Free IIA-ACCA Exam Braindumps (page: 17)

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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?

  1. Internal control checklist.
  2. Procurement employee survey.
  3. Cross-functional flow chart.
  4. Segregation of duties matrix.

Answer(s): C



An internal auditor in a small broadcasting organization was assigned to review the revenue collection process. The auditor discovered that some checks from three customers were never recorded in the organization's financial records.
Which of the following documents would be the least useful for the auditor to verify the finding?

  1. Bank statements.
  2. Customer confirmation letters.
  3. Copies of sales invoices.
  4. Copies of deposit slips.

Answer(s): D



According to The MA Code of Ethics, which of the following is one of the rules of conduct for objectivity?

  1. Internal auditors shall continually improve their proficiency and effectiveness and quality of their services.
  2. Internal auditors shall respect and contribute to legitimate and ethical objectives of the organization.
  3. Internal auditors shall not accept anything that may impair or be presumed to impair their professional judgment.
  4. Internal auditors shall be prudent in the use and protection of information acquired in the course of their duties.

Answer(s): C



During an audit, the client questions the internal audit activity's authority to perform procedures over fraud allegations. According to HA guidance, which of the following would provide the most relevant support to respond to the client's concerns?

  1. Definition of Internal Auditing.
  2. MA Standards.
  3. Internal audit charter.
  4. The IIA's Code of Ethics.

Answer(s): C



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Jeelzs commented on June 25, 2024
Awesome indeed
Anonymous
upvote