An internal auditor is assessing the organization's risk management framework. Which of the following formulas should he use to calculate the residual risk?A)B)C)D)
Answer(s): B
Which of the following statements is false regarding roles and responsibilities pertaining to risk management and control?
Which of the following should be included in a privacy audit engagement?1. Assess the appropriateness of the information gathered.2. Review the methods used to collect information.3. Consider whether the information collected is in compliance with applicable laws.4. Determine how the information is stored.
Answer(s): D
Due to price risk from the foreign currency purchase of aviation fuel, an airliner has purchased forward contracts to hedge against fluctuations in the exchange rate. When recalculating the exchange losses from individual purchases of jet fuel, which of the following details does the internal auditor need to validate?1. The hedge documentation designating the hedge.2. The spot exchange rate on the transaction date.3. The terms of the forward contract.4. The amount of fuel purchased.
Answer(s): C
Post your Comments and Discuss IIA IIA-ACCA exam with other Community members:
Flyn Commented on March 19, 2025 This exam is very very difficult. Thanks for these question dumps. Anonymous
Zormelo-Ghana Commented on March 19, 2025 QUESTION 5 ANSWER: "Human resources personnel add employees and enter employee bank information. Payroll personnel process hours, and paychecks are automatically deposited in the employee's bank account." Why? Separation of employee setup and payroll processing HR adds employees and enters their bank details, preventing payroll from creating ghost employees. Payroll personnel only process hours and do not control employee addition or banking details. Anonymous
Jeelzs Commented on January 11, 2025 Awesome indeed Anonymous
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