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Free IIA-ACCA Exam Braindumps
ACCA CIA Challenge Exam Questions 191–195 (page: 40)

Updated On: 9-Feb-2026
Page 40 of 122
PDF with 604 Questions

Which of the following is not a primary reason for outsourcing a portion of the internal audit activity?

  1. To gain access to a wider variety of skills, competencies and best practices.
  2. To complement existing expertise with a required skill and competency for a particular audit engagement.
  3. To focus on and strengthen core audit competencies.
  4. To provide the organization with appropriate contingency planning for the internal audit function.

Answer(s): D



Which of the following statements about internal audit's follow-up process is true?

  1. The nature, timing, and extent of follow-up for assurance engagements is standardized to ensure quality performance.
  2. The actions of external auditors and other external assurance providers is not encompassed by internal audit's follow-up process.
  3. Internal auditors have responsibility for determining if management and the board have implemented the recommended action or otherwise accepted the risk.
  4. The follow-up process must be complete and documented in the working papers in order to conclude the engagement.

Answer(s): C



A manufacturer is under contract to produce and deliver a number of aircraft to a major airline. As part of the contract, the manufacturer is also providing training to the airline's pilots. At the time of the audit, the delivery of the aircraft had fallen substantially behind schedule while the training had already been completed. If half of the aircraft under contract have been delivered, which of the following should the internal auditor expect to be accounted for in the general ledger?

  1. Training costs allocated to the number of aircraft delivered, and the cost of actual production hours completed to date.
  2. All completed training costs, and the cost of actual production hours completed to date.
  3. Training costs allocated to the number of aircraft delivered, and 50% of contracted production costs.
  4. All completed training costs, and 50% of the contracted production costs.

Answer(s): D



An internal auditor determines that certain information from the engagement results is not appropriate for disclosure to all report recipients because it is privileged. In this situation, which of the following actions would be most appropriate?

  1. Disclose the information in a separate report.
  2. Distribute the information in a confidential report to the board only
  3. Distribute the reports through the use of blind copies.
  4. Exclude the results from the report and verbally report the conditions to senior management and the board.

Answer(s): A



For which of the following fraud engagement activities would it be most appropriate to involve a forensic auditor?

  1. Independently evaluating conflicts of interests.
  2. Assessing contracts for relevant terms and conditions.
  3. Performing statistical analysis for data anomalies.
  4. Preparing evidentiary documentation.

Answer(s): D



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