Free IIA IIA-ACCA Exam Questions

Become IIA Certified with updated IIA-ACCA exam questions and correct answers

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Total 610 Questions | Updated On: Jan 10, 2025

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Question 1

Which of the following is an effective approach for internal auditors to take to improve collaboration with audit clients during an engagement?

1. Obtain control concerns from the client before the audit begins so the internal auditor can tailor the scope accordingly.

2. Discuss the engagement plan with the client so the client can understand the reasoning behind the approach.

3. Review test criteria and procedures where the client expresses concerns about the type of tests to be conducted.

4. Provide all observations at the end of the audit to ensure the client is in agreement with the facts before publishing the report.

A : 1 and 2 only

B : 1 and 4 only

C : 2 and 3 only

D : 3 and 4 only

Answer: A

Question 2

Which of the following statements about internal audit's follow-up process is true?

A : nature, timing, and extent of follow-up for assurance engagements is standardized to ensure quality performance.

B : actions of external auditors and other external assurance providers is not encompassed by internal audit's follow-up process.

C : ternal auditors have responsibility for determining if management and the board have implemented the recommended action or otherwise accepted the risk.

D : follow-up process must be complete and documented in the working papers in order to conclude the engagement.

Answer: C

Question 3

An organization is considering mirroring the customer data for one regional center at another center. A disadvantage of such an arrangement would be:

A : ck of awareness of the state of processing.

B : creased cost and complexity of network traffic.

C : terference of the mirrored data with the original source data.

D : nfusion about where customer data are stored.

Answer: B

Question 4

Which of the following is an example of a phishing attack?

A : employee receives an email that appears to be from the organization's bank, though it is not. The employee replies to the email and sends the requested confidential information.

B : organization's website has been hacked. The hacker added political content that is not consistent with the organization's views.

C : organization's systems have been compromised by malicious software. The software locks the organization's operating system until d ransom is paid.

D : organization's communication systems have been intercepted. A communication session is controlled by an unauthorized third party.

Answer: A

Question 5

Forty-five percent of an organization's customer payments are submitted online. Eight percent of online payments are rejected. Executive management decides to outsource its online payment services to a contractor that will assume 75 percent of the total value of rejected payments. The organization estimates $1.25 million customer payments due during the contract period.

Which of the following represents the organization's residual risk for online customer payments due?

A : $11, 250

B : $25, 000

C : $33, 750

D : $45, 000

Answer: A

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Total 610 Questions | Updated On: Jan 10, 2025

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