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IIA-ACCA – ACCA CIA Challenge Exam

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Showing 13–15 of 20 questions

Question 13 (Practice of Internal Auditing)

An internal auditor wants to determine whether employees are complying with the information security policy, which prohibits leaving sensitive information on employee desks overnight. The auditor checked a sample of 90 desks and found eight that contained sensitive information. How should this observation be reported, if the organization tolerates

4 percent noncompliance?

Select an option, then click Submit answer.

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    The matter does not need to be reported, because the noncompliant findings fall within the acceptable tolerance limit.

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    The deviations are within the acceptable tolerance limit, so the matter only needs to be reported to the information security manager.

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    The incidents of noncompliance fall outside the acceptable tolerance limit and require immediate corrective action, as opposed to reporting.

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    The incidents of noncompliance exceed the tolerance level and should be included in the final engagement report.


Question 14 (Business Knowledge for Internal Auditing)

Which of the following is classified as a product cost using the variable costing method?

1. Direct labor costs

2. Insurance on a factory.

3. Manufacturing supplies.

4. Packaging and shipping costs

Select an option, then click Submit answer.

  • ○

    1 and 2

  • ○

    1 and 3

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    2 and 4

  • ○

    3 and 4


Question 15 (Essentials of Internal Auditing)

According to IIA guidance, which of the following are macro-level audit activities performed for an assurance engagement of the purchasing department?

1. Obtain and review all purchasing-related audit reports issued within the past year.

2. Meet with the quality assurance group to discuss its previous reports of any purchasingrelated findings.

3. Review a memo written by the purchasing manager that outlines ongoing problems withthe purchasing software.

4. Request a copy of the report from a purchasing audit conducted last year by an externalservice provider.

Select an option, then click Submit answer.

  • ○

    1 and 2.

  • ○

    1 and 3.

  • ○

    2 and 4.

  • ○

    3 and 4.