IIA IIA-ACCA ACCA CIA Challenge Exam Online Training
IIA IIA-ACCA Online Training
The questions for IIA-ACCA were last updated at May 11,2025.
- Exam Code: IIA-ACCA
- Exam Name: ACCA CIA Challenge Exam
- Certification Provider: IIA
- Latest update: May 11,2025
According to IIA guidance, which of the following statements is true when an internal auditor performs consulting services that improve an organization’s operations?
- A . The services must be aligned with those defined in the internal audit charter.
- B . The services must not be performed by the same internal auditor who performed assurance services, in order to maintain objectivity.
- C . The services may preclude assurance services from the consulting engagement.
- D . The services impose no responsibility to communicate information other than to the engagement client.
According to IIA guidance, which of the following statements is true when an internal auditor performs consulting services that improve an organization’s operations?
- A . The services must be aligned with those defined in the internal audit charter.
- B . The services must not be performed by the same internal auditor who performed assurance services, in order to maintain objectivity.
- C . The services may preclude assurance services from the consulting engagement.
- D . The services impose no responsibility to communicate information other than to the engagement client.
The extent of other ongoing services that the engineer may be performing for the organization.
- A . 1 and 4 only
- B . 2 and 3 only
- C . 3 and 4 only
- D . 1, 2, and 4 only
According to the COSO enterprise risk management (ERM) framework, which of the following is not part of the new paradigm in ERM?
- A . Assessing the risk factors.
- B . Aligning risk appetite and strategy.
- C . Enhancing risk response decisions.
- D . Reducing operational surprises and losses.
According to IIA guidance, which of the following statements is true regarding periodic internal assessments of the internal audit activity?
- A . Internal assessments are conducted to benchmark the internal audit activity’s performance against industry best practices.
- B . Internal assessments must be performed at least once every five years by a qualified assessor.
- C . An internal auditor may perform a peer review of a colleague’s workpapers, as long as the auditor wasn’t involved in the audit under review.
- D . Follow-up to ensure appropriate improvements are implemented is a recommended, but not mandatory, element of internal assessments.
Given the highly technical and legal nature of privacy issues, which of the following statements best describes the internal audit activity’s responsibility with regard to assessing an organization’s privacy framework?
- A . If an organization does not have a mature privacy framework, the internal audit activity should assist in developing and implementing an appropriate privacy framework.
- B . Because the audit committee is ultimately responsible for ensuring that appropriate control processes are in place to mitigate risks associated with personal information, the internal audit activity is
- C . required to conduct privacy assessments.
- D . The internal audit activity may delegate to nonaudit IT specialists the responsibility of determining whether personal information has been secured adequately and data protection controls are sufficient.
- E . The internal audit activity should have appropriate knowledge and competence to conduct an asses …….framework.
Which of the following best demonstrates the authority of the internal audit activity?
- A . Suggesting alternatives to decision makers.
- B . Improving the integrity of information.
- C . Determining the scope of internal audit services.
- D . Achieving engagement objectives.
Which of the following would be the most important consideration by the internal audit activity when selecting employees to perform an internal quality assessment?
- A . Their understanding of auditing standards.
- B . Previous experience working with the internal audit activity.
- C . Their reporting line within the organization.
- D . The nature of their regular duties and responsibilities.
Which of the following actions best demonstrates that an internal auditor is exercising due professional care?
- A . The auditor performs thorough reviews and provides absolute assurance of regulatory compliance.
- B . The auditor is alert to the possibility of fraud and activities where irregularities are most likely to occur.
- C . The auditor recommends improvements for all of the organization’s procedures and practices.
- D . The auditor is cognizant of reducing travel expenses by combining a personal vacation with a business trip.
An internal auditor is reviewing the accounts receivable when she discovers account balances more than three years old. The auditor was previously supervising the area during this time, and she subsequently advises the chief audit executive (CAE) of a potential conflict.
Which of the following is the most appropriate course of action for the CAE to take?
- A . Replace the auditor with another audit staff member.
- B . Continue with the present auditor, as more than one year has passed.
- C . Withdraw the audit team and outsource the financial audit of the division.
- D . Work with the division’s management to resolve the situation.
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