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IIA-IAP Exam covers topics such as the internal audit profession, governance, risk management, the internal audit process, and business communication. It is a computer-based exam that consists of 100 multiple-choice questions that must be completed within two hours. IIA-IAP exam is offered in multiple languages, including English, Spanish, French, German, and Chinese.

Passing the IIA-IAP exam is an important milestone for individuals who are just starting their careers in internal auditing. IIA-IAP exam helps them demonstrate their understanding of the essential principles and practices that are part of the internal audit profession. Additionally, individuals who pass the IIA-IAP exam can earn the Internal Audit Practitioner designation, which is a globally recognized mark of excellence that can enhance their professional credibility and help them advance in their careers. Overall, the IIA-IAP Exam is an excellent way for individuals to achieve a firm foundation in internal auditing and set themselves up for success in the field.

IIA-IAP Exam is an entry-level certification that helps individuals gain familiarity with the basics of internal auditing. IIA-IAP exam is suitable for professionals who have recently started their careers in internal auditing, analysts or auditors who work alongside experienced internal auditors, and professionals who manage or supervise internal audit activity. Internal Audit Practitioner certification provides individuals with a comprehensive understanding of the internal auditing process, which is essential for their growth and success in the field.

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IIA Internal Audit Practitioner Sample Questions (Q83-Q88):

NEW QUESTION # 83
Which of the following best demonstrates that appropriate and sufficient resources were allocated to an audit engagement to achieve its objectives?

A. Post-engagement survey of management of the audited area.
B. Approved engagement work program.
C. Staff skills audit.

Answer: B

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 2200 - Engagement Planning: The engagement work program outlines the resources, timelines, and procedures necessary to achieve the engagement's objectives.
* The work program must be approved to ensure alignment with objectives and resource requirements.
* Reasoning:
* Option B is correct because an approved engagement work program confirms that the scope, procedures, and resources were planned and allocated effectively.
* Option A (staff skills audit) evaluates team competencies but does not confirm specific resource allocation for an engagement.
* Option C (post-engagement survey) evaluates the outcome of the audit but does not provide evidence of initial resource planning.
* Significance of the Work Program:
* The work program ensures that the engagement is structured to meet objectives efficiently, with adequate and relevant resources.

NEW QUESTION # 84
Which of the following statements is appropriate to include in a high-quality internal audit engagement communication?

A. The internal audit team conducted a review of the financial reporting process prior to year-end. The overall findings have been provided for management's consideration prior to the completion of the organization's annual external financial audit.
B. The internal audit team noted numerous weaknesses in the organization's internal controls over financial reporting. The team recommends that management determine the root cause of the weaknesses.
C. The internal audit team conducted an engagement under the assumption that significant control weaknesses were likely. The purpose of the review was to uncover those weaknesses.

Answer: A

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 2420 - Quality of Communications: Reports should be accurate, objective, clear, concise, constructive, and complete.
* Findings must be presented factually and free from assumptions or bias.
* Reasoning:
* Option A is correct because it presents the purpose, timing, and findings in a clear and professional manner, allowing management to take informed action.
* Option B lacks balance and shifts responsibility for identifying root causes to management without actionable recommendations.
* Option C includes a biased assumption, undermining the report's objectivity and professionalism.
* Impact of Quality Communication:
* High-quality communications support decision-making by presenting findings and recommendations constructively.

NEW QUESTION # 85
A senior internal auditor is planning a compliance audit of the organization's global purchasing department.
Which of the following criteria is a relevant consideration for establishing the engagement objectives?

A. Current governance laws and regulations in the countries in which the organization operates
B. Location of all global operations that acquire goods through the organization's global purchasing department
C. A list of all items acquired through the organization's global purchasing department in the past year

Answer: A

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Compliance Audit Criteria: The objective of a compliance audit is to assess adherence to applicable laws, regulations, and internal policies. Considering current governance laws and regulations ensures the audit is aligned with mandatory requirements.

NEW QUESTION # 86
A senior internal auditor is using a risk and control matrix to facilitate an internal control assessment of the fixed asset accounting process. Which of the following activities would aid the auditor in determining inputs for the risk and control matrix?

A. Reviewing the results of control effectiveness testing of the fixed asset capitalization subprocess.
B. Interviews with fixed asset management, control process walkthroughs, and internal control questionnaires.
C. Management's cost-benefit analysis of internal control alternatives considered in the design of the fixed asset accounting process.

Answer: B

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Gathering Inputs for the Matrix: Interviews, walkthroughs, and questionnaires are primary tools for gathering detailed insights into risks, controls, and processes. These activities provide the information necessary to populate a risk and control matrix effectively.

NEW QUESTION # 87
Which of the following best ensures that the internal audit activity is free from undue interference from management?

A. An audit charter that defines the chief audit executive's functional reporting relationship with the board.
B. Audit policies and procedures that are comprehensive and well-documented, in accordance with the Standards.
C. A board audit committee that is composed of competent, independent members.

Answer: A

NEW QUESTION # 88
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