[Feb 22, 2023] Get New IIA-ACCA Certification – Valid Exam Dumps Questions
100% Passing Guarantee - Brilliant IIA-ACCA Exam Questions PDF
NEW QUESTION 222
Which of the following is most important for an internal auditor to check with regard to the database version?
- A. Verify whether the organization uses the most recent database software version
- B. Verify whether the database software version has been recently upgraded
- C. Verify whether access to database version information is appropriately restricted
- D. Verify whether the database software version is supported by the vendor.
Answer: D
NEW QUESTION 223
The first step in determining product price is:
- A. Selecting a pricing method.
- B. Determining the cost of the product.
- C. Developing pricing objectives.
- D. Evaluating prices set by the competitors.
Answer: C
NEW QUESTION 224
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. Maintain industry-specific knowledge appropriate to the audit engagements
- B. Set clear performance standards for internal auditors and the internal audit activity.
- C. Manage and support a quality assurance and improvement program.
- D. Apply problem-solving techniques for routine situations.
Answer: B
NEW QUESTION 225
Which of the following best describes an objective for an audit of an environmental management system?
- A. To promote environmental awareness.
- B. To evaluate executive management oversight.
- C. To determine conformance with requirements and agreements.
- D. To assess whether an annual control review is necessary.
Answer: C
NEW QUESTION 226
Reviewing prior audit reports and supporting workpapers before an engagement starts enables an internal auditor to do which of the following?
1. To understand better the activity and processes that will be audited.
2. To identify the audit procedures that will be used during the engagement.
3. To ensure that matters of greatest vulnerability will be addressed.
4. To use the information obtained as evidence in the current engagement.
- A. 2, 3, and 4 only
- B. 1 and 3 only
- C. 1 and 4 only
- D. 4 only
Answer: B
NEW QUESTION 227
Which mindset promotes the most comprehensive risk management strategy?
- A. Increase shareholder value.
- B. Mitigate losses.
- C. Maximize market share.
- D. Improve operational efficiency.
Answer: A
NEW QUESTION 228
Which of the following would not be a typical activity for the chief audit executive to perform following an audit engagement?
- A. Implement follow-up procedures to evaluate residual risk.
- B. Determine the costs of implementing the recommendations.
- C. Report follow-up activities to senior management.
- D. Evaluate the extent of improvements.
Answer: B
NEW QUESTION 229
A medical insurance provider uses an electronic claims-submission process and suspects that a number of physicians have submitted claims for treatments that were not performed. Which of the following control procedures would be most effective to detect this type of fraud?
- A. Send confirmations to the physicians, requesting them to verify the exact nature of the claims submitted to the insurance provider.
- B. Require the physician to submit a signed statement attesting that the treatments had been performed.
- C. Develop an integrated test facility and submit false claims to verify that the system is detecting such claims on a consistent basis.
- D. Use computer software to identify abnormal claims based on the insured's age and medical history.
Answer: D
NEW QUESTION 230
A chief audit executive (CAE) is selecting an internal audit team to perform an audit engagement that requires a high level of knowledge in the areas of finance, investment portfolio management, and taxation. If neither the CAE nor the existing internal audit staff possess the required knowledge, which of the following actions should the CAE take?
- A. Select the most experienced auditors in the department to perform the engagement.
- B. Hire consultants who possess the required knowledge to perform the engagement.
- C. Ask the audit committee to decide the course of action.
- D. Postpone the audit until the CAE hires internal audit staff with the required knowledge.
Answer: B
NEW QUESTION 231
Which of the following is not included in the process of user authentication?
- A. Verification.
- B. Authorization.
- C. Validation.
- D. Identification.
Answer: B
NEW QUESTION 232
The internal audit activity is planning a procurement audit and needs to obtain a thorough understanding of the subcontracting process, which can involve multiple individuals in multiple countries.
Which of the following internal audit tools would be most effective to document the process and the key controls?
- A. Segregation of duties matrix.
- B. Cross-functional flow chart.
- C. Procurement employee survey.
- D. Internal control checklist.
Answer: B
NEW QUESTION 233
Which of the following is the most common way that occupational fraud is detected?
- A. Whistleblower hotline.
- B. Key controls.
- C. Internal audits.
- D. External audits.
