Get Use IIA IIA-CHAL-QISA PDF Questions [2026]

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IIA IIA-CHAL-QISA Exam Syllabus Topics:

Topic	Details
Topic 1	Essentials of Internal Auditing: This domain has topics such as foundations of internal auditing, independence aconcept of governance and CSR.nd objectivity, Proficiency and Due Professional Care, QA, and Managing Risks. The domain covers describing the
Topic 2	Practice of Internal Auditing: This domain covers strategies and policies related to planning, organizing, controlling of internal audit processes, and understanding administrative activities such as resourcing, recruiting, and staffing. Moreover, this domain covers goals of engagement and assessment criteria in addition to planning the engagement to ensure the identification of key risks and controls.
Topic 3	Business Knowledge for Internal Auditing: This domain covers the vital planning phases and efforts and common performance measures. It also includes ways for management to effectively lead and counsel people to increase their commitment. Also, the domain covers financial accounting and managerial accounting fundamentals and the treatment of various costs.

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IIA Qualified Info Systems Auditor CIA Challenge Exam Sample Questions (Q27-Q32):

NEW QUESTION # 27
Which of the following methods is most closely associated to year over year trends?

A. Ratio analysis.
B. Vertical analysis.
C. Horizontal analysts
D. Common-size analysis.

Answer: C

Explanation:
* Introduction:
* Horizontal analysis involves comparing financial data across multiple periods to identify trends and patterns over time.
* Year-over-Year Trends:
* This method helps in understanding changes in financial performance and position year-over-year.
* Options Analysis:
* Option A: Horizontal analysis is directly related to comparing data year-over-year.
* Option B: Vertical analysis involves comparing items on a financial statement as a percentage of a base figure within the same period.
* Option C: Common-size analysis is a type of vertical analysis where all items are expressed as a percentage of a common base.
* Option D: Ratio analysis evaluates relationships between different financial statement items but is not primarily focused on year-over-year trends.
* Conclusion:
* Horizontal analysis is most closely associated with year-over-year trends as it involves reviewing financial data across periods.

NEW QUESTION # 28
A risk has a high likelihood and low impact.
Which response is MOST appropriate?

A. Transfer immediately.
B. Evaluate whether treatment is cost-effective.
C. Escalate to the board.
D. Automatically avoid the risk.

Answer: B

Explanation:
Risk response decisions should consider both impact and cost-benefit factors.

NEW QUESTION # 29
Which of the following should be included in a company's year-end inventory valuation?

A. Goods purchased by the company, free on board destination, that have not yet been received.
B. Company goods for sale on consignment at a consignment shop
C. Company goods that were sold during the year, free on board shipping point, that have been shipped but not yet received by the customer
D. Goods on consignment, which the company is trying to sell for its customers.

Answer: B

Explanation:
Year-end inventory valuation should include all goods owned by the company, regardless of their location.
This includes goods for sale on consignment at a consignment shop, as these items remain the property of the company until sold. Goods sold FOB shipping point and goods purchased FOB destination that have not yet been received are not included, as ownership has transferred or not yet been acquired respectively. Goods on consignment that the company is trying to sell for others are also excluded because the company does not own them

NEW QUESTION # 30
Which of the following statements best describes the difference between risk appetite and risk tolerance?

A. Risk appetite refers to an organization's general level of acceptance, while risk tolerance is a more specific and subordinate concept
B. Risk appetite applies to specific objectives, while risk tolerance refers to an organization's general attitude toward risk.
C. There is no significant difference between the two terms
D. Risk appetite refers to the degree of risk acceptance for a particular objective, while risk tolerance is one approach to risk management

Answer: A

Explanation:
Definition of Risk Appetite: Risk appetite is the amount and type of risk an organization is willing to pursue or retain to achieve its objectives. It reflects the organization's overall approach to risk- taking and is typically articulated at the highest level of the organization.
Definition of Risk Tolerance: Risk tolerance refers to the acceptable variation relative to the achievement of specific objectives. It is more granular and specific than risk appetite, detailing the levels of risk that are acceptable within the parameters set by the organization's risk appetite.

NEW QUESTION # 31
Which of the following is most appropriate for internal auditors to do during the internal audit recommendations monitoring process?

A. Report the monitoring status to senior management when requested.
B. Include all types of observations in the monitoring process
C. Determine the frequency and approach to monitoring
D. Assist management with implementing corrective actions.

Answer: C

Explanation:
Introduction:
The monitoring process for internal audit recommendations is a crucial element to ensure that corrective actions are implemented effectively.
Responsibilities in Monitoring:
Internal auditors are responsible for determining how frequently and in what manner the monitoring of audit recommendations should take place. This includes setting a schedule and deciding on the methods to be used for tracking progress.

NEW QUESTION # 32
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