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The certification is necessary to get a job in your desired IIA company. Success in the test gives you an edge over the others because you will have certified skills that will make a good impression on the interviewer. Most people preparing for the Internal Audit Practitioner (IIA-IAP) exam are confused about preparation. How will they get real and updated Internal Audit Practitioner (IIA-IAP) exam questions? In the case of studying with outdated Internal Audit Practitioner (IIA-IAP) practice questions, you will fail and lose your resources.
The IAP exam covers topics essential for internal auditors, including the International Professional Practices Framework (IPPF), the Code of Ethics, risk management, governance, fraud, and compliance. IIA-IAP Exam consists of 100 multiple-choice questions, and examinees have two hours to complete it. The pass rate is 70%, and candidates who pass the exam can use the Internal Audit Practitioner designation.
IIA Internal Audit Practitioner Sample Questions (Q100-Q105):
NEW QUESTION # 100
Which of the following best ensures that the internal audit activity is free from undue interference from management?
- A. A board audit committee that is composed of competent, independent members.
- B. An audit charter that defines the chief audit executive's functional reporting relationship with the board.
- C. Audit policies and procedures that are comprehensive and well-documented, in accordance with the Standards.
Answer: B
Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 1110 - Organizational Independence: The chief audit executive (CAE) must report functionally to the board to ensure independence.
* The audit charter must define the CAE's functional reporting line to the board, securing protection from undue management influence.
* Reasoning:
* Option C addresses the foundational document-the audit charter-that establishes the CAE's authority and independence.
* Option A refers to operational standards, but they do not directly safeguard against interference.
* Option B strengthens governance but is secondary to the audit charter in securing independence.
* Impact:
* A robust audit charter formalizes the CAE's reporting relationship and ensures organizational independence, empowering internal audit.
NEW QUESTION # 101
During engagement planning, which of the following would provide an internal auditor with a sufficient understanding of the process being audited?
- A. The mission, vision, and strategic objectives of the organization.
- B. Management's opinion on the thoroughness of a previous internal audit of the same process.
- C. The objectives and risk management of the process.
Answer: C
Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 2200 - Engagement Planning: Internal auditors must develop a plan that considers the objectives, risks, and controls of the area being audited.
* Standard 2210 - Engagement Objectives: The objectives of the engagement must be aligned with the organization's processes and risk management practices.
* Reasoning:
* Option C is correct because understanding the process's objectives and associated risks allows the auditor to design procedures to assess how well risks are managed and objectives are achieved.
* Option A (mission, vision, and strategic objectives) provides organizational context but does not give detailed insights into the specific process.
* Option B (management's opinion) is subjective and insufficient for developing a comprehensive understanding of the process.
* Effective Engagement Planning:
* Focus on process-specific objectives, risks, and controls ensures a targeted and effective audit, contributing to meaningful outcomes.
NEW QUESTION # 102
Which of the following best describes the knowledge, skills, and abilities that internal auditors should possess with regard to fraud?
- A. Expertise in detecting and investigating fraud.
- B. Specialized skills for developing and implementing controls to prevent fraud.
- C. Sufficient knowledge to evaluate the risk of fraud.
Answer: C
Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 1210.A2: Internal auditors must have sufficient knowledge to evaluate the risk of fraud and the manner in which it is managed by the organization.
* They are not expected to have the expertise of a fraud examiner or forensic investigator.
* Reasoning:
* Option B is correct because internal auditors need enough knowledge to assess fraud risks and provide assurance over controls designed to mitigate those risks.
* Option A overstates the requirement, as fraud detection and investigation require specialized expertise typically outside the scope of general internal auditing.
* Option C refers to control development, which is a management responsibility, not an internal audit role.
* Role of Internal Audit in Fraud:
* Auditors evaluate fraud risks and provide recommendations to improve controls, ensuring alignment with organizational risk management strategies.
NEW QUESTION # 103
When determining the appropriate level of resources needed for an engagement, which of the following would be the first step?
- A. Determine the sufficiency of internal audit staff
- B. Determine travel and related costs for the engagement
- C. Identify required technology and audit tools
Answer: A
Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Resource Sufficiency: Ensuring that the internal audit team has sufficient staff with the appropriate expertise is the foundational step in resource planning for an engagement.
NEW QUESTION # 104
Which of the following interview techniques would be most effective in a fraud investigation?
- A. The interviewer should allow the suspect to use his own words and only interrupt if a point requires clarification.
- B. The interviewer should ensure that only the interviewer and the suspect are present for the interview.
- C. The interviewer should be positioned between the suspect and the door to discourage the suspect from leaving during the interview.
Answer: A
Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Allowing the Suspect to Use Their Own Words: Encouraging the suspect to speak freely provides the investigator with unfiltered insights and may reveal inconsistencies or useful details. This technique also minimizes the risk of appearing coercive or intimidating.
NEW QUESTION # 105
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