-ACCA Certification Exam Questions with AI Explanations

QUESTION: 76

Which of the following would be the most appropriate first step for the board to take when developing an effective system of governance?

Determine the organization's overall risk appetite.
Establish a governance committee.
Delegate authority to members of senior management.
Identify key stakeholders and their expectations.

Answer(s): D

Reveal Solution Next Question

QUESTION: 77

Which of the following scenarios best illustrates the principle of due professional care?

An internal auditor evaluates the significant risks arising from a consulting engagement.
An internal auditor declares that he would have a conflict of interest in providing planned audit support.
An internal auditor has been given sufficient authority to access documents needed to make an appraisal of an issue.
An internal auditor uses technology-based audit techniques to ensure that all significant risks are identified.

Answer(s): A

Reveal Solution Next Question

QUESTION: 78

Which of the following statements is true with regard to conducting an effective quality assurance and improvement program?

The IIA's Quality Assessment Manual for the Internal Audit Activity must be used as the basis for periodic assessments.
Members of the internal audit activity are not permitted to perform quality assessments, as they would not be independent.
Periodic internal assessments provide the most current and independent recommendations for improvement.
The conclusions of periodic internal assessments are intended to assist in achieving conformity to the Standards.

Answer(s): D

Reveal Solution Next Question

QUESTION: 79

Which of the following options is the most cost-effective and efficient way for internal auditors to keep current with the latest developments in the internal audit profession?

Attending annual professional conferences and seminars.
Participating in on-the-job training in various departments of the organization.
Pursuing as many professional certifications as possible.
Maintaining membership in The HA and similar professional organizations and subscribing to relevant email updates or news feeds.

Answer(s): D

Reveal Solution Next Question

Which of the following actions would be characterized as a preventive control to safeguard inventory from the risk of theft?
1. Locking doors and physically securing inventory items.
2. Independently observing the receipt of materials.
3. Conducting monthly inventory counts.
4. Requiring the use of employee ID badges at all times.

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

Answer(s): B

Reveal Solution Next Question

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

Free IIA IIA-ACCA Dumps Questions (page: 16)

QUESTION: 76

QUESTION: 77

QUESTION: 78

QUESTION: 79

QUESTION: 80