Free IIA-ACCA Exam Braindumps (page: 41)

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A fraud investigation was completed by management, and a proven fraud was communicated to relevant authorities. According to MA guidance, which of the following roles would be most appropriate for the internal audit activity to undertake after the investigation?

  1. Plan employee sessions and team building strategies for the organization to improve awareness of fraud among employees.
  2. Review the investigation and implement any improvements to the process.
  3. Conduct lessons learned sessions to ascertain how the fraud occurred and which controls failed.
  4. Determine why The fraud was not detected earlier and design controls to strengthen early detection.

Answer(s): C



A manufacturing line supervisor joins the internal audit activity for a two-year rotational job assignment and is assigned to an accounts receivable audit. With regard to this assignment, which of the following should be the primary concern of the audit manager?

  1. Due professional care.
  2. Individual independence.
  3. Individual objectivity.
  4. Organizational independence.

Answer(s): A



If appropriate safeguards exist, which of the following is considered a legitimate internal audit role within risk management at an organization?

  1. Imposing risk management processes.
  2. Providing consolidated reporting on risks.
  3. Taking accountability for risk management.
  4. Making decisions on risk responses.

Answer(s): B



According to the International Professional Practices Framework, which of the following are allowable activities for an internal auditor?
1. Advocating the establishment of a risk management function.
2. Identifying and evaluating significant risk exposures during audit engagements.
3. Developing a risk response for the organization if there is no chief risk officer.
4. Benchmarking risk management activities with other organizations.
5. Documenting risk mitigation strategies and techniques.

  1. 4 and 5 only.
  2. 1.2, and 3 only.
  3. 1.2. 4. and 5 only.
  4. 2. 3. 4. and 5 only.

Answer(s): C



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Jeelzs commented on June 25, 2024
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Anonymous
upvote