IIA IIA-ACCA Dumps PDF Free Download - Page: 9

QUESTION: 41

According to IIA guidance, which of the following statements about working papers is false?

They assist in the implementation of recommendations.
They provide support for communication to third parties.
They demonstrate compliance with auditing standards.
They contribute to development of the internal audit staff.

Answer(s): A

An assurance mapping exercise helps an organization do which of the following?
1. Provide assurance to stakeholders that risks are managed and reported, and regulatory and legal obligations are met.
2. Fulfill best practices in the industry.
3. Identify and address any gaps in the risk management process.
4. Identify fraud.

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

Answer(s): B

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QUESTION: 43

Which of the following are core responsibilities to be included in the internal audit charter?
1. Review reliability and integrity of financial and operating information and the means used to identify, measure, classify, and report such information.
2. Determine the adequacy and effectiveness of the organization's systems of internal accounting and operating controls.
3. Participate in the planning and performance of audits of potential acquisitions with the organization's outside accountants and other members of the corporate staff.
4. Report to those members of management who should be informed of results of audit examinations, the audit opinions formed, and the recommendations made.

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

Answer(s): A

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QUESTION: 44

An internal audit charter should do which of the following?

Outline the schedule of future audits.
Define the scope of internal audit activities.
Establish the size of the internal audit activity.
Communicate the internal audit activity's goals.

Answer(s): B

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QUESTION: 45

A former line supervisor from the Financial Services Department has completed six months of a two- year development opportunity with the internal audit activity (IAA). She is assigned to a team that will audit the organization's payroll function, which is managed by the Human Resources Department.
Which of the following statements is most relevant regarding her independence and objectivity with respect to the payroll audit?

She may participate, but only after she has completed one year with the IA
She may participate, because she did not previously work in the Human Resources Department.
She may participate, but she must be supervised by the auditor in charge.
She may participate for training purposes, to build her knowledge of the IAA.

Answer(s): B

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IIA ACCA CIA Challenge Exam IIA-ACCA Dumps in PDF

Free IIA IIA-ACCA Real Questions (page: 9)

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QUESTION: 45