IIA Updated IIA-ACCA Exam Questions and Answers by leilani

4 only

1 and 3 only

1 and 4 only

2, 3, and 4 only

The residual risk is lower than or equal to the risk appetite.

The residual risk is higher than or equal to the risk appetite.

The inherent risk is lower than or equal to the risk tolerance.

The inherent risk is higher than or equal to the risk tolerance.

When an internal auditor releases required information to a regulator, resulting in a significant loss through fines and penalties for the organization, he fails to add value.

When an internal auditor limits the scope of the audit engagement after learning that management is hiding relevant information, he demonstrates integrity.

When an internal auditor disagrees with the treatment received by workers in the organization's foreign subsidiary and alters the audit program to highlight the issue, he fails to demonstrate objectivity.

When an internal auditor continues with an audit engagement, despite the audit client's claims that the work performed is unnecessary and redundant he fails to demonstrate competency.

Vendor invoice payment requests are accompanied by a purchase order and receiving report.

Purchase orders are typed by the purchasing department using prenumbered forms.

Buyers promptly update the official vendor listing as new supplier sources become known.

Department managers initiate purchase requests that must be approved by the plant superintendent.