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Helping Hand Questions for IIA-ACCA

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Total 604 questions

ACCA CIA Challenge Exam Questions and Answers

Question 53

As a matter of policy, the chief audit executive routinely rotates internal audit staff assignments and periodically interviews the staff to discuss the potential for conflicts of interest. These actions help fulfill which of the following internal audit mandates?

Options:

A.

Organizational independence.

B.

Professional objectivity.

C.

Due professional care.

D.

Individual proficiency.

Question 54

An organization has implemented a software system that requires a supervisor to approve transactions that would cause treasury dealers to exceed their authorized limit. This is an example of which of the following types of controls?

Options:

A.

Preventive controls.

B.

Detective controls.

C.

Soft controls.

D.

Directive controls.

Question 55

Which of the following actions should the audit committee take to promote organizational independence for the internal audit activity?

Options:

A.

Delegate final approval of the risk-based internal audit plan to the chief audit executive (CAE).

B.

Approve the annual budget and resource plan for the internal audit activity.

C.

Assist the CAE with hiring objective and competent internal audit staff.

D.

Encourage the CAE to communicate and coordinate with the external auditor.

Question 56

Which of the following would be the most important consideration by the internal audit activity when selecting employees to perform an internal quality assessment?

Options:

A.

Their understanding of auditing standards.

B.

Previous experience working with the internal audit activity.

C.

Their reporting line within the organization.

D.

The nature of their regular duties and responsibilities.

Page: 14 / 23
Total 604 questions