Newly Released IIA IIA-ACCA Exam PDF

ACCA CIA Challenge Exam Questions and Answers

Question 13

According to IIA guidance, which of the following is least likely to be a key financial control in an organization's accounts payable process?

Options:

Require the approval of additions and changes to the vendor master listing, where the inherent risk of false vendors is high.

Monitor amounts paid each period and compare them to the budget to identify potential issues.

Compare employee addresses to vendor addresses to identify potential employee fraud.

Monitor customer quality complaints compared to the prior period to identify vendor issues.

Question 14

A newly promoted chief audit executive (CAE) is faced with a backlog of assurance engagement reports to review for approval. In an attempt to attach a priority for this review, the CAE scans the opinion statement on each report. According to IIA guidance, which of the following opinions would receive the lowest review priority?

1. Graded positive opinion.

2. Negative assurance opinion.

3. Limited assurance opinion.

4. Third-party opinion.

Options:

1 and 3

1 and 4

2 and 3

2 and 4

Question 15

According to IIA guidance, organizations have the most influence on which element of fraud?

Options:

Opportunity.

Rationalization.

Pressure.

Incentives.

Question 16

An internal auditor wants to determine whether employees are complying with the information security policy, which prohibits leaving sensitive information on employee desks overnight. The auditor checked a sample of 90 desks and found eight that contained sensitive information. How should this observation be reported, if the organization tolerates 4 percent noncompliance?

Options:

The matter does not need to be reported, because the noncompliant findings fall within the acceptable tolerance limit.

The deviations are within the acceptable tolerance limit, so the matter only needs to be reported to the information security manager.

The incidents of noncompliance fall outside the acceptable tolerance limit and require immediate corrective action, as opposed to reporting.

The incidents of noncompliance exceed the tolerance level and should be included in the final engagement report.

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ACCA CIA Challenge Exam Questions and Answers

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