Latest [Nov 22, 2021] IIA-ACCA Exam Dumps - Valid and Updated Dumps
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IIA IIA-ACCA Exam Syllabus Topics:
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NEW QUESTION 279
Which of the following is always true regarding the use of encryption algorithms based on public key infrastructure (PKI)?
- A. PKI uses an independent administrator to manage the public key.
- B. PKI's public accessibility allows it to be used readily for e-commerce.
- C. The private key uniquely authenticates each party to a transaction.
- D. The public key is authenticated against reliable third-party identification.
Answer: C
NEW QUESTION 280
According to IIA guidance, which of the following is the correct order to conduct a business impact analysis (BIA) for the potential loss of an organization's network services''
1. identify resources and partners to provide required recovery services
2. Identify the business processes supporting the network functionality
3. Obtain approval of the BIA from the operating managers relative to their areas of responsibility
4. Identify the business impact if the network services cannot be performed
- A. 2, 4, 1, 3
- B. 2, 1, 4, 3
- C. 4, 2, 1, 3
- D. 1, 2, 3, 4
Answer: B
NEW QUESTION 281
Which segregation of duties would best reduce the risk of payroll fraud?
- A. Human resources personnel add employees, and payroll personnel process hours and enter employee bank account numbers. Paychecks are automatically deposited in the employee's bank account.
- B. Human resources personnel add employees, payroll personnel process hours, and human resources personnel deliver paychecks to employees.
- C. Human resources personnel add employees, review and submit payroll hours to the payroll department for processing, and deliver paychecks to employees.
- D. Human resources personnel add employees and enter employee bank information. Payroll personnel process hours, and paychecks are automatically deposited in the employee's bank account.
Answer: A
NEW QUESTION 282
Which of the following is the best example of a compliance risk that is likely to arise when adopting a bring-your-own-device (BYOD) policy?
- A. The risk that users try to bypass controls and do not install required software updates.
- B. The risk that proprietary information is not deleted from the device when an employee leaves.
- C. The risk that an organization intrusively monitors personal information stored on smart devices.
- D. The risk that smart devices can be lost or stolen due to their mobile nature.
Answer: C
NEW QUESTION 283
A chief audit executive (CAE) is determining which engagements to include on the annual audit plan. She would like to consider the organization's attitude toward risk and the degree of difficulty in achieving objectives. Which of the following resources should the CAE consult?
- A. The corporate risk register.
- B. Internal and external audit reports.
- C. The board's meeting records.
- D. The strategic plan.
Answer: D
NEW QUESTION 284
Which of the following statements is correct regarding risk analysis?
- A. Risk analysis must be reduced to quantitative terms in order to provide meaningful comparisons across an organization.
- B. The highest risk assessment should always be assigned to the area with the largest potential loss.
- C. The highest risk assessment should always be assigned to the area with the highest probability of occurrence.
- D. The extent to which management judgments are required in an area could serve as a risk factor in assisting the auditor in making a comparative risk analysis.
Answer: D
NEW QUESTION 285
Which of the following is a key component of an organization's cybersecunty governance?
- A. Senior management of the organization setting the cybersecurity policy
- B. Administrators monitoring the use, assignment and configuration of privileges on the network.
- C. Management identifying and classifying the types of critical data in the organization's system
- D. The IT department establishing^ implementing, and actively managing security configurations.
Answer: A
NEW QUESTION 286
Which of the following is a justifiable reason for omitting advance client notice when planning an audit engagement?
- A. Advance notice may result in management making corrections to reduce the number of potential deficiencies.
- B. The audit engagement has already been communicated and approved through the annual audit plan.
- C. Previous management action plans addressing prior internal audit recommendations remain incomplete.
- D. The engagement includes audit assurance procedures such as sensitive or restricted asset verifications.
Answer: D
NEW QUESTION 287
Which of the following best describes an objective for an audit of an environmental management system?
- A. To evaluate executive management oversight.
- B. To promote environmental awareness.
- C. To determine conformance with requirements and agreements.
- D. To assess whether an annual control review is necessary.
Answer: C
NEW QUESTION 288
Which of the following statements accurately describes the responsibility of the internal audit activity regarding IT governance?
1. The internal audit activity does not have any responsibility because IT governance is the responsibility of the board and senior management of the organization.
2. The internal audit activity must assess whether the IT governance of the organization supports the organization's strategies and objectives.
3. The internal audit activity may assess whether the IT governance of the organization supports the organization's strategies and objectives.
