IIA ACCA CIA Challenge - IIA-ACCA FREE EXAM DUMPS QUESTIONS & ANSWERS]

Question 1

Which of the following would be a risk in the development of end-user computing (EUC) applications, compared to traditional information systems?

A. Management might place the same degree of reliance in reports produced by EUC applications as it does in reports produced under traditional systems development procedures . B. Since development time is typically longer for EUC applications, management may not be able to respond quickly to competitive pressures C. The organization may incur higher application development and maintenance costs for EUC systems. D. Management may not be able to make quick and accurate decisions due to a diminished capacity to respond to managerial requests for computerized information

Discussion 0

Correct Answer: A Vote an answer

Question 2

What is the purpose of a secondary control?

A. It replaces primary controls that are either ineffective or cannot fully mitigate a risk. B. It helps to ensure the completeness and accuracy of automated controls in a system environment. C. It partially reduces the residual risk level when a key control does not operate effectively. D. lt combines with other controls to help reduce significant risk exposures to an acceptable level.

Discussion 0

Correct Answer: D Vote an answer

Question 3

According to IIA guidance, organizations have the most influence on which element of fraud?

A. Incentives. B. Rationalization. C. Opportunity. D. Pressure.

Discussion 0

Correct Answer: C Vote an answer

Question 4

In mergers and acquisitions, which of the following is an example of a horizontal combination?

A. A movie producer acquires movie theaters. B. A baker taking over a competitor. C. A petroleum processing company acquires an agro-processing firm. D. Dairy manufacturing company taking over a large dairy farm.

Discussion 0

Correct Answer: B Vote an answer

Question 5

According to IIA guidance, which of the following are macro-level audit activities performed for an assurance engagement of the purchasing department?
1. Obtain and review all purchasing-related audit reports issued within the past year.
2. Meet with the quality assurance group to discuss its previous reports of any purchasing-related findings.
3. Review a memo written by the purchasing manager that outlines ongoing problems with the purchasing software.
4. Request a copy of the report from a purchasing audit conducted last year by an external service provider.

A. 1 and 3. B. 3 and 4. C. 2 and 4. D. 1 and 2.

Discussion 0

Correct Answer: D Vote an answer

Question 6

According to The IIA's Code of Ethics, which of the following is true?

A. Objectivity requires that auditors perform their work with honesty, diligence, and responsibility. B. Confidentiality requires that auditors disclose all material facts known to them. C. Confidentiality requires that auditors be prudent in the use and protection of client information. D. Integrity requires that auditors perform internal audit services in accordance with the Standards.

Discussion 0

Correct Answer: C Vote an answer

Question 7

An organization has implemented a software system that requires a supervisor to approve transactions that would cause treasury dealers to exceed their authorized limit. This is an example of which of the following types of controls?

A. Soft controls. B. Directive controls. C. Detective controls. D. Preventive controls.

Discussion 0

Correct Answer: D Vote an answer

Question 8

Which of the following statements is true regarding cost-volume-profit analysis?

A. Breakeven occurs when the contribution margin covers fixed costs B. Following breakeven, net operating income will increase by the excess of fixed costs less the variable costs per units sold C. Breakeven point is the amount of units sold to cover variable costs. D. Contribution margin is the amount remaining from sales revenue after fixed expenses have been deducted.

Discussion 0

Correct Answer: A Vote an answer

Question 9

According to IIA guidance, which of the following is the correct order to conduct a business impact analysis (BIA) for the potential loss of an organization's network services''
1. identify resources and partners to provide required recovery services
2. Identify the business processes supporting the network functionality
3. Obtain approval of the BIA from the operating managers relative to their areas of responsibility
4. Identify the business impact if the network services cannot be performed

A. 2, 4, 1, 3 B. 2, 1, 4, 3 C. 1, 2, 3, 4 D. 4, 2, 1, 3

Discussion 0

Correct Answer: B Vote an answer

Question 10

Which of the following conflict resolution methods should be applied when the intention of the parties is to solve the problem by clarifying differences and attaining everyone's objectives?

A. Competing. B. Accommodating. C. Collaborating. D. Compromising.

Discussion 0

Correct Answer: C Vote an answer

Question 11

During the last year, an organization had an opening inventory of $300,000, purchases of $980,000, sales of
$1,850,000, and a gross margin of 40 percent. What is the closing inventory if the periodic inventory system is used?

A. $280,000 B. $170,000 C. $300,000 D. $540,000

Discussion 0

Correct Answer: B Vote an answer

Question 12

Which of the following is a key component of an organization's cybersecunty governance?

A. Senior management of the organization setting the cybersecurity policy B. Management identifying and classifying the types of critical data in the organization's system C. Administrators monitoring the use, assignment and configuration of privileges on the network. D. The IT department establishing^ implementing, and actively managing security configurations.

Discussion 0

Correct Answer: A Vote an answer

Question 13

A new internal audit activity is creating its first charter. According to IIA guidance, which of the following objectives would be appropriate for inclusion in the charter?

A. Oversee the establishment and administration of an effective risk management program. B. Evaluate the adequacy and effectiveness of the organization's governance activities. C. Assist management in implementing recommended control improvements. D. Continuously monitor the organization's overall risk activities in relation to its risk appetite.

Discussion 0

Correct Answer: A Vote an answer