Updated Nov-2021 Exam Engine or PDF for the IIA-ACCA Tests Free Updated Today!
Ultimate Guide to Prepare IIA-ACCA with Accurate PDF Questions
NEW QUESTION 323
A medical insurance provider uses an electronic claims-submission process and suspects that a number of physicians have submitted claims for treatments that were not performed. Which of the following control procedures would be most effective to detect this type of fraud?
- A. Send confirmations to the physicians, requesting them to verify the exact nature of the claims submitted to the insurance provider.
- B. Develop an integrated test facility and submit false claims to verify that the system is detecting such claims on a consistent basis.
- C. Use computer software to identify abnormal claims based on the insured's age and medical history.
- D. Require the physician to submit a signed statement attesting that the treatments had been performed.
Answer: C
NEW QUESTION 324
Which of the following activities should the chief audit executive perform to ensure compliance with an organization's code of conduct?
- A. Lead the committee responsible for the oversight of the code.
- B. Review and adjudicate all violations of the code of conduct.
- C. Act as an adviser to the committee responsible for reviewing violations of the code.
- D. Implement a system of procedures to inform all employees of the code.
Answer: C
NEW QUESTION 325
A newly promoted chief audit executive (CAE) is faced with a backlog of assurance engagement reports to review for approval. In an attempt to attach a priority for this review, the CAE scans the opinion statement on each report. According to IIA guidance, which of the following opinions would receive the lowest review priority?
1. Graded positive opinion.
2. Negative assurance opinion.
3. Limited assurance opinion.
4. Third-party opinion.
- A. 1 and 4
- B. 2 and 4
- C. 1 and 3
- D. 2 and 3
Answer: D
NEW QUESTION 326
During a fraud interview, it was discovered that unquestioned authority enabled a vice president to steal funds from the organization. Which of the following best describes this condition?
- A. Opportunity.
- B. Pressure.
- C. Scheme.
- D. Rationalization.
Answer: A
NEW QUESTION 327
Which of the following is an example of an application system control?
- A. Report distribution is restricted to authorized personnel.
- B. Field amounts contain an upper or lower limit.
- C. Error listings are generated and promptly remediated.
- D. Data values fall within a prescribed range.
Answer: D
NEW QUESTION 328
The percentage of sales method, rather than the percentage of receivables method, would be used to estimate uncollectible accounts if an organization seeks to:
- A. Use a method that approximates the matching principle.
- B. Eliminate the need for an allowance for doubtful accounts.
- C. Emphasize the accuracy of the net realizable value of the receivables on the balance sheet.
- D. Use an aging schedule to more closely estimate uncollectible accounts.
Answer: A
NEW QUESTION 329
While reviewing the contracts for a large city, the internal auditor learns that the organization contracted to perform trash collection is paid based on the number of bins emptied each week As a result, the city has minimal control over payments Which of the following actions should the auditor recommend to give the city greater control over payments?
- A. Require that the contractor provide supervisory review of the number of bins emptied each day
- B. Assign a city employee to verify the number of bins emptied each day
- C. Renegotiate a lump-sum contract when the contract is up for renewal
- D. Change the contract so payment is based on the distances traveled by the contractor during collection.
Answer: C
NEW QUESTION 330
Which of the following is the primary benefit of including end users in the system development process?
- A. Greater accuracy of the testing phase.
- B. Reduced need for unexpected software changes.
- C. Enhanced ongoing maintenance of the system.
- D. Improved integrity of programs and processing.
Answer: A
NEW QUESTION 331
Which of the following are appropriate functions for an IT steering committee?
1. Assess the technical adequacy of standards for systems design and programming.
2. Continually monitor of the adequacy and accuracy of software and hardware in use.
3. Assess the effects of new technology on the organization`s IT operations.
4. Provide broad oversight of implementation, training, and operation of new systems.
- A. 1, 2, and 4
- B. 1, 3, and 4
- C. 1, 2, and 3
- D. 2, 3, and 4
Answer: D
NEW QUESTION 332
Which of the following professional development approaches would offer internal auditors the most opportunities to broaden their engagement experiences?
- A. Assign more experienced internal auditors to mentor the less experienced auditors.
- B. Appraise internal auditors' performance and competencies at least annually and issue constructive feedback.
- C. Rotate internal auditors among different engagement assignments.
- D. Send internal auditors to external trainings in advanced internal audit topics.
Answer: C
NEW QUESTION 333
According to IIA guidance, which of the following statements is false regarding a review of the controls in place to prevent fraud?
- A. The scope of the review does not need to include all operating areas of the organization.
- B. The cost of the control should be compared to the benefit of mitigating the related risk.
