IIA-ACCA

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...

Which of the following types of fraud includes embezzlement?A . Fraudulent statements.B . Bribery.C . Misappropriation of assets.D . Corruption.View AnswerAnswer: C

Evidence discovered during the course of an engagement suggests that multiple incidents of fraud have occurred. There do not appear to be sufficient controls in place to prevent reoccurrence. Which of the following is the internal auditor's most appropriate next step?A . Immediately notify management of the area under review...

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...

A large sales organization maintains a system of internal control according to the COSO model and has updated its code of conduct. This change relates to which component of the COSO framework?A . Control activities.B . Information and communication.C . Commitment.D . Control environment.View AnswerAnswer: D

Which of the following is an example of a management control technique?A . A budget.B . A risk assessment.C . The board of directors.D . The control environment.View AnswerAnswer: A

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...

Which of the following responsibilities would fall under the role of the chief audit executive, rather than internal audit staff or the audit manager?A . Manage and support a quality assurance and improvement program.B . Maintain industry-specific knowledge appropriate to the audit engagementsC . Set clear performance standards for internal...

An internal auditor uses a predefined macro provided in a popular spreadsheet application to verify the present value of the organization's investments. Which of the following is the most appropriate course of action regarding the auditor's use of this functionality?A . The auditor should accept the calculations generated by the...

According to IIA guidance, the results of a formal quality assessment should be reported to which of the following groups?A . The audit committee and senior management.B . The audit committee and the external auditors.C . Senior management and management of the audited area.D . Senior management and the external...