IIA IIA-ACCA ACCA CIA Challenge Exam Online Training
IIA IIA-ACCA Online Training
The questions for IIA-ACCA were last updated at Feb 26,2025.
- Exam Code: IIA-ACCA
- Exam Name: ACCA CIA Challenge Exam
- Certification Provider: IIA
- Latest update: Feb 26,2025
While preparing for an audit of senior management expenses, the chief audit executive (CAE) learns that management is unable to locate a number of original expense claims to support the related disbursements. She decides to defer the engagement until they can be located.
Which of the following principles likely guided the CAE’s decision?
- A . Objectivity.
- B . Proficiency.
- C . Independence.
- D . Due professional care.
According to IIA guidance, which of the following must the internal auditor consider to meet the requirements for due professional care?
- A . The training courses necessary to enhance the internal auditor’s knowledge, skills, and other competencies.
- B . The appropriateness of assurance procedures necessary to ensure all significant risks will be identified.
- C . The use of innovative technology and data analysis techniques.
- D . The extent of work needed to achieve the engagement’s objectives.
Which of the following is not an objective of internal control?
- A . Compliance.
- B . Accuracy.
- C . Efficiency.
- D . Validation.
A headquarters-based internal auditor has been sent to a major overseas subsidiary to conduct various engagements. Initially, the internal auditor spends time to become familiar with local customs and organization’s practices while embarking on the first engagement.
Which of the following competencies does the internal auditor exercise?
- A . Communication.
- B . Persuasion and collaboration.
- C . Business acumen.
- D . Governance, risk, and control.
According to IIA guidance, which of the following statements describes one of the similarities between assurance and consulting services?
- A . When planning assurance and consulting engagements, internal auditors must consider the strategies and objectives of the activity being reviewed.
- B . Internal auditors determine the engagement objectives, scope, and work program for both assurance and consulting services.
- C . Internal auditors must not provide assurance or consulting services for an activity for which they had responsibility within the previous year.
- D . Both assurance and consulting services generally involve the internal auditor, the area under review, senior management, and the board.
An organization is beginning to implement an enterprise risk management program. One of the first steps is to develop a common risk language.
Which of the following statements about a common risk language is true?
- A . Management will be able to reduce inherent risk because they will have a better understanding of risk.
- B . Internal auditors will be able to reduce their sample sizes because controls will be more consistent.
- C . Stakeholders will have more assurance that the risks are assessed consistently.
- D . Decision makers will understand that the likelihood of missing or ineffective controls will be reduced.
Which of the following is the primary engagement responsibility of an entry-level internal auditor?
- A . Leadership.
- B . Documentation.
- C . Analysis.
- D . Reporting.
Which of the following options is the most cost-effective and efficient way for internal auditors to keep current with the latest developments in the internal audit profession?
- A . Attending annual professional conferences and seminars.
- B . Participating in on-the-job training in various departments of the organization.
- C . Pursuing as many professional certifications as possible.
- D . Maintaining membership in The HA and similar professional organizations and subscribing to relevant email updates or news feeds.
According to The MA Global Internal Audit Competency Framework, which of the following areas of training would best assist the internal audit activity in improving its use of tools and techniques?
- A . Negotiation and conflict resolution.
- B . Project management.
- C . Financial accounting.
- D . Ethics and fraud.
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
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