Iia how2pass iia-acca Exam Lab Questions by Eira q604 vce pdf

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Exam Name:	ACCA CIA Challenge Exam
Exam Code:	IIA-ACCA Dumps
Vendor:	IIA	Certification:	CIA Challenge Exam
Questions:	604 Q&A's	Shared By:	eira

Question 20

According to the Standards, which of the following is leastimportant in determining the adequacy of an annual audit plan?

Options:

Sufficiency.

Appropriateness.

Effective deployment.

Cost effectiveness.

Discussion

Question 21

According to IIA guidance, which of the following would not be a consideration for the internal audit activity (IAA) when determining the need to follow-up on recommendations?

Options:

Degree of effort and cost needed to correct the reported condition.

Complexity of the corrective action.

Impact that may result should the corrective action fail.

Amount of resources required to conduct the follow-up activities.

Discussion

Question 22

An audit identified a number of weaknesses in the configuration of a critical client/server system. Although some of the weaknesses were corrected prior to the issuance of the audit report, correction of the rest will require between 6 and 18 months for completion. Consequently, management has developed a detailed action plan, with anticipated completion dates, for addressing the weaknesses. What is the most appropriate course of action for the chief audit executive to take?

Options:

Assess the status of corrective action during a follow-up audit engagement after the action plan has been completed.

Assess the effectiveness of corrections by reviewing statistics related to unplanned system outages, and denials of service.

Reassign information systems auditors to assist in implementing management's action plan.

Evaluate the ability of the action plan to correct the weaknesses and monitor key dates and deliverables.

Discussion

Question 23

Which of the following statements about internal audit's follow-up process is true?

Options:

The nature, timing, and extent of follow-up for assurance engagements is standardized to ensure quality performance.

The actions of external auditors and other external assurance providers is not encompassed by internal audit's follow-up process.

Internal auditors have responsibility for determining if management and the board have implemented the recommended action or otherwise accepted the risk.

The follow-up process must be complete and documented in the working papers in order to conclude the engagement.

Discussion

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