IIA Exam IIA-CHAL-QISA Topic 2 Question 20 Discussion

Actual exam question for IIA's IIA-CHAL-QISA exam

Question #: 20
Topic #: 2

A bakery chain has a statistical model that can be used to predict daily sales at individual stores based on a direct relationship to the cost of ingredients used and an inverse relationship to rainy days What conditions would an auditor look for as an Indicator of employee theft of food from a specific store?

AOn a rainy day. total sales are greater than expected when compared to the cost of ingredients used

BOn a sunny day. total sales are less than expected when compared to the cost of ingredients used.

CBoth total sales and cost of ingredients used are greater than expected.

DBoth total sales and cost of ingredients used are less than expected.

Show Suggested Answer

Suggested Answer: C

ISO 31000 Context: ISO 31000 provides guidelines on risk management, emphasizing the importance of understanding the external context.

External Context: This includes external factors such as regulatory and competitive environments that can impact the organization's risk profile.

Regulatory Environment: Understanding regulations helps the organization ensure compliance and avoid legal risks.

Competitive Environment: Analyzing the competitive environment allows the organization to anticipate market changes and manage competitive risks.

ISO 31000 Risk Management Guidelines.

by Maxima at Jan 13, 2025, 08:20 AM

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Gerald

9 hours ago

I agree with Dortha, it could indicate employee theft if sales are higher than expected on a rainy day.

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Dortha

1 days ago

I think an auditor would look for option A, on a rainy day total sales are greater than expected.

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