Pass the IIA CIA Challenge Exam IIA-ACCA Questions and answers with ExamsMirror

According to IIA guidance, which of the following is true regarding the exit conference for an internal audit engagement?

An organization's internal audit plan includes a recurring assurance review of the human resources (HR) department. Which of the following statements is true regarding preliminary communication between the auditor in charge (AIC) and the HR department?

1. The AIC should notify HR management when the draft audit plan is being developed, as a courtesy.

2. The AIC should notify HR management before the planning stage begins.

3. The AIC should schedule formal status meetings with HR management at the start of the engagement.

4. The AIC should finalize the scope of the engagement before communicating with HR management.

When an organization is choosing a new external auditor, which of the following is the most appropriate role for the chief audit executive to undertake?

An organization has recorded the following profit and expenses:

Profit before interest and tax

$200,000

Sales

$2,300,000

Purchases of materials

$700,000

Interest expenses

$30,000

If the value-added tax (VAT) rate is 20 percent and the corporate tax rate is 30 percent, which of the following is the amount of VAT that the organization has to pay?

Which of the following statements accurately describes one of the characteristics that distinguishes a multinational company from a domestic company?

Which of the following roles would be least appropriate for the internal audit activity to undertake with regard to an organization's corporate social responsibility (CSR) program?

An organization is considering the outsourcing of its business processes related to payroll and information technology functions. Which of the following is the most significant area of concern for management regarding this proposed agreement?

The activity that involves a trial run of a product in a typical segment of the market before proceeding to a national launch is referred to as:

A multinational organization has multiple divisions that sell their products internally to other divisions. When selling internally, which of the following transfer prices would lead to the best decisions for the organization?

When granting third parties temporary access to an entity's computer systems, which of the following is the most effective control?

In the current year, a merchandising organization had an inventory turnover ratio of 3.0, which was less than the industry average of 6.5. Which of the following offers the most likely explanation for this difference?

Which of the following strategies is most appropriate for an industry that is in decline?

Which of the following statements regarding organizational governance is not correct?

According to MA guidance, which of the following would indicate poor change management control?

1. Low change success rate

2. Occasional planned outages

3. Low number of emergency changes.

4. Instances of unauthorized changes

A chief audit executive (CAE) was asked to participate in the selection of an external auditor. Which of the following would not be a typical responsibility for the CAE?