FREE PDF QUIZ 2025 IIA ACCURATE IAA-IAP CERT

Free PDF Quiz 2025 IIA Accurate IAA-IAP Cert

Free PDF Quiz 2025 IIA Accurate IAA-IAP Cert

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Tags: IAA-IAP Cert, IAA-IAP Reliable Test Question, Valid IAA-IAP Exam Syllabus, IAA-IAP New Study Questions, Exam IAA-IAP Learning

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Quiz IAA-IAP - High Hit-Rate Internal Audit Practitioner Cert

The IIA IAA-IAP certification exam is one of the top-rated and valuable credentials in the IIA world. This IIA IAA-IAP certification exam is designed to validate a candidate's skills and knowledge. With IIA IAA-IAP Certification Exam everyone can upgrade their expertise and knowledge level.

IIA Internal Audit Practitioner Sample Questions (Q96-Q101):

NEW QUESTION # 96
An internal auditor is conducting a human resources audit engagement. Which of the following observations would increase the probability of fraud?

  • A. Lack of background checks.
  • B. Vague job descriptions.
  • C. Poor interview skills.

Answer: A

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Fraud Risk Factors:
* Lack of proper vetting processes, such as background checks, significantly increases the likelihood of hiring individuals who may pose a fraud risk.
* Reasoning:
* Option Bis correct because failing to conduct background checks creates opportunities for hiring individuals with a history of unethical behavior, increasing fraud risk.
* Option A(vague job descriptions) may lead to inefficiencies or unclear expectations but does not directly relate to fraud risk.
* Option C(poor interview skills) might affect hiring quality but does not increase fraud probability.
* Best Practice:
* Conducting thorough background checks is a critical control to reduce fraud risk in human resources processes.


NEW QUESTION # 97
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. A list of all items acquired through the organization's global purchasing department in the past year
  • B. Location of all global operations that acquire goods through the organization's global purchasing department
  • C. Current governance laws and regulations in the countries in which the organization operates

Answer: C

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 # 98
Which of the following is the best audit procedure to determine whether all of a bank's loans are backed by sufficient collateral, properly aged as to current payments, and properly categorized as current or noncurrent?

  • A. Select a block sample of all loans in excess of a specified dollar limit and determine whether they are current and properly categorized. For each loan approved, verify aging and categorization.
  • B. Select a discovery sample of all loan applications to determine whether each application contains a statement of collateral.
  • C. Use generalized audit software to read the total loan file, age the file by last payment due, and select a statistical sample stratified by the current and aged population. Examine each loan selected for proper collateralization and aging.

Answer: C

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* IIA Performance Standard 1220.A2: Internal auditors must consider using technology-based audit techniques and other data analysis tools.
* Performance Standard 2320 - Analysis and Evaluation: Sufficient and appropriate analysis should be performed to achieve the engagement's objectives.
* Best Audit Practice for the Scenario:
* OptionAinvolves usinggeneralized audit software (GAS)to extract relevant data from the loan file and stratify it based on specific criteria (e.g., age of loans, collateral backing). This ensures a statistically valid sample.
* By examining a stratified sample, the auditor can determine whether each loan is sufficiently collateralized, aged correctly, and categorized properly.
* This method provides comprehensive coverage while maintaining efficiency and adhering to best practices.
* Why Other Options Are Less Effective:
* Option B: A block sample only includes loans over a certain dollar threshold, which introduces a selection bias and overlooks smaller loans, making the sample less representative.
* Option C: A discovery sample limited to loan applications focuses on documentation compliance (e.g., collateral statements) but does not address loan aging or categorization.
* Practical Implications:
* Generalized audit software automates data analysis, reduces manual effort, and increases the reliability of audit conclusions.
* By selecting a representative statistical sample stratified by population characteristics, auditors gain insights that are applicable to the entire population.


NEW QUESTION # 99
Which of the following tools would assist with the coordination of efforts between the internal audit team and operational management?

  • A. Continuous auditing.
  • B. Control self-assessment.
  • C. Automated workpapers.

Answer: B

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Control Self-Assessment (CSA): This tool involves management and staff in evaluating controls and risks, fostering collaboration between operational teams and internal audit. CSA supports shared responsibility for risk management and control improvement.


NEW QUESTION # 100
During an accounts payable audit engagement, the internal auditor identified a risk that vendor invoices may be paid multiple times. Which of the following would be appropriate preventive controls to mitigate this risk?

  • A. System controls to identify identical invoice numbers and dates from the same vendor prior to payment.
  • B. System controls to identify identical invoice amounts from the same vendor that prohibit payment after the initial invoice.
  • C. Manual controls requiring the reconciliation of paid vendor invoices to monthly invoice statements provided by the vendor.

Answer: A

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Preventive System Controls: Identifying duplicate invoice numbers and dates is a robust preventive control, as it helps flag duplicate invoices before payment is processed.


NEW QUESTION # 101
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