IIA-ACCA

Information regarding assumptions and procedures to be employed.A . 1 and 4 onlyB . 2 and 3 onlyC . 1, 2, and 3 onlyD . 1, 2, 3, and 4View AnswerAnswer: C

An internal auditor is performing analytical reviews as part of an audit of a supermarket's merchandising department. Because the economy has declined since midyear, the auditor can expect to encounter which of the following?A . Higher inventory turnover.B . Higher operating margin.C . Lower obsolete stock disposal.D . Lower sales...

Which of the following is an example of a directive control?A . Segregation of duties.B . Exception reports.C . Incentive compensation plans.D . Automated reconciliations.View AnswerAnswer: C

Which of the following is an example of a directive control?A . Segregation of duties.B . Exception reports.C . Incentive compensation plans.D . Automated reconciliations.View AnswerAnswer: C

Planning safeguards for assets in high-risk areas.A . 1 and 2.B . 1 and 3.C . 2 and 3.D . 3 and 4.View AnswerAnswer: B

The internal audit charter requires the CAE to report functionally to the audit committee.A . 3 onlyB . 1 and 2 onlyC . 2 and 3 onlyD . 1, 2, and 3View AnswerAnswer: C

Identify fraud.A . 1 and 4.B . 1 and 3.C . 2 and 3.D . 3 and 4.View AnswerAnswer: B

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...

Which of the following would not be considered part of preliminary survey of an engagement area?A . Interviews with individuals affected by the entity.B . Functional walk through test.C . Analytical reviews.D . Sampling scope.View AnswerAnswer: D

The extent of other ongoing services that the engineer may be performing for the organization.A . 1 and 4 onlyB . 2 and 3 onlyC . 3 and 4 onlyD . 1, 2, and 4 onlyView AnswerAnswer: D