New 2022 Realistic IIA-ACCA Dumps Test Engine Exam Questions in here
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IIA IIA-ACCA Exam Syllabus Topics:
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NEW QUESTION 177
Which of the following is the most appropriate test to assess the privacy risks associated with an organization's workstations?
- A. Physical control test.
- B. Penetration test.
- C. Vulnerability test.
- D. Social engineering test.
Answer: A
NEW QUESTION 178
Which of the following engagement observations would provide the least motivation for management to amend or replace an existing cost accounting system?
- A. The cost of rework, hidden by the current system, is 50 percent of the total cost of all services.
- B. The distorted unit cost of a service is 50 percent lower than the true cost, while the true cost is 50 percent higher than the competition's cost.
- C. The organization is losing $1,000,000 annually because it incorrectly outsourced an operation based on information from its current system.
- D. 50 percent of total organizational cost has been allocated on a volume basis.
Answer: D
NEW QUESTION 179
Which of the following statements about internal audit's follow-up process is true?
- A. The nature, timing, and extent of follow-up for assurance engagements is standardized to ensure quality performance.
- B. The actions of external auditors and other external assurance providers is not encompassed by internal audit's follow-up process.
- C. Internal auditors have responsibility for determining if management and the board have implemented the recommended action or otherwise accepted the risk.
- D. The follow-up process must be complete and documented in the working papers in order to conclude the engagement.
Answer: C
NEW QUESTION 180
Which of the following statements is true regarding a bring-your-own-device (BYOD) environment?
- A. There is greater sharing of operational risk in a BYOD environment.
- B. Incident response times are less critical in the BYOD environment. compared to a traditional environment
- C. With fewer devices owned by the organization, there is reduced need to maintain documented policies and procedures.
- D. There is a greater need Kr organizations to rely on users to comply with policies and procedures.
Answer: D
NEW QUESTION 181
Which of the following are typical responsibilities for operational management within a risk management program?
1. Implementing corrective actions to address process deficiencies.
2. Identifying shifts in the organization's risk management environment.
3. Providing guidance and training on risk management processes.
4. Assessing the impact of mitigation strategies and activities.
- A. 2 and 3 only
- B. 1 and 2 only
- C. 1 and 4 only
- D. 3 and 4 only
Answer: C
NEW QUESTION 182
Which of the following situations is most likely to impair internal audit objectivity?
- A. According to policy, the internal auditor must obtain approval from the CFO prior to requesting information for internal audit purposes.
- B. An internal auditor reports both functionally and administratively to the chief financial officer (CFO).
- C. An internal auditor, who was an accounts receivable intern for the organization three years prior, performs an audit of the accounts receivable cycle.
- D. An internal auditor performs an audit in a department that is led by the auditor's close friend.
Answer: D
NEW QUESTION 183
Which of the following statements is true regarding the capital budgeting procedure known as discounted payback period?
- A. It calculates the overall value of a project
- B. It calculates the time a project takes to break even.
- C. It begins at time zero for the project.
- D. It ignores the time value of money
Answer: B
NEW QUESTION 184
An internal auditor has been asked to conduct an investigation involving allegations of independent contractor fraud. Which of the following controls would be least effective in detecting any potential fraudulent activity?
- A. Exception report identifying payment anomalies.
- B. Documented policy and procedures.
- C. Periodic account reconciliation of contractor charges.
- D. Monthly management review of all contractor activity.
Answer: B
NEW QUESTION 185
The management at a national consumer goods organization implements a fair work and pay practice as well as a policy to treat employees equitably and consistently. Which common characteristics of fraud will the practice and policy most likely reduce?
- A. Commitment.
- B. Pressure or incentive.
- C. Opportunity.
- D. Rationalization.
Answer: B
NEW QUESTION 186
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.
- A. 2 and 4.
- B. 1 and 3.
- C. 2 and 3.
- D. 1 and 2.
Answer: A
NEW QUESTION 187
Which of the following purchasing scenarios would gain the greatest benefit from implementing electronic data interchange?
- A. A currently inefficient purchasing process.
- B. A variable volume sensitive to material cost.
- C. A time-sensitive just-in-time purchase environment.
- D. A large volume of custom purchases.
Answer: C
NEW QUESTION 188
Which of the following is the best reason for considering the acquisition of a nondomestic organization?
- A. Improved cash flow of the acquiring organization.
- B. Opportunity to influence local government policy.
- C. Increased diversity of corporate culture.
- D. Relatively fast market entry.
Answer: D
NEW QUESTION 189
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?
- A. All completed training costs, and 50% of the contracted production costs.
- B. Training costs allocated to the number of aircraft delivered, and 50% of contracted production costs.
- C. All completed training costs, and the cost of actual production hours completed to date.
- D. Training costs allocated to the number of aircraft delivered, and the cost of actual production hours completed to date.
Answer: A
NEW QUESTION 190
Which of the following methods, if used in conjunction with electronic data interchange (EDI), will improve the organization's cash management program, reduce transaction data input time and errors, and allow the organization to negotiate discounts with EDI vendors based on prompt payment?
- A. Electronic funds transfer.
- B. Biometrics.
- C. Knowledge-based systems.
- D. Standardized graphical user interface.
Answer: A
NEW QUESTION 191
A chief audit executive (CAE) received a detailed internal report of senior management's internal control assessment. Which of the following subsequent actions by the CAE would provide the greatest assurance over management's assertions?
- A. Determine whether management's operating style and the philosophy described in the report reflect the effective functioning of internal controls.
- B. Evaluate the completeness of the report and management's responses to identified deficiencies.
- C. Assert whether the described and reported control processes and systems exist.
- D. Assess whether senior management adequately supports and promotes the internal control culture described in the report.
Answer: B
NEW QUESTION 192
Which of the following is a major advantage of decentralized organizations, compared to centralized organizations?
- A. Decentralized organizations streamline organizational structure.
- B. Decentralized organizations tend to be less expensive to operate.
- C. Decentralized organizations are more focused on organizational goals.
- D. Decentralized organizations tend to be more responsive to market changes.
Answer: D
NEW QUESTION 193
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