ACCA CIA Challenge Exam Exam Questions PDF download

QUESTION: 61

An internal auditor wants to sample data to test an audit theory in a cost-effective way.
Which of the following sampling strategies should she use?

Statistical sampling only
Nonstatistical sampling only
A combination of both statistical and nonstatistical sampling.
Neither approach to testing the audit theory would be cost effective.

Answer(s): B

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An internal auditor is performing analytical reviews as part of an audit of a supermarket's merchandising department. Because the economy has declined since midyear, the auditor can expect to encounter which of the following?

Higher inventory turnover.
Higher operating margin.
Lower obsolete stock disposal.
Lower sales volume.

Answer(s): D

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QUESTION: 63

The chief audit executive (CAE) is planning to conduct an internal assessment of the internal audit activity (IAA). Part of this assessment will include benchmarking. According to IIA guidance, which of the following qualitative metrics would be appropriate for the CAE to use?
1. Average client customer satisfaction score for a given year.
2. Client survey comments on how to improve the IAA.
3. Auditor interviews once an audit has been completed.
4. Percentage of audits completed within 90 days.

1 and 2.
1 and 3.
2 and 3.
3 and 4.

Answer(s): C

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QUESTION: 64

Which of the following controls could an internal auditor reasonably conclude is effective by observing the physical controls of a large server room?

Adequate signs are in place to assist in locating safety equipment.
Servers are secured individually to their racks by locks.
Foam fire extinguishers are operable to protect against electrical fires.
Swipe card access is required to gain access to the server room.

Answer(s): A

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QUESTION: 65

The internal audit activity is planning a procurement audit and needs to obtain a thorough understanding of the subcontracting process, which can involve multiple individuals in multiple countries.
Which of the following internal audit tools would be most effective to document the process and the key controls?

Internal control checklist.
Procurement employee survey.
Cross-functional flow chart.
Segregation of duties matrix.

Answer(s): C

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IIA ACCA CIA Challenge Exam IIA-ACCA Exam Questions in PDF

Free IIA IIA-ACCA Dumps Questions (page: 13)

QUESTION: 61

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QUESTION: 63

QUESTION: 64

QUESTION: 65