Answer: A
NEW QUESTION 234
A manufacturer is under contract to produce and deliver a number of aircraft to a major airline. As part of the contract, the manufacturer is also providing training to the airline's pilots. At the time of the audit, the delivery of the aircraft had fallen substantially behind schedule while the training had already been completed. If half of the aircraft under contract have been delivered, which of the following should the internal auditor expect to be accounted for in the general ledger?
- A. All completed training costs, and the cost of actual production hours completed to date.
- B. Training costs allocated to the number of aircraft delivered, and 50% of contracted production costs.
- C. Training costs allocated to the number of aircraft delivered, and the cost of actual production hours completed to date.
- D. All completed training costs, and 50% of the contracted production costs.
Answer: D
NEW QUESTION 235
Which of the following best demonstrates an organization's ability to recover from a disaster?
- A. Redundant data center
- B. Hot site
- C. Regular testing of the disaster plan
- D. Cold site
Answer: C
NEW QUESTION 236
Multinational organizations generally spend more time and effort to identify and evaluate:
- A. Internal strengths and weaknesses.
- B. Internal risk factors.
- C. Break-even points.
- D. External trends and events.
Answer: D
NEW QUESTION 237
An employee frequently uses a personal smart device to send and receive work-related emails. Which of the following controls would be most effective to mitigate security risks related to these transmissions?
- A. Authentication.
- B. Software encryption
- C. Hardware encryption.
- D. Data encryption.
Answer: D
NEW QUESTION 238
Which of the following costs would be incurred in an inventory stockout?
- A. Lost sales, safety stock, and backorder.
- B. Lost sales, lost customers, and backorder.
- C. Lost customers, safety stock, and backorder.
- D. Lost sales, lost customers, and safety stock.
Answer: B
NEW QUESTION 239
A retail organization is considering acquiring a composite textile company. The retailer's due diligence team determined the value of the textile company to be $50 million. The financial experts forecasted net present value of future cash flows to be $60 million. Experts at the textile company determined their company's market value to be $55 million if purchased by another entity. However, the textile company could earn more than $70 million from the retail organization due to synergies. Therefore, the textile company is motivated to make the negotiation successful. Which of the following approaches is most likely to result in a successful negotiation?
- A. Develop a bargaining zone that lies between $50 million and $70 million and create sets of outcomes between $50 million and $70 million.
- B. Involve a mediator as a neutral party who can work with the textile company's management to determine a bargaining zone.
- C. Develop a bargaining zone that lies between $55 million and $60 million and create sets of outcomes between $55 million and $60 million.
- D. Adopt an added-value negotiating strategy, develop a bargaining zone between $50 million and $70 million, and create sets of outcomes between $50 million and $70 million.
Answer: C
NEW QUESTION 240
An internal auditor performed a review of IT outsourcing and found that the service provider was failing to meet the terms of the service level agreement. Which of the following approaches is most appropriate to address this concern?
- A. The organization should proactively monitor the performance of the service provider, escalate concerns, and use penalty clauses in the contract where necessary.
- B. The organization should review the skill requirements and ensure that the service provider is maintaining sufficient expertise and retaining skilled resources.
- C. The organization should work with the service provider to review the current agreement and expectations relating to objectives, processes, and overall performance.
- D. The organization should ensure that there is a clear management communication strategy and path for evaluating and reporting on all outsourced services concerns.
Answer: A
NEW QUESTION 241
Which of the following best describes the misdirection of payments on accounts receivable to an employee's bank account?
- A. Fraud on the balance sheet.
- B. Fraud hidden on the books.
- C. Fraud off the books.
- D. Fraud open on the books.
Answer: C
NEW QUESTION 242
Which of the following IT controls includes protection for mainframe computers and workstations?
- A. System software controls
- B. Organization and management controls
- C. Change management controls
- D. Physical and environmental controls.
Answer: A
NEW QUESTION 243
Which of the following is least likely to help ensure that risk is considered in a work program?
- A. All available information from the risk-based plan is used.
- B. Risks are discussed with audit client.
- C. Client efforts to affect risk management are considered.
- D. Prior risk assessments are considered.
Answer: D
NEW QUESTION 244
......
IIA IIA-ACCA Exam Syllabus Topics:
| Topic | Details |
|---|---|
| Topic 1 |
|
| Topic 2 |
|
| Topic 3 |
|
| Topic 4 |
|
| Topic 5 |
|
| Topic 6 |
|
| Topic 7 |
|
| Topic 8 |
|
Free IIA-ACCA braindumps download: https://interfacett.braindumpquiz.com/IIA-ACCA-exam-material.html