-ACCA Certification Exam Questions with AI Explanations

QUESTION: 116

Which of the following statements accurately describes an internal auditor's responsibility with regard to due professional care?

An internal auditor should express an opinion only when consensus with top management has been achieved.
An internal auditor's opinion should be based on experience and free of all bias.
An internal auditor's opinion should be based on factual evidence.
An internal auditor's opinion should be limited to the effectiveness of internal controls.

Answer(s): C

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QUESTION: 117

Which of the following is the primary engagement responsibility of an entry-level internal auditor?

Leadership.
Documentation.
Analysis.
Reporting.

Answer(s): C

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QUESTION: 118

Which of the following is a detective control strategy against fraud?

Requiring employees to attend ethics training.
Performing background checks on employees.
Implementing a control self-assessment.
Performing a surprise audit.

Answer(s): D

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A chief audit executive (CAE) is reviewing the internal audit activity's performance and is concerned that the average number of revisions to findings is steadily rising, making it increasingly difficult to trace the finding to the supporting evidence and workpapers. According to MA guidance, which of the following elements of the internal audit activity's quality assurance and improvement program would provide the CAE with the most helpful insight into the cause of this problem?

The overall effectiveness of the internal audit activity's periodic self assessments.
The type of audit productivity and performance statistics reported.
The adequacy of the day-to-day supervision and review process.
The scope and frequency of external assessments.

Answer(s): C

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QUESTION: 120

A headquarters-based internal auditor has been sent to a major overseas subsidiary to conduct various engagements. Initially, the internal auditor spends time to become familiar with local customs and organization's practices while embarking on the first engagement.
Which of the following competencies does the internal auditor exercise?

Communication.
Persuasion and collaboration.
Business acumen.
Governance, risk, and control.

Answer(s): A

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Free IIA IIA-ACCA Real Questions (page: 54)

QUESTION: 116

QUESTION: 117

QUESTION: 118

QUESTION: 119

QUESTION: 120