IIA IIA-ACCA ACCA CIA Challenge Exam Online Training
IIA IIA-ACCA Online Training
The questions for IIA-ACCA were last updated at Jan 19,2025.
- Exam Code: IIA-ACCA
- Exam Name: ACCA CIA Challenge Exam
- Certification Provider: IIA
- Latest update: Jan 19,2025
What should the internal auditor’s role be in assessing the organization’s ethical climate?
- A . Perform ongoing surveys of the employees, customers, and partners of the organization to assess the organization’s ethical climate. ^Evaluate the effectiveness of the organization’s strategies and B. processes for achieving the desired level of legal and ethical compliance.
- B . Maintain a whistleblower hotline to identify inappropriate or illegal activity within the organization.
- C . Perform background checks of potential new employees before they are hired by the organization.
According to COSO, which of the following is not considered one of the components of an organization’s internal environment?
- A . Authority and responsibility to resolve issues.
- B . Framework to plan, execute and monitor activities.
- C . Integrated responses to multiple risks.
- D . Knowledge and skills needed to perform activities.
Which of the following enhances the independence of the internal audit activity?
- A . The chief audit executive (CAE) approves the annual internal audit plan.
- B . The CAE administratively reports to the board.
- C . The audit committee approves the CAE’s annual salary increase.
- D . The chief executive officer approves the internal audit charter.
A medical insurance provider uses an electronic claims-submission process and suspects that a number of physicians have submitted claims for treatments that were not performed.
Which of the following control procedures would be most effective to detect this type of fraud?
- A . Require the physician to submit a signed statement attesting that the treatments had been performed.
- B . Send confirmations to the physicians, requesting them to verify the exact nature of the claims submitted to the insurance provider.
- C . Develop an integrated test facility and submit false claims to verify that the system is detecting such claims on a consistent basis.
- D . Use computer software to identify abnormal claims based on the insured’s age and medical history.
Which of the following activities is most likely to require a fraud specialist to supplement the knowledge and skills of the internal audit activity?
- A . Planning an engagement of the area in which fraud is suspected.
- B . Employing audit tests to detect fraud.
- C . Interrogating a suspected fraudster.
- D . Completing a process review to improve controls to prevent fraud.
Non-statistical sampling does not require which of the following?
- A . The sample to be representative of the population.
- B . The sample to be selected haphazardly.
- C . A smaller sample size than if selected using statistical sampling.
- D . Projecting the results to the population.
The internal audit activity is planning a procurement audit and needs to obtain a thorough understanding of the subcontracting process, which can involve multiple individuals in multiple countries.
Which of the following internal audit tools would be most effective to document the process and the key controls?
- A . Internal control checklist.
- B . Procurement employee survey.
- C . Cross-functional flow chart.
- D . Segregation of duties matrix.
An auditor identifies three errors in the sample of 25 entries selected for review (a 12 percent error rate). Based on this result, the auditor assumes that approximately 59 of the total population of 492 entries are incorrect.
To reach this assumption, the auditor has used a technique known as which of the following?
- A . Variability tolerance.
- B . Ratio estimation.
- C . Stratification.
- D . Acceptance sampling.
Which of the following is most likely to enhance an internal auditor’s objectivity?
- A . An auditor is appropriately able to communicate results.
- B . An auditor performs his work free from interference.
- C . An auditor is unrestricted in determination of scope.
- D . An auditor avoids conflicts of interest.
According to IIA guidance, which of the following should be formally documented in the internal audit charter?
- A . The internal audit activity’s responsibility for imposing risk management processes.
- B . The internal audit activity’s responsibility for the organization’s governance framework.
- C . The nature of consulting services provided by the internal audit activity.
- D . The budgeting process for the internal audit activity.
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