IIA-ACCA Exam Questions Tutorials

ACCA CIA Challenge Exam Questions and Answers

Question 49

Which of the following controls could an internal auditor reasonably conclude is effective by observing the physical controls of a large server room?

Options:

Adequate signs are in place to assist in locating safety equipment.

Servers are secured individually to their racks by locks.

Foam fire extinguishers are operable to protect against electrical fires.

Swipe card access is required to gain access to the server room.

Question 50

Which of the following factors should be considered when determining the appropriate combination of manual techniques and computer-assisted audit techniques (CAATs) to be used during an audit?

1. Acceptance of CAATs findings by entity management.

2. Computer knowledge and expertise of the auditor.

3. Time constraints.

4. Level of audit risk.

Options:

1 and 4

2 and 3 only

1, 2, and 3

2, 3, and 4

Question 51

Which of the following statements accurately describes an internal auditor's responsibility with regard to due professional care?

Options:

An internal auditor should express an opinion only when consensus with top management has been achieved.

An internal auditor's opinion should be based on experience and free of all bias.

An internal auditor's opinion should be based on factual evidence.

An internal auditor's opinion should be limited to the effectiveness of internal controls.

Question 52

An internal audit charter, approved by the board, restricts the internal audit activity to providing assurance only on the reliability of financial information and the effectiveness of internal accounting controls. Which of the following statements is true regarding the extent to which the external auditor may rely on the internal audit activity's work?

Options:

The external auditor may make full use of the work, as the audit charter is very specific as to the work the internal audit activity may undertake.

The external auditor may use the work, as the board has approved the charter, thus taking responsibility for any deficiencies.

The external auditor must disregard the work, as the scope of the charter may introduce bias and result in a lack of due professional care.

The external auditor may use the work with caution, due to the internal audit activity's scope and responsibility restrictions.

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ACCA CIA Challenge Exam Questions and Answers

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