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IIA IIA-ACCA Exam
ACCA CIA Challenge Exam (Page 21 )

Updated On: 12-Feb-2026
Page 21 of 122
PDF with 604 Questions

An internal auditor is conducting an assessment of the organization's fraud prevention program using the COSO enterprise risk management framework. According to this framework, which of the following activities would fall under the control environment component for preventing fraud?
1. The organization uses an automated authority approval matrix to control payments.
2. The organization has a whistleblower hotline that is available to employees.
3. Annually, every manager completes a comprehensive fraud assessment of his or her department.
4. Annually, the organization reviews and communicates the code of expected behavior.

  1. 1 and 2.
  2. 1 and 3.
  3. 2 and 3.
  4. 2 and 4.

Answer(s): D



Which of the following is an example of a management control technique?

  1. A budget.
  2. A risk assessment.
  3. The board of directors.
  4. The control environment.

Answer(s): A



What is the primary benefit to the internal audit activity for undertaking an internal quality assessment?

  1. To help the internal audit activity complete its annual assurance plan.
  2. To identify inefficiencies within the internal audit team.
  3. To help improve the overall quality of the internal audit activity's work.
  4. To identify key risks and areas of concern within the organization.

Answer(s): C



Which of the following is the most common way that occupational fraud is detected?

  1. Internal audits.
  2. Whistleblower hotline.
  3. Key controls.
  4. External audits.

Answer(s): B



Which of the following activities is most likely to require a fraud specialist to supplement the knowledge and skills of the internal audit activity?

  1. Planning an engagement of the area in which fraud is suspected.
  2. Employing audit tests to detect fraud.
  3. Interrogating a suspected fraudster.
  4. Completing a process review to improve controls to prevent fraud.

Answer(s): B






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