IIA-CHAL-QISA Exam Questions - Navigate Your Path to Success

The IIA Qualified Info Systems Auditor CIA Challenge (IIA-CHAL-QISA) exam is a good choice and if the candidate manages to pass IIA Qualified Info Systems Auditor CIA Challenge exam, he/she will earn IIA Certified Internal Auditor Certification. Below are some essential facts for IIA IIA-CHAL-QISA exam candidates:

TrendyCerts offers 150 Questions that are based on actual IIA-CHAL-QISA syllabus.
Our IIA-CHAL-QISA Exam Practice Questions were last updated on: Feb 28, 2025

Sample Questions for IIA-CHAL-QISA Exam Preparation

Question 1

An organization invests excess short-term cash in trading securities Which of the following actions should an internal auditor take to test the valuation of those securities'*

AUse the equity method to recalculate the investment carrying value

BConfirm the securities held by the broker.

CPerform a calculation of premium or discount amortization.

DCompare the carrying value with current market quotations

Correct : D

Testing Valuation: The valuation of trading securities requires comparing their carrying value with current market prices to ensure accuracy.

Market Quotations: Current market quotations provide the most reliable and up-to-date information on the fair value of securities.

Accounting Standards: This approach is consistent with accounting standards that require securities to be reported at fair value, reflecting any unrealized gains or losses.

Verification Process: Comparing the carrying value with market quotations helps verify that the securities are appropriately valued on the financial statements.

International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP) regarding fair value measurement.

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9 Votes 90%

Question 2

Which of the following resources would be most effective for an organization that would like to improve how it informs stakeholders of its social responsibility performance?

AISO 26000

BGlobal Reporting Initiative.

COpen Compliance and Ethics Group.

DCOSO's enterprise risk management framework.

Correct : B

Understanding the GRI: The Global Reporting Initiative (GRI) provides a comprehensive framework for reporting on sustainability performance, including social responsibility aspects.

Framework and Standards: GRI standards are widely used and recognized globally, which helps organizations benchmark their performance against other entities using the same framework.

Stakeholder Communication: The GRI framework emphasizes transparency and accountability in reporting, making it an effective tool for informing stakeholders about an organization's social responsibility performance.

Comprehensive Coverage: GRI covers various aspects of social responsibility, including economic, environmental, and social impacts, providing a holistic view of an organization's performance.

The Global Reporting Initiative (GRI) .

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