AVAIL REALISTIC IIA-IAP EXAM PREVIEW TO PASS IIA-IAP ON THE FIRST ATTEMPT

Avail Realistic IIA-IAP Exam Preview to Pass IIA-IAP on the First Attempt

Avail Realistic IIA-IAP Exam Preview to Pass IIA-IAP on the First Attempt

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Tags: IIA-IAP Exam Preview, IIA-IAP Latest Braindumps Files, Reliable IIA-IAP Braindumps Book, IIA-IAP Valid Dump, IIA-IAP Reliable Test Test

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IIA-IAP certification program provides a comprehensive understanding of the essential principles and practices of internal auditing. The program includes self-study materials, online courses, and classroom training. Candidates can choose the format that best suits their learning style and schedule. The program also includes a practice exam to help candidates prepare for the actual exam. The practice exam provides an opportunity for candidates to assess their readiness and identify areas where they need to improve.

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IIA Internal Audit Practitioner Sample Questions (Q91-Q96):

NEW QUESTION # 91
The engagement supervisor is coordinating an audit of investments and needs to select an audit team member to determine the test attributes. Which of the following team members is most appropriate for the engagement supervisor to select?

  • A. An auditor with strong leadership skills who has experience leading projects for the IT audit department.
  • B. An auditor who transferred from the investment department six months prior and has expert knowledge of investments.
  • C. An auditor who has investment audit experience from a previous organization, but who has never performed investment audits at the current organization.

Answer: B

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 1210 - Proficiency: Internal auditors must possess the necessary knowledge, skills, and competencies to conduct audits effectively.
* The auditor should have the relevant expertise to evaluate investment-related test attributes.
* Reasoning:
* Option A is correct because the auditor has direct knowledge and expertise in investments, making them the most qualified to determine the relevant test attributes for the audit.
* Option B (IT audit experience) does not align with the specific skills required for investment auditing.
* Option C (previous experience) may offer some advantage, but the lack of familiarity with the current organization's processes limits the auditor's effectiveness.
* Importance of Expertise:
* Selecting an auditor with relevant experience and proficiency ensures that the audit will be conducted with accuracy and that the proper test attributes will be identified.


NEW QUESTION # 92
According to IIA guidance, which of the following are commonly standardized workpaper elements?

  • A. Workpapers should be completed in an electronic format only
  • B. Workpapers should include a uniform cross-referencing system
  • C. Workpapers should be supported by inclusion of original documentation

Answer: B

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Uniform Cross-Referencing System: A standardized cross-referencing system ensures consistency, facilitates review, and allows quick retrieval of supporting documents. This is a best practice widely recommended by the IIA in workpaper documentation.


NEW QUESTION # 93
During an assurance engagement of an organization's procurement process, an internal auditor obtained the policy that specified the authorized dollar limits for invoices. This document would best support which of the following attributes of an audit report?

  • A. Criteria
  • B. Condition
  • C. Effect

Answer: A

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to Audit Report Elements:
* Criteria: The benchmark or standard used for comparison during the audit (e.g., policies, regulations, contracts).
* Condition: The factual observation or evidence identified during the audit.
* Effect: The impact or consequence of the condition on the organization.
* Reasoning:
* Option C is correct because the procurement policy specifies authorized limits, serving as the standard (criteria) against which compliance is assessed.
* Option B (condition) refers to the actual state of observed controls, processes, or compliance, not the benchmark.
* Option A (effect) describes the potential or realized impact of non-compliance but not the standard itself.
* Importance of Criteria:
* Criteria provide a clear benchmark, ensuring that findings are communicated with context and actionable insights.


NEW QUESTION # 94
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. Manual controls requiring the reconciliation of paid vendor invoices to monthly invoice statements provided by the vendor.
  • B. System controls to identify identical invoice amounts from the same vendor that prohibit payment after the initial invoice.
  • C. System controls to identify identical invoice numbers and dates from the same vendor prior to payment.

Answer: C

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 # 95
In a standard process mapping document, a diamond shape typically represents which of the following?

  • A. Process or operation.
  • B. Decision.
  • C. Flow line.

Answer: B

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Diamond Shape: In process mapping, a diamond typically represents a decision point where a choice must be made based on conditions or criteria (e.g., "Yes" or "No").
* Example: "Is the invoice valid?" If yes, the process continues to payment; if no, it is rejected.


NEW QUESTION # 96
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