IIA-IAP IIA Internal Audit Practitioner exact Exam Questions

Internal Audit Practitioner

Last Update 17 hours ago Total Questions : 100

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Question # 21

Which of the following would be considered out of scope for a purchasing process audit engagement?

Authorization of requisitions

Control of goods

Matching goods received to requisitions

Question # 22

Which of the following interview techniques would be most effective in a fraud investigation?

The interviewer should be positioned between the suspect and the door to discourage the suspect from leaving during the interview.

The interviewer should allow the suspect to use his own words and only interrupt if a point requires clarification.

The interviewer should ensure that only the interviewer and the suspect are present for the interview.

Question # 23

Which of the following is an element of a well-formed audit recommendation?

Factual evidence identified during the engagement.

Measures to prevent recurrence of the condition.

Factors that allowed the condition to exist.

Question # 24

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

Automated workpapers.

Continuous auditing.

Control self-assessment.

Question # 25

Which of the following statements is true with regard to the adequacy of a control design?

Regardless of the adequacy of control design, it is important to evaluate the operating effectiveness of all key controls to justify the integrity of the internal audit process.

Even if a control is effective, it may not achieve the control objective due to an inadequate design.

Control designs are considered adequate as long as secondary controls will effectively mitigate the risk.

Question # 26

In addition to the internal auditor, which of the following parties need to be present at an exit or closing conference?

Audit committee members

Management over areas covered by the engagement

The chief executive officer

Question # 27

To be organizationally independent, the chief audit executive should administratively report to which of the following?

The audit committee.

The board of directors.

The chief executive officer.

Question # 28

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

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.

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.

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.