4. The internal audit activity may accept requests from management to perform advisory services regarding how the IT governance of the organization supports the organization's strategies and objectives.
- A. 2 and 4.
- B. 1 only.
- C. 3 and 4.
- D. 4 only.
Answer: B
NEW QUESTION 289
Which of the following components should be included in an audit finding?
1. The scope of the audit.
2. The standard(s) used by the auditor to make the evaluation.
3. The engagement's objectives.
4. The factual evidence that the internal auditor found in the course of the examination.
- A. 2 and 4
- B. 1 and 2
- C. 1 and 3 only
- D. 1, 3, and 4
Answer: A
NEW QUESTION 290
When forming an opinion on the adequacy of management's systems of internal control, which of the following findings would provide the most reliable assurance to the chief audit executive?
* During an audit of the hiring process in a law firm, it was discovered that potential employees' credentials were not always confirmed sufficiently. This process remained unchanged at the following audit.
* During an audit of the accounts payable department, auditors calculated that two percent of accounts were paid past due. This condition persisted at a follow up audit.
* During an audit of the vehicle fleet of a rental agency, it was determined that at any given time, eight percent of the vehicles were not operational. During the next audit, this figure had increased.
* During an audit of the cash handling process in a casino, internal audit discovered control deficiencies in the transfer process between the slot machines and the cash counting area. It was corrected immediately.
- A. 1 and 3 only
- B. 2 and 4 only
- C. 2 and 3 only
- D. 1 and 4 only
Answer: D
NEW QUESTION 291
The security department uncovered what appears to be a complex fraud in the accounting department. The CEO has requested the internal audit activity to investigate the fraud. If the internal audit staff lacks the expertise to conduct the investigation, how should the chief audit executive proceed?
- A. Select a member of the accounting department who is not involved in the fraud to join the investigation team in a consulting capacity.
- B. Outsource the sensitive investigation to a third-party consultant with fraud expertise.
- C. Proceed with the investigation, as internal auditors are not required to have fraud expertise.
- D. Disclose the deficiency, and request that the investigation be reassigned to the first line of defense.
Answer: B
NEW QUESTION 292
While conducting an audit of a third party's Web-based payment processor, an internal auditor discovers that a programming error allows customers to create multiple accounts for a single mailing address. Management agrees to correct the program and notify customers with multiple accounts that the accounts will be consolidated. Which of the following actions should the auditor take?
1. Schedule a follow-up review to verify that the program was corrected and the accounts were consolidated.
2. Evaluate the adequacy and effectiveness of the corrective action proposed by management.
3. Amend the scope of the subsequent audit to verify that the program was corrected and that accounts were consolidated.
4. Submit management's plan of action to the external auditors for additional review.
- A. 1 and 4
- B. 1 and 2
- C. 2 and 3
- D. 3 and 4
Answer: B
NEW QUESTION 293
The chief audit executive (CAE) of a small internal audit activity (IAA) plans to test conformance with the Standards through a quality assurance review. According to the Standards, which of the following are acceptable practice for this review?
1. Use an external service provider.
2. Conduct a self-assessment with independent validation.
3. Arrange for a review by qualified employees outside of the IAA.
4. Arrange for reciprocal peer review with another CAE.
- A. 2, 3, and 4
- B. 1, 2, and 3
- C. 1 and 2
- D. 2 and 4
Answer: C
NEW QUESTION 294
Which of the following statements is true regarding cost-volume-profit analysis?
- A. Following breakeven, net operating income will increase by the excess of fixed costs less the variable costs per units sold
- B. Contribution margin is the amount remaining from sales revenue after fixed expenses have been deducted.
- C. Breakeven occurs when the contribution margin covers fixed costs
- D. Breakeven point is the amount of units sold to cover variable costs.
Answer: C
NEW QUESTION 295
Which of the following is most likely to function as a directive control?
- A. Alert employees.
- B. Insurance claims.
- C. Cycle counts.
- D. Security dogs.
Answer: A
NEW QUESTION 296
Which of the following actions is most likely to gain support for process change?
- A. Demonstrate support from senior management.
- B. Engage the various communities of practice within the organization.
- C. Set clear objectives.
- D. Establish key competencies.
Answer: B
NEW QUESTION 297
An internal auditor submitted a report containing recommendations for management to enhance internal controls related to investments. To follow up, which of the following is the most appropriate action for the internal auditor to take?
- A. Follow up during the next scheduled audit.
- B. Conduct appropriate testing to verify management responses.
- C. Observe corrective measures.
- D. Seek a management assurance declaration.
Answer: B
NEW QUESTION 298
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