Free IIA IIA-ACCA Actual Exam Questions
The questions for this exam were last updated on January 7, 2026
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Question No. 1
An organization with global headquarters in the United States has subsidiaries in eight other nations.
If the organization operates with an ethnocentric attitude, which of the following statements is true?
If the organization operates with an ethnocentric attitude, which of the following statements is true?
Select one option, then reveal solution.
Question No. 2
A newly promoted chief audit executive (CAE) is faced with a backlog of assurance engagement
reports to review for approval. In an attempt to attach a priority for this review, the CAE scans the
opinion statement on each report. According to IIA guidance, which of the following opinions would
receive the lowest review priority?
1. Graded positive opinion.
2. Negative assurance opinion.
3. Limited assurance opinion.
4. Third-party opinion.
reports to review for approval. In an attempt to attach a priority for this review, the CAE scans the
opinion statement on each report. According to IIA guidance, which of the following opinions would
receive the lowest review priority?
1. Graded positive opinion.
2. Negative assurance opinion.
3. Limited assurance opinion.
4. Third-party opinion.
Select one option, then reveal solution.
Question No. 3
Division A produces a product with a variable cost of $5 per unit and an allocated fixed cost of S3 per
unit The market price of the product is S15 plus 20 percent selling cost. Division B currently
purchases this product from an external supplier but is going to purchase it from division A for S18
Which of the following methods of transfer pricing is being used?
unit The market price of the product is S15 plus 20 percent selling cost. Division B currently
purchases this product from an external supplier but is going to purchase it from division A for S18
Which of the following methods of transfer pricing is being used?
Select one option, then reveal solution.
Question No. 4
Which of the following statements about matrix organizations is false?
Select one option, then reveal solution.
Question No. 5
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 purchasing-related
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.
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 purchasing-related
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.
Select one option, then reveal solution.
Question No. 6
An internal audit team is performing an audit of workplace accident claims.
Which of the following actions by the audit team best demonstrates due professional care?
Which of the following actions by the audit team best demonstrates due professional care?
Select one option, then reveal solution.
Question No. 7
Which segregation of duties would best reduce the risk of payroll fraud?
Select one option, then reveal solution.
Question No. 8
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?
appropriate role for the chief audit executive to undertake?
Select one option, then reveal solution.
Question No. 9
Which of the following best describes the misdirection of payments on accounts receivable to an
employee's bank account?
employee's bank account?
Select one option, then reveal solution.
Question No. 10
An organization is beginning to implement an enterprise risk management program. One of the first
steps is to develop a common risk language. Which of the following statements about a common risk
language is true?
steps is to develop a common risk language. Which of the following statements about a common risk
language is true?
Select one option, then reveal solution.
Question No. 11
Which two of the following are preventive controls in a check disbursement process?
1. Daily reconciliation of the bank account used for check disbursements and prompt follow-up of un-
reconciled items.
2. Segregation of the following duties: establishing new vendors, approving checks, and reconciling
the bank account.
3. An activity report detailing who accesses the check disbursement system and the nature of any
action taken in the system.
4. Evidence of strong access controls ensuring that authorized individuals have access only to the
functions related to their responsibilities.
1. Daily reconciliation of the bank account used for check disbursements and prompt follow-up of un-
reconciled items.
2. Segregation of the following duties: establishing new vendors, approving checks, and reconciling
the bank account.
3. An activity report detailing who accesses the check disbursement system and the nature of any
action taken in the system.
4. Evidence of strong access controls ensuring that authorized individuals have access only to the
functions related to their responsibilities.
Select one option, then reveal solution.
Question No. 12
Which of the following is not a common feature of cumulative preferred stock?
Select one option, then reveal solution.
Question No. 13
While performing an accounts payable engagement, a senior auditor wants to conduct several tests
of controls for travel expenses. Which of the following actions are most appropriate for the senior
auditor to undertake?
1. Ensure all tests use a random sampling technique.
2. Consider a judgmental approach for the sample size.
3. Assess testing errors through root cause analysis.
4. Ensure that the entire data set is tested.
of controls for travel expenses. Which of the following actions are most appropriate for the senior
auditor to undertake?
1. Ensure all tests use a random sampling technique.
2. Consider a judgmental approach for the sample size.
3. Assess testing errors through root cause analysis.
4. Ensure that the entire data set is tested.
Select one option, then reveal solution.
Question No. 14
An internal auditor has been asked to conduct an investigation involving allegations of independent
contractor fraud. Which of the following controls would be least effective in detecting any potential
fraudulent activity?
contractor fraud. Which of the following controls would be least effective in detecting any potential
fraudulent activity?
Select one option, then reveal solution.
Question No. 15
According to IIA guidance, the results of a formal quality assessment should be reported to which of
the following groups?
the following groups?
Select one option, then reveal solution.