Free IIA IIA-ACCA Practice Questions 2026 - Page 8

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 with the purchasing software.
4. Request a copy of the report from a purchasing audit conducted last year by an external service provider.

A. 1 and 2.

B. 1 and 3.

C. 2 and 4.

D. 3 and 4.

According to The MA Global Internal Audit Competency Framework, which of the following areas of training would best assist the internal audit activity in improving its use of tools and techniques?

A. Negotiation and conflict resolution.

B. Project management.

C. Financial accounting.

D. Ethics and fraud.

A fraud investigation was completed by management, and a proven fraud was communicated to relevant authorities. According to MA guidance, which of the following roles would be most appropriate for the internal audit activity to undertake after the investigation?

A. Plan employee sessions and team building strategies for the organization to improve awareness of fraud among employees.

B. Review the investigation and implement any improvements to the process.

C. Conduct lessons learned sessions to ascertain how the fraud occurred and which controls failed.

D. Determine why The fraud was not detected earlier and design controls to strengthen early detection.

The chief audit executive (CAE) is planning to conduct an internal assessment of the internal audit activity (IAA). Part of this assessment will include benchmarking. According to IIA guidance, which of the following qualitative metrics would be appropriate for the CAE to use?

1. Average client customer satisfaction score for a given year.
2. Client survey comments on how to improve the IAA.
3. Auditor interviews once an audit has been completed.
4. Percentage of audits completed within 90 days.

A. 1 and 2.

B. 1 and 3.

C. 2 and 3.

D. 3 and 4.

Which of the following best ensures the independence of the internal audit activity?

1. The CEO and audit committee review and endorse any changes to the approved audit plan on an annual basis.
2. The audit committee reviews the performance of the chief audit executive (CAE) periodically.
3. The internal audit charter requires the CAE to report functionally to the audit committee.

A. 3 only

B. 1 and 2 only

C. 2 and 3 only

D. 1, 2, and 3

According to the COSO internal control framework, which of the following best describes the use of continuous auditing programs by the internal audit activity?

A. Control environment.

B. Control activities.

C. Risk assessment.

D. Monitoring.

Which of the following activities should the chief audit executive perform to ensure compliance with an organization's code of conduct?

A. Act as an adviser to the committee responsible for reviewing violations of the code.

B. Review and adjudicate all violations of the code of conduct.

C. Lead the committee responsible for the oversight of the code.

D. Implement a system of procedures to inform all employees of the code.

An auditor in charge was reviewing the workpapers submitted by a newly hired internal auditor. She noted that the new auditor's analytical work did not include any rating or quantification of the risk assessment results, and she returned the workpapers for correction. Which section of the workpapers will the new auditor need to modify?

A. Condition section.

B. Criteria section.

C. Effect section.

D. Cause section.

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

A. They assist in the implementation of recommendations.

B. They provide support for communication to third parties.

C. They demonstrate compliance with auditing standards.

D. They contribute to development of the internal audit staff.

Which of the following would not be considered part of preliminary survey of an engagement area?

A. Interviews with individuals affected by the entity.

B. Functional walk through test.

C. Analytical reviews.

D. Sampling scope.