IIA-ACCA Exam Questions and Answers

QUESTION: 16

According to IIA guidance, which of the following is not a responsibility of the chief audit executive pertaining to documenting information to support internal audit engagement results and conclusions?

Rating each engagement record to assess its relevance and accessibility for the organization's board.
Controlling access to engagement records, including access by senior management.
Developing retention requirements for engagement records that are consistent with organizational guidelines.
Forming policies governing the custody and retention of consulting engagement records before their release to other parties.

Answer(s): A

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QUESTION: 17

An internal auditor is using a spreadsheet application to review a cash flow forecast prepared by management.
Which of the following correctly identifies the type of evidence this information represents?

Competent, corroborative evidence of future working capital requirements.
Sufficient, analytical evidence of the cash flow position at a given point of time in the future.
Competent, documentary evidence of future cash flow changes within the organization.
Sufficient, circumstantial evidence of the future solvency of the organization.

Answer(s): C

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QUESTION: 18

Which of the following is an activity that an internal auditor must not perform?

Establish and provide continuing assurance on an anti-money laundering program for new hires.
Survey employees for their understanding of anti-money laundering practices.
Provide assurance for the effectiveness of anti-money laundering training.
Assess the risk of being fined for ineffective anti-money laundering practices.

Answer(s): A

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QUESTION: 19

Which of the following statements is true regarding assurance services provided to clients outside of the organization?

Assurance services for outside clients are not covered under the internal audit charter.
Assurance services for outside clients must be approved on a case-by-case basis by the board of directors.
The nature of assurance services for outside clients should be defined in the internal audit charter.
The nature of assurance services for outside clients is the same as for internal clients.

Answer(s): C

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QUESTION: 20

Sometimes, internal audit staff may partner with operating managers to rank risks.
Which of the following outcomes may be the most beneficial aspects of this strategy?
1. Reappraising risks levels.
2. Providing accurate information to management.
3. Marketing the internal audit activity.
4. Planning safeguards for assets in high-risk areas.

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

Answer(s): B

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IIA IIA-ACCA Exam (page: 4) IIA ACCA CIA Challenge Exam Updated on: 15-Feb-2026

QUESTION: 16

QUESTION: 17

QUESTION: 18

QUESTION: 19

QUESTION: 20

IIA IIA-ACCA Exam (page: 4)
IIA ACCA CIA Challenge Exam
Updated on: 15-Feb-2026