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Free IIA-ACCA Exam Braindumps (page: 63)

Page 63 of 152
PDF with 604 Questions

An internal auditor submitted a report containing recommendations for management to enhance internal controls related to investments. To follow up, which of the following is the most appropriate action for the internal auditor to take?

  1. Observe corrective measures.
  2. Seek a management assurance declaration.
  3. Follow up during the next scheduled audit.
  4. Conduct appropriate testing to verify management responses.

Answer(s): D



Which of the following would most likely cause an internal auditor to consider adding fraud work steps to the audit program?

  1. Improper segregation of duties.
  2. Incentives and bonus programs.
  3. An employee's reported concerns.
  4. Lack of an ethics policy.

Answer(s): C



Which of the following recommendations made by the internal audit activity (IAA) is most likely to help prevent fraud?

  1. A review of password policy compliance found that employees frequently use the same password more than once during a year. The IAA recommends that the access control software reject any password used more than once during a 12-month period.
  2. A review of internal service-level agreement compliance in financial services found that requests for information frequently are fulfilled up to two weeks late. The IAA recommends that the financial services unit be eliminated for its ineffectiveness.
  3. A vacation policy compliance review found that employees frequently leave on vacation before their leave applications are signed by their manager. The IAA recommends that the manager attend to the leave applications in a more timely fashion.
  4. A review of customer service-level agreements found that orders to several customers are frequently delivered late. The IAA recommends that the organization extend the expected delivery time advertised on its website.

Answer(s): A



An organization's board would like to establish a formal risk management function and has asked the chief audit executive (CAE) to be involved in the process. According to IIA guidance, which of the following roles should the CAE not undertake?

  1. Manage and coordinate risk management processes.
  2. Audit risk management processes.
  3. Become involved in risk oversight committees, monitoring activities, and status reporting.
  4. Accept management's responsibility for risk management without board approval.

Answer(s): D



Page 63 of 152



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Jeelzs commented on June 25, 2024
Awesome indeed
Anonymous
upvote