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Free IIA-ACCA Exam Braindumps (page: 28)

Page 28 of 152
PDF with 604 Questions

According to IIA guidance, which of the following best describes internal auditors' responsibility regarding fraud?

  1. Internal auditors should take a leading role in investigating all fraud-related cases.
  2. Internal auditors must have sufficient knowledge to evaluate the risk of fraud.
  3. Internal auditors should report all fraud cases to law enforcement agents, in accordance with the Code of Ethics.
  4. Internal auditors are responsible for ensuring that fraud does not occur.

Answer(s): B



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?

  1. The residual risk is lower than or equal to the risk appetite.
  2. The residual risk is higher than or equal to the risk appetite.
  3. The inherent risk is lower than or equal to the risk tolerance.
  4. The inherent risk is higher than or equal to the risk tolerance.

Answer(s): A



Which of the following statements is true about The IIA Global Internal Audit Competency Framework?

  1. The core competencies outlined in the framework are not expected of a person undertaking an entry-level position as an internal auditor.
  2. The framework is designed to be used primarily by chief audit executives that are developing indicators to measure the performance of the internal audit activity for which they are responsible.
  3. The framework lists the core competencies internal auditors should possess before attempting to attain The IIA's Certified Internal Auditor certification.
  4. The framework describes competencies needed for individual internal auditors, but not those necessary at the chief audit executive level.

Answer(s): B



According to the COSO enterprise risk management framework, which of the following best describes the activity that helps ensure risk responses are carried out effectively?

  1. Objective setting.
  2. Control activities.
  3. Information and communication.
  4. Event identification.

Answer(s): B



Page 28 of 152



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Jeelzs commented on June 25, 2024
Awesome indeed
Anonymous
upvote