- C. The review should focus on the efficiency of the controls in place to prevent fraud.
- D. The review should assess whether the internal controls can be circumvented.
Answer: C
NEW QUESTION 334
Who is responsible for setting the risk appetite?
- A. External auditors.
- B. Operations management.
- C. Board of directors.
- D. Chief risk officer.
Answer: C
NEW QUESTION 335
Which of the following is based on the concept that there is not one best leadership style and that successful leadership depends on a match between the leader, the situation, and the subordinate?
- A. Path goal model
- B. Life cycle model
- C. Contingency theory
- D. Attribute theory.
Answer: C
NEW QUESTION 336
Which of the following would best prevent unauthorized external changes to an organization's data?
- A. Antivirus software, data encryption, change logs.
- B. Antivirus software, firewall, data encryption.
- C. Firewall, data encryption, backup procedures.
- D. Antivirus software, firewall, backup procedures.
Answer: B
NEW QUESTION 337
Which of the following statements about slack time and milestones are true?
1. Slack time represents the amount of time a task may be delayed without delaying the entire project.
2. A milestone is a moment in time that marks the completion of the project's major deliverables.
3. Slack time allows the project manager to move resources from one task to another to ensure that the project is finished on time.
4. A milestone requires resource allocation and needs time to be completed.
- A. 1, 2, 3, and 4
- B. 2 and 3 only
- C. 1 and 4 only
- D. 1, 2, and 3 only
Answer: D
NEW QUESTION 338
The cost to enter a foreign market would be highest in which of the following methods of global expansion?
- A. Overseas production.
- B. Exporting.
- C. Licensing.
- D. Joint ventures.
Answer: A
NEW QUESTION 339
When developing an effective risk-based plan to determine audit priorities, an internal audit activity should start by:
- A. Prioritizing known risks.
- B. Observing and analyzing controls.
- C. Identifying risks to the organization's operations.
- D. Reviewing organizational objectives.
Answer: D
NEW QUESTION 340
According to IIA guidance, which of the following should be included in the internal audit charter?
- A. Organizational relationships and reporting lines.
- B. Identification of the organizational units where engagements are to be performed.
- C. The minimum resources and competencies needed for the internal audit activity.
- D. Assigned responsibilities for designing and implementing controls.
Answer: A
NEW QUESTION 341
According to IIA guidance, which of the following actions might place the independence of the internal audit function in jeopardy?
- A. Coordinating and managing the risk management process.
- B. Participating with management in identifying and evaluating risks.
- C. Having no active role or involvement in the risk management process.
- D. Auditing the risk management process for reasonableness.
Answer: A
NEW QUESTION 342
Which of the following is not a method for implementing a new application system?
- A. Pilot.
- B. Test.
- C. Parallel.
- D. Direct cutover.
Answer: B
NEW QUESTION 343
When management uses the absorption costing approach, fixed manufacturing overhead costs are classified as which of the following types of costs?
- A. Indirect period costs.
- B. Indirect product costs
- C. Direct period costs
- D. Direct product costs
Answer: D
NEW QUESTION 344
Which of the following best describes the misdirection of payments on accounts receivable to an employee's bank account?
- A. Fraud off the books.
- B. Fraud hidden on the books.
- C. Fraud on the balance sheet.
- D. Fraud open on the books.
Answer: A
NEW QUESTION 345
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. Training costs allocated to the number of aircraft delivered, and the cost of actual production hours completed to date.
- B. All completed training costs, and 50% of the 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 50% of contracted production costs.
Answer: B
NEW QUESTION 346
An organization decides to take no action on one of its financial risks because the cost of implementing the control outweighs the value of the asset being protected. Which of the following best describes this risk strategy?
- A. Risk sharing.
- B. Risk-benefit analysis.
- C. Risk avoidance.
- D. Risk acceptance.
Answer: D
NEW QUESTION 347
......
IIA IIA-ACCA Exam Syllabus Topics:
| Topic | Details |
|---|---|
| Topic 1 |
|
| Topic 2 |
|
| Topic 3 |
|
| Topic 4 |
|
| Topic 5 |
|
| Topic 6 |
|
| Topic 7 |
|
| Topic 8 |
|
| Topic 9 |
|
| Topic 10 |
|
| Topic 11 |
|
Pass IIA With UpdateDumps Exam Dumps: https://www.updatedumps.com/IIA/IIA-ACCA-updated-exam-dumps.html
Fully Updated IIA-ACCA Dumps - 100% Same Q&A In Your Real Exam: https://drive.google.com/open?id=1tJ9nw7XurnKW1oJCpvqjTn-ojIpyapMX