IIA-CHAL-QISA Exam Dumps : Qualified Info Systems Auditor CIA Challenge Exam

Proficiency in internal auditing is not only about technical skills but also involves continuous education and staying updated with the latest practices and standards in the field.

Option D reflects the commitment to ongoing professional development, ensuring that internal auditors maintain and enhance their proficiency over time.

The Institute of Internal Auditors (IIA) emphasizes the importance of continuing professional development as a means to ensure auditors remain competent in their roles

Introduction:

Understanding cost behavior is crucial in managing production and financial performance in manufacturing.

Cost Characteristics:

Fixed costs remain constant in total but vary per unit with changes in production volume.

Variable costs vary directly with production volume but remain constant per unit.

Options Analysis:

Option A: Variable costs per unit remain constant regardless of production volume.

Option B: Fixed costs per unit decrease as production volume increases, not directly.

Option C: Total variable costs vary directly with production volume, not inversely.

Option D: Fixed costs per unit will decline as the number of units produced increases due to the spreading of fixed costs over a larger number of units.

Conclusion:

When production increases by 30%, the fixed cost per unit will decline as the same total fixed cost is allocated over a greater number of units.

According to IIA guidance, one of the best practices for enhancing the organizational independence of the internal audit activity is for the chief audit executive (CAE) to meet privately with the board at least annually. This practice reinforces the independence of the internal audit function by ensuring direct and unfiltered communication with the board.

Direct Communication: Private meetings with the board allow the CAE to discuss audit findings, concerns, and other important matters without management's influence, thereby preserving the objectivity and independence of the internal audit function.

Board Support: This direct line of communication helps to secure the board’s support for the internal audit activity, which is critical for its effective functioning.

Independence: Such meetings underscore the independence of the internal audit activity from management, reinforcing its role in providing unbiased assurance.

References:

"IIA Standards for the Professional Practice of Internal Auditing," which recommends private meetings between the CAE and the board to support independence .