Free IIA IIA-ACCA Exam Questions

Become IIA Certified with updated IIA-ACCA exam questions and correct answers

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Total 610 Questions | Updated On: Jul 29, 2025

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Question 1

Which of the following responsibilities would fall under the role of the chief audit executive, rather than internal audit staff or the audit manager?

A : nage and support a quality assurance and improvement program.

B : intain industry-specific knowledge appropriate to the audit engagements

C : t clear performance standards for internal auditors and the internal audit activity.

D : ply problem-solving techniques for routine situations.

Answer: C

Question 2

According to IIA guidance, which of the following is true regarding audit supervision?

1. Supervision should be performed throughout the planning, examination, evaluation, communication, and follow-up stages of the audit engagement.

2. Supervision should extend to training, time reporting, and expense control, as well as administrative matters.

3. Supervision should include review of engagement workpapers, with documented evidence of the review.

A : 1 and 2 only

B : 1 and 3 only

C : 2 and 3 only

D : 1, 2, and 3

Answer: D

Question 3

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 : 1 and 2.

B : 1 and 3.

C : 2 and 3.

D : 2 and 4.

Answer: D

Question 4

According to Porter, which of the following is associated with fragmented industries?

A : ak entrance barriers.

B : gnificant scale economies.

C : eep experience curve.

D : rong negotiation power with suppliers.

Answer: A

Question 5

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

A : gain access to a wider variety of skills, competencies and best practices.

B : complement existing expertise with a required skill and competency for a particular audit engagement.

C : focus on and strengthen core audit competencies.

D : provide the organization with appropriate contingency planning for the internal audit function.

Answer: D

Page: 1 / 122

Total 610 Questions | Updated On: Jul 29, 2025

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