TEST IIA-IAP PREP, CUSTOMIZED IIA-IAP LAB SIMULATION

Test IIA-IAP Prep, Customized IIA-IAP Lab Simulation

Test IIA-IAP Prep, Customized IIA-IAP Lab Simulation

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Tags: Test IIA-IAP Prep, Customized IIA-IAP Lab Simulation, IIA-IAP Quiz, Reasonable IIA-IAP Exam Price, IIA-IAP Latest Materials

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IIA-IAP exam is a computer-based exam that is administered at Pearson VUE testing centers around the world. IIA-IAP exam consists of 115 multiple-choice questions and has a time limit of 2.5 hours. The passing score for the IIA-IAP Exam is 70%.

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Customized IIA-IAP Lab Simulation | IIA-IAP Quiz

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IIA Internal Audit Practitioner Sample Questions (Q84-Q89):

NEW QUESTION # 84
Internal and external benchmarking by the internal audit activity are examples of which of the following?

  • A. Analytical procedures
  • B. Inquiry
  • C. Confirmation

Answer: A

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Analytical Procedures: Benchmarking compares an organization's performance against internal or external standards, which is a core analytical procedure used to assess efficiency, effectiveness, or best practices.


NEW QUESTION # 85
Which of the following statements is true regarding root cause analysis?

  • A. Root cause analysis enables internal auditors to improve the effectiveness and efficiency of the organization's governance, risk management, and control processes.
  • B. Root cause analysis enables internal auditors to reveal multiple causes and recommend control enhancements for each cause identified.
  • C. Root cause analysis is a simple, straightforward tool that can be implemented by internal auditors who may not possess relevant subject matter expertise.

Answer: B

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Root Cause Analysis: This method identifies underlying causes of issues rather than just addressing symptoms, allowing internal auditors to recommend targeted improvements to controls and processes.
By identifying multiple causes, auditors can propose tailored control enhancements to address each cause effectively.


NEW QUESTION # 86
Which of the following statements best describes quality audit workpapers?

  • A. They should be relevant and interesting.
  • B. They should be understandable and complete.
  • C. They should be electronic and indexed.

Answer: B

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 2330 - Documenting Information: Workpapers must be sufficient, reliable, relevant, and useful to support audit findings and conclusions.
* Practice Advisory: Clear and complete documentation enhances understanding and ensures consistency in audit conclusions.
* Characteristics of Quality Workpapers:
* They should clearly articulate audit procedures, results, and conclusions in a way that another auditor or stakeholder can understand and rely on them.
* While electronic and indexed workpapers (Option B) are desirable for organization, they are not defining characteristics of quality.


NEW QUESTION # 87
Which of the following would an internal auditor most likely use to document a complex process that includes risks and controls, timelines, and ownership of key steps?

  • A. Detailed flowchart.
  • B. Risk and control matrix.
  • C. Process map.

Answer: B

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 2330 - Documenting Information: Internal auditors are required to document audit evidence and processes in a way that is clear, complete, and supports audit conclusions.
* Risk and control matrices are effective for documenting risks, controls, and related responsibilities in a structured way.
* Reasoning:
* Option C is correct because a risk and control matrix clearly documents processes, the associated risks, control activities, and ownership of each step. It is the most suitable tool for understanding risks and controls along with associated timelines and responsibilities.
* Option A (process map) documents the steps in a process but does not directly link risks and controls.
* Option B (detailed flowchart) is used to map the flow of a process but also lacks the structure for detailing risks and control ownership.
* Best Practice for Documentation:
* A risk and control matrix is the most structured and comprehensive tool for documenting complex processes that involve risks, controls, and ownership.


NEW QUESTION # 88
Which of the following is the most appropriate audit objective?

  • A. Analyze the turnover rates in mining and production subsidiaries.
  • B. Evaluate common practices of hiring via interviews with responsible personnel.
  • C. Assess compliance with human resources hiring and compensation policies.

Answer: C

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 2210 - Engagement Objectives: Audit objectives must align with the engagement scope and focus on evaluating compliance, efficiency, and effectiveness.
* Reasoning:
* Option C is correct because assessing compliance with HR policies is a specific, measurable, and relevant objective aligned with internal audit's role in evaluating governance and control processes.
* Option A (analyzing turnover rates) is more investigative and does not align with assessing processes or compliance.
* Option B (evaluating common practices) is vague and lacks a clear link to controls, policies, or risks.
* Impact of Clear Objectives:
* Well-defined objectives, like compliance assessment, ensure the audit delivers actionable insights and adds value to the organization.


NEW QUESTION # 89
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