QIA IQN Qualified Internal Auditor exact Exam Questions

Qualified Internal Auditor

Last Update 6 hours ago Total Questions : 80

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Question # 21

Reporting to senior management and the board is an important part of the auditor's obligation.

Which of the following items is not required to be reported to senior management and/or the board?

Subsequent to the completion of an audit, but prior to the issuance of an audit report, the audit senior in charge of the audit was offered a permanent position in the auditee's department.

An annual report summary of the department's audit work schedule and financial budget.

Significant interim changes to the approved audit work schedule and financial budget.

An audit plan was approved by senior management and the board. Subsequent to the approval, senior management informed the audit director not to perform an audit of a division because the division's activities were very sensitive.

Question # 22

An internal auditor found that employees in the maintenance department were not signing their time cards. This situation also existed during the last audit.

The auditor should

Include this finding in the current audit report.

Ask the manager of the maintenance department to assume the resulting risk.

Withhold conclusions about payroll internal control in the maintenance department.

Instruct the employees to sign their time cards

Question # 23

An audit of accounts payable was made to determine if the error rate was within the stated policy of 0.5%. One hundred of the 10,000 accounts payable transactions were randomly selected using a 95% confidence level. No errors were found.

With 95% certainty, one can conclude that the sample results

Indicate another sample is needed.

Prove there are no errors in accounts payable.

Indicate the null hypothesis is false.

Fail to prove the error rate is above 0.5%.

Question # 24

How does CSA differ from traditional methods of auditing?

Shifts some of the responsibilities away from the auditors towards others such as work teams.

Allocated additional responsibilities to internal audit.

Reduces the level of collaboration required between managers and internal auditor.

Allows assessment to be carried out without any internal audit involvement whatsoever, therefore allowing them to focus their attention on other areas of the organization.