Free IIA IIA-CHAL-QISA Exam Dumps Questions & Answers

Which of the following is applicable to both a job order cost system and a process cost system'?

• A.  Total manufacturing costs are determined at the end of each period.
• B.  The unit cost can be calculated by dividing the total manufacturing costs for the period by the units produced during the period.
• C.  Costs are summarized in a production cost report for each department
• D.  Three manufacturing cost elements are tracked: direct materials, direct labor, and manufacturing overhead.

A rapidly expanding retail organization continues to be tightly controlled by its original small management team. Which of the following is a potential risk in this vertically centralized organization?

• A.  Duplication of business activities.
• B.  Operational decisions are inconsistent with organizational goals.
• C.  Suboptimal decision-making.
• D.  Lack of coordination among different business units

The organization's internal audit charter was last updated six years ago to update the charter, which of the following actions is most appropriate for the chief audit executive to take?

• A.  Wait for the next external assessment and address all of the missing information in the charter based on the recommendations from the external assessment team
• B.  Use an internal audit charter template from another organization that operates within the same industry.
• C.  Perform a review of HA guidance to become acquainted with the latest mandatory elements prior to updating the charter
• D.  Identify an individual within the internal audit activity who has in-depth knowledge of mandatory IIA guidance elements to address any gaps or areas of the current version of the charter that could be improved

According to IIA guidance, which of the following statements is true regarding engagement planning?

• A.  For both consulting and assurance engagements, internal auditors usually form the engagement objectives prior to completing the preliminary risk assessment
• B.  The expectations and objectives of an assurance engagement are usually determined by. or in conjunction with, the engagement client
• C.  Internal auditors may not need to complete a preliminary risk assessment for a consulting engagement as they would when planning an assurance engagement.
• D.  For both assurance and consulting engagements, planning typically occurs after the engagement objectives and scope have already been determined.

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

• A.  A financial accountant is absent from work frequently due to regular medical procedures
• B.  A procurement manager does not have the expected academic credentials for his position
• C.  The accounts payable supervisor has requested advances against her monthly salary on several occasions
• D.  A salesperson frequently complains about the organization's policy on sales commissions.