Free IIA IIA-ACCA Exam Dumps Questions & Answers

Which of the following best illustrates the primary focus of a risk-based approach to control self-assessment?

• A.  To examine the processes involved in exploring, developing, and operating a gold mine.
• B.  To link a financial institution's business objectives to a work unit responsible for the associated risk.
• C.  To evaluate controls regarding the computer security of an oil refinery.
• D.  To assess the likelihood and impact of events associated with operating a finished goods warehouse.

Which of the following is a detective control for managing the risk of fraud?

• A.  Verification of currency exchange rates.
• B.  Receipts for employee expenses.
• C.  Awareness of prior incidents of fraud.
• D.  Contractor non-disclosure agreements.

According to MA guidance, which of the following best describes an adequate management (audit) trail application control for the general ledger?

• A.  Report confirming that the general ledger data was processed without error.
• B.  Report identifying data that is outside of system parameters
• C.  Report identifying general ledger transactions by time and individual
• D.  Report comparing processing results with original input

The chief audit executive of a medium-sized financial institution is evaluating the staffing model of the internal audit activity (IAA). According to IIA guidance, which of the following are the most appropriate strategies to maximize the value of the current IAA resources?
* The annual audit plan should include audits that are consistent with the skills of the IAA.
* Audits of high-risk areas of the organization should be conducted by internal audit staff.
* External resources may be hired to provide subject-matter expertise but should be supervised.
* Auditors should develop their skills by being assigned to complex audits for learning opportunities.

• A.  2 and 3 only
• B.  1 and 2 only
• C.  1 and 4 only
• D.  3 and 4 only

Which of the following situations would justify the removal of a finding from the final audit report?

• A.  Management disagrees with the report findings and conclusions in their responses.
• B.  Management has provided additional information that contradicts the findings.
• C.  Management has already satisfactorily completed the recommended corrective action.
• D.  Management believes that the finding is insignificant and unfairly included in the report.