiate purchase requests that must be approved by the plant superintendent

Answer: C

Question 3

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 4

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

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

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

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

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

Answer: A

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

Page: 1 / 31

Total 152 Questions | Updated On: Jul 28, 2025

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