[Nov-2021] Verified IIA Exam Dumps with IIA-ACCA Exam Study Guide
Best Quality IIA IIA-ACCA Exam Questions DumpStillValid Realistic Practice Exams [2021]
NEW QUESTION 288
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.
- A. 1 and 4 only.
- B. 1, 3, and 4 only.
- C. 1 only. |
- D. 1,2, 3, and 4.
Answer: A
NEW QUESTION 289
Senior management has decided to implement the Three Lines of Defense model for risk management. Which of the following best describes senior management's duties with regard to this model?
- A. Set goals for implementation.
- B. Identify management functions.
- C. Identify emerging issues.
- D. Ensure compliance with the model.
Answer: D
NEW QUESTION 290
A chief audit executive (CAE) was asked to participate in the selection of an external auditor. Which of the following would not be a typical responsibility for the CAE?
- A. Monitor the work of the external auditors.
- B. Evaluate the proposed external auditor fee.
- C. Recommend criteria to be used in the selection process.
- D. Develop appropriate performance metrics.
Answer: D
NEW QUESTION 291
A chief audit executive is preparing interview questions for the upcoming recruitment of a senior internal auditor. According to IIA guidance, which of the following attributes shows a candidate's ability to probe further when reviewing incidents that have the appearance of misbehavior?
- A. Integrity.
- B. Curiosity.
- C. Flexibility.
- D. Initiative.
Answer: B
NEW QUESTION 292
A new director was hired to lead the internal audit activity at a small start-up company. Which of the following assignments would impair the director's independence?
- A. Performing a pre-implementation review of the company's payroll application.
- B. Reviewing the company's policy for foreign currency translation adjustments for compliance with accounting standards.
- C. Preparing the financial statements for the company's defined contribution plan.
- D. Providing the COBIT framework as a possible IT management tool.
Answer: C
NEW QUESTION 293
An internal audit team is performing an audit of workplace accident claims.
Which of the following actions by the audit team best demonstrates due professional care?
- A. Having an occupational health officer on the engagement team.
- B. Determining that the claims have been classified properly.
- C. Placing reliance on medical reports from the injured worker's doctor.
- D. Reviewing claims to ensure all accidents actually occurred in the workplace.
Answer: A
NEW QUESTION 294
Which of the following conflict resolution methods should be applied when the intention of the parties is to solve the problem by clarifying differences and attaining everyone's objectives?
- A. Competing.
- B. Compromising.
- C. Accommodating.
- D. Collaborating.
Answer: D
NEW QUESTION 295
Which of the following must be adjusted to index a progressive tax system to inflation?
- A. Tax brackets, tax deductions, and tax payments.
- B. Tax deductions, exemptions, and tax brackets.
- C. Tax deductions, exemptions, and tax filings.
- D. Tax brackets, exemptions, and nominal tax receipts.
Answer: B
NEW QUESTION 296
Which of the following is most likely to be considered a control weakness?
- A. Vendor invoice payment requests are accompanied by a purchase order and receiving report.
- B. Buyers promptly update the official vendor listing as new supplier sources become known.
- C. Department managers initiate purchase requests that must be approved by the plant superintendent.
- D. Purchase orders are typed by the purchasing department using prenumbered forms.
Answer: B
NEW QUESTION 297
Refer to the exhibit.
Presented below are partial year-end financial statement data (000 omitted from dollar amounts) for companies A and B:
If company A has a quick ratio of 2:1, then it has an accounts receivable balance of:
- A. $100
- B. $200
- C. $500
- D. $300
Answer: A
NEW QUESTION 298
A large hospital has an existing contract with a vendor in another country to provide software support and maintenance of the hospital's patient records information system. From the hospital management's perspective, which of the following controls would be most effective to address privacy risks related to this outsourcing arrangement^
- A. Implement mandatory privacy training for management to help with identifying privacy risks when outsourcing services
- B. Develop an incident monitoring and response plan to track breaches from internal and external sources
- C. Include a "right to audit" clause in the contract and impose detailed security obligations on the outsourced vendor
- D. Conduct periodic reviews of the privacy policy to ensure that the existing policy meets current legislation requirements in both regions.
Answer: D
NEW QUESTION 299
According to IIA guidance, which of the following is a primary component of a network security strategy?
- A. Transmission encryption controls
- B. Application input controls
- C. Change management controls
- D. Firewall controls.
Answer: D
NEW QUESTION 300
Which of the following scenarios best illustrates the principle of due professional care?
- A. An internal auditor uses technology-based audit techniques to ensure that all significant risks are identified.
- B. An internal auditor declares that he would have a conflict of interest in providing planned audit support.
- C. An internal auditor has been given sufficient authority to access documents needed to make an appraisal of an issue.
- D. An internal auditor evaluates the significant risks arising from a consulting engagement.
Answer: D
NEW QUESTION 301
Which of the following statements about market signaling is correct?
1. The organization releases information about a new product generation.
2. The organization limits a challenger's access to the best source of raw materials or labor.
3. The organization announces that it is fighting a new process technology.
4. The organization makes exclusive arrangements with the channels.
- A. 2 and 4 only
- B. 2 and 3 only
- C. 1 and 4 only
- D. 1 and 3 only
Answer: D
NEW QUESTION 302
Operational management in the IT department has introduced performance evaluation policies that are linked to employees achieving continuing education hours. This activity is designed to prevent which of the following conditions?
- A. Accountability/reward failure.
- B. Monitoring gap
- C. Communication failure.
- D. Knowledge/skills gap
Answer: D
NEW QUESTION 303
Which of the following steps should an internal auditor take during an audit of an organization's business continuity plans?
1. Evaluate the business continuity plans for adequacy and currency.
2. Prepare a business impact analysis regarding the loss of critical business.
3. Identify key personnel who will be required to implement the plans.
4. Identify and prioritize the resources required to support critical business processes.
- A. 1, 3, and 4 only
- B. 2 and 4 only
- C. 1, 2, 3, and 4
- D. 1 only
Answer: D
NEW QUESTION 304
During an audit, the client questions the internal audit activity's authority to perform procedures over fraud allegations. According to HA guidance, which of the following would provide the most relevant support to respond to the client's concerns?
- A. The IIA's Code of Ethics.
- B. Internal audit charter.
- C. Definition of Internal Auditing.
- D. MA Standards.
Answer: B
NEW QUESTION 305
Where complex problems need to be addressed, which of the following communication networks would be most appropriate?
- A. Circle.
- B. All-channel.
- C. Chain.
- D. Wheel.
Answer: B
NEW QUESTION 306
......
Authentic Best resources for IIA-ACCA: https://www.dumpstillvalid.com/IIA-ACCA-prep4sure-review.html
