IIA-ACCA Exam Questions Instant Access - No Installation Required

Question 1

Which of the following is least likely to help ensure that risk is considered in a work program?

ARisks are discussed with audit client.

BAll available information from the risk-based plan is used.

CClient efforts to affect risk management are considered.

DPrior risk assessments are considered.

Answer : D

Question 2

An organization has instituted a bring-your-own-device (BYOD) work environment Which of the following policies best addresses the increased risk to the organization's network incurred by this environment?

ALimit the use of the employee devices for personal use to mitigate the risk of exposure to organizational data.

BEnsure that relevant access to key applications is strictly controlled through an approval and review process

CInstitute detection and authentication controls for all devices used for network connectivity and data storage

DUse management software to scan and then prompt patch reminders when devices connect to the network

Answer : D

Question 3

An internal audit charter should do which of the following?

AOutline the schedule of future audits.

BDefine the scope of internal audit activities.

CEstablish the size of the internal audit activity.

DCommunicate the internal audit activity's goals.

Answer : B

Question 4

How do data analysis technologies affect internal audit testing?

AThey improve the effectiveness of spot check testing techniques

BThey allow greater insight into high risk areas.

CThey reduce the overall scope of the audit engagement.

DThey increase the internal auditor's objectivity

Answer : B

Question 5

According to IIA guidance, which of the following roles would be appropriate for an internal auditor regarding fraud risk?

1. Identification.

2. Mitigation.

3. Remediation.

4. Reduction.

A1 only. |

B1 and 4 only.

C1, 3, and 4 only.

D1,2, 3, and 4.

Answer : B

Question 6

Which of the following is an appropriate role for the internal audit activity with regard to the organization's risk management program?

AIdentify and manage risks in line with the organization's risk appetite.

BEnsure that a proper and effective risk management process exists.

CAttain an adequate understanding of the organization's key risk mitigation strategies.

DIdentify and ensure that appropriate controls exist to mitigate risks.

Answer : C

Question 7

Which of the following financial instruments should be recorded at fair market value on the financial statements?

AAccounts receivable in the short term

BBonds to be held to maturity.

CNotes receivable in the short term

DBonds to be held for sale in the short term.

Answer : D

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