Ultimate Guide to the IIA-ACCA – Latest Feb 10, 2023 Edition Available Now [Q139-Q155]

By adminOn February 10, 2023

Rate this post

Ultimate Guide to the IIA-ACCA – Latest Feb 10, 2023 Edition Available Now

2023 Updated Verified Pass IIA-ACCA Exam – Real Questions and Answers

IIA IIA-ACCA Exam Syllabus Topics:

Topic	Details
Topic 1	Communicating Engagement Results and the Acceptance of Risk Formulate recommendations to enhance and protect organizational value
Topic 2	Develop checklists and risk-and-control questionnaires as part of a preliminary survey of the engagement area Identify key activities in supervising engagements
Topic 3	Demonstrate communication quality Describethe process for communicating risk acceptance Recognize the application of data analytics methods in internal auditing
Topic 4	Manage monitoring and follow-up of the disposition of audit engagement results communicated to management and the board Arrange preliminary communication with engagement clients
Topic 5	Describe the audit engagement communication and reporting process Complete a detailed risk assessment of each audit area, including evaluating and prioritizing risk and control factors
Topic 6	Prepare interim reporting on the engagement progress Evaluate the relevance, sufficiency, and reliability of potential sources of evidence
Topic 7	Prepare work papers and documentation of relevant information to support conclusions and engagement results

NO.139 According to IIA guidance, which of the following factors should the auditor in charge consider when determining the resource requirements for an audit engagement?

The number, experience, and availability of audit staff as well as the nature, complexity, and time constraints of the engagement.

The appropriateness and sufficiency of resources and the ability to coordinate with external auditors.

The number, proficiency, experience, and availability of audit staff as well as the ability to coordinate with external auditors.

The appropriateness and sufficiency of resources as well as the nature, complexity, and time constraints of the engagement.

NO.140 Which of the following best describes a market signal?

The bargaining power of buyers is forcing a drop in market prices.

There is pressure from the competitor’s substitute products.

Strategic analysis by the organization indicates feasibility of expanding to new market niches.

The competitor announces a new warranty program.

NO.141 What must be monitored in order to manage risk of consumer product inventory obsolescence?
1. Inventory balances.
2. Market share forecasts.
3. Sales returns.
4. Sales trends.

1 only

4 only

1 and 4 only

1, 2, and 3 only

NO.142 According to IIA guidance, which of the following is true when the internal audit activity is asked to investigate potential ethics violations in a foreign subsidiary?

Communication of any internal ethics violations to external parties may occur with appropriate safeguards.

Cultural impacts are less critical where the organization practices uniform polices around the globe.

Cross-cultural differences should always be handled by the staff of the same cultural background.

Local law enforcement should be involved as they are more familiar with the applicable local laws.

NO.143 Organizational activities that complement each other and create a competitive advantage are called a:

Merger.

Strategic fit.

Joint venture.

Strategic goal.

NO.144 According to IIA guidance, which of the following would not be a consideration for the internal audit activity (IAA) when determining the need to follow-up on recommendations?

Degree of effort and cost needed to correct the reported condition.

Complexity of the corrective action.

Impact that may result should the corrective action fail.

Amount of resources required to conduct the follow-up activities.

NO.145 The balanced scorecard approach differs from traditional performance measurement approaches because it adds which of the following measures?
1. Financial measures
2. Internal business process measures.
3. Client satisfaction measures
4. Innovation and learning measures

1 only.

2 and 4 only.

3 and 4 only.

2, 3, and 4 only

NO.146 Which of the following best describes the details that must be included in the quality assurance and improvement program (QAIP) report to senior management and the board?

The scope and frequency of internal and external assessments as well as the qualifications and independence of the assessor.

The scope and cost of the QAIP. frequency of internal and external assessments, and conclusions of the assessor.

The scope, findings, risks, recommendations, and agreed-upon improvement actions.

The number and types of people involved in the assessment, costs, and duration of the QAIP

NO.147 Which of the following factors is most responsible for the increasing risk that unauthorized parties may obtain or tamper with personal data?

The lack of legal and industry frameworks on privacy.

The absence of generally accepted privacy principles.

The rapid growth and evolution of technology.

The legislated need to retain sensitive personal information.

NO.148 Which of the following behaviors could represent a significant ethical risk if exhibited by an organization’s board?
1. Intervening during an audit involving ethical wrongdoing.
2. Discussing periodic reports of ethical breaches.
3. Authorizing an investigation of an unsafe product.
4. Negotiating a settlement of an employee claim for personal damages.

1 and 2

1 and 4

2 and 3

3 and 4

NO.149 When developing an effective risk-based plan to determine audit priorities, an internal audit activity should start by:

Identifying risks to the organization’s operations.

Observing and analyzing controls.

Prioritizing known risks.

Reviewing organizational objectives.

NO.150 An internal auditor completed an audit of a bank’s loan department and found all significant risks to be managed adequately through effective internal controls. Which of the following would be an appropriate conclusion to report to management?

The residual risk is lower than or equal to the risk appetite.

The residual risk is higher than or equal to the risk appetite.

The inherent risk is lower than or equal to the risk tolerance.

The inherent risk is higher than or equal to the risk tolerance.

NO.151 Which of the following best demonstrates the authority of the internal audit activity?

Suggesting alternatives to decision makers.

Improving the integrity of information.

Determining the scope of internal audit services.

Achieving engagement objectives.

NO.152 Which of the following best describes the concept of relevant cost?

A future cost that is the same among alternatives.

A future cost that differs among alternatives.

A past cost that is the same among alternatives.

A past cost that differs among alternatives.

NO.153 According to IIA guidance, which of the following statements is true regarding periodic internal assessments of the internal audit activity?

Internal assessments are conducted to benchmark the internal audit activity’s performance against industry best practices.

Internal assessments must be performed at least once every five years by a qualified assessor.

An internal auditor may perform a peer review of a colleague’s workpapers, as long as the auditor wasn’t involved in the audit under review.

Follow-up to ensure appropriate improvements are implemented is a recommended, but not mandatory, element of internal assessments.

NO.154 Which of the following control activities is the most effective to ensure users’ levels of access are appropriate for their current roles?

The human resources department generates a monthly list of terminated and transferred employees and requests IT to update the user access as required.

Standardized user access profiles are developed and the appropriate access profiles are automatically assigned to new or transferred employees.

System administrator rights are assigned to one user in each department who can update user access of terminated or transferred employees immediately.

Department managers are required to perform periodic user access reviews of relevant systems and applications.

NO.155 Which of the following are typical audit considerations for a review of authentication?
1. Authentication policies and evaluation of controls transactions.
2. Management of passwords, independent reconciliation, and audit trail.
3. Control self-assessment tools used by management.
4. Independent verification of data integrity and accuracy.

1, 2, and 3

1, 2, and 4

1, 3, and 4

2, 3, and 4

Loading …

Dumps Moneyack Guarantee – IIA-ACCA Dumps Approved Dumps: https://www.testkingit.com/IIA/latest-IIA-ACCA-exam-dumps.html

IIA-ACCA, IIAIIA-ACCA latest exam passing score, IIA-ACCA latest study guide files, IIA-ACCA pdf pass leader, IIA-ACCA practice exam online, new IIA-ACCA test discount voucher

Ultimate Guide to the IIA-ACCA – Latest Feb 10, 2023 Edition Available Now [Q139-Q155]

IIA IIA-ACCA Exam Syllabus Topics:

Leave a Reply Cancel reply