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: Feb 17, 2025

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Question 1

Which of the following is an example of a risk management avoidance response?

A : iting a marketplace.

B : calling a product.

C : taining product insurance.

D : tsourcing production.

Answer: A

Question 2

A department purchased one copy of a software program for internal use. The manager of the department installed the program on an office computer and then made two complete copies of the original software.

Copy 1 was solely for backup purposes.

Copy 2 was for use by another member of the department.

In terms of software licenses and copyright law, which of the following is correct?

A : th copies are legal.

B : ly copy 1 is legal.

C : ly copy 2 is legal.

D : ither copy is legal.

Answer: B

Question 3

Which of the following describes the result if an organization records merchandise as a purchase, but fails to include it in the closing inventory count?

A : cost of goods sold for the period will be understated.

B : cost of goods sold for the period will be overstated.

C : net income for the period will be understated.

D : ere will be no effect on the cost of goods sold or the net income for the period.

Answer: B

Question 4

An internal auditor is reviewing the accounts receivable when she discovers account balances more than three years old. The auditor was previously supervising the area during this time, and she subsequently advises the chief audit executive (CAE) of a potential conflict.

Which of the following is the most appropriate course of action for the CAE to take?

A : place the auditor with another audit staff member.

B : ntinue with the present auditor, as more than one year has passed.

C : thdraw the audit team and outsource the financial audit of the division.

D : rk with the division's management to resolve the situation.

Answer: A

Question 5

Which of the following would be the most important consideration by the internal audit activity when selecting employees to perform an internal quality assessment?

A : eir understanding of auditing standards.

B : evious experience working with the internal audit activity.

C : eir reporting line within the organization.

D : nature of their regular duties and responsibilities.

Answer: A

Page: 1 / 122

Total 610 Questions | Updated On: Feb 17, 2025

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