IIA-IAP RELIABLE EXAM TOPICS | NEW IIA-IAP TEST PATTERN

IIA-IAP Reliable Exam Topics | New IIA-IAP Test Pattern

IIA-IAP Reliable Exam Topics | New IIA-IAP Test Pattern

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Tags: IIA-IAP Reliable Exam Topics, New IIA-IAP Test Pattern, IIA-IAP Latest Test Bootcamp, PDF IIA-IAP Download, IIA-IAP Valid Dumps Free

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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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IIA-IAP Certification Exam is an excellent opportunity for entry-level internal auditors to demonstrate their knowledge and commitment to the profession. Internal Audit Practitioner certification can enhance their career prospects and help them stand out in a competitive job market. IIA-IAP Exam is designed to test the candidate's knowledge of the internal audit process, ethics, and professional standards. Candidates who pass the exam receive the IIA-IAP certification, which is valid for three years and maintained through annual CPE credits.

IIA Internal Audit Practitioner Sample Questions (Q93-Q98):

NEW QUESTION # 93
Which of the following would have the most direct impact on management's decision regarding the amount of risk that is considered acceptable?

  • A. Risk perception.
  • B. Risk capacity.
  • C. Risk appetite.

Answer: C

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 2120 - Risk Management: Internal audit should evaluate the organization's risk appetite and alignment with decision-making processes.
* Definitions:
* Risk Appetite (Option B): The level of risk an organization is willing to accept in pursuit of its objectives, making it the most direct determinant of acceptable risk levels.
* Risk Capacity (Option A): The organization's ability to absorb risk, which is more strategic and long-term.
* Risk Perception (Option C): Subjective views of risk, which can influence decisions but do not directly determine acceptable risk.


NEW QUESTION # 94
Which of the following is the most appropriate audit objective?

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

Answer: A

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 # 95
Based on the three elements of the Fraud Triangle, which of the following might be considered a fraud indicator related to the opportunity element?

  • A. Poor segregation of duties allows for an executive assistant to authorize payments to one-time vendors without supervisory approvals
  • B. Reserves were established based on conservative assumptions to maximize the amounts set aside for when operating results may not meet investors' expectations
  • C. Executive management establishes financial performance objectives for business unit managers. The objectives include significant increases in annual sales and market penetration

Answer: A

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Opportunity Element: This element of the Fraud Triangle refers to situations where weaknesses in controls provide the ability for someone to commit fraud without being detected. Poor segregation of duties, as described in Option C, creates such opportunities.
* Example: Allowing an executive assistant to authorize payments without oversight significantly increases the risk of fraud.


NEW QUESTION # 96
Which of the following statements is true regarding engagement status meetings?

  • A. They should involve the chief audit executive and senior management.
  • B. They are expected to enhance the relationships between the internal audit activity and management of the area under review.
  • C. They mainly involve one-way communication from the internal auditor to management of the area under review.

Answer: B

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Enhancing Relationships: Status meetings facilitate two-way communication, keeping management informed about audit progress and fostering collaboration. Open discussions during these meetings help address concerns and strengthen the relationship between internal audit and management.


NEW QUESTION # 97
What is the primary purpose of a preliminary survey?

  • A. To gain an understanding of the process under review.
  • B. To determine why the engagement is being performed.
  • C. To develop a risk and control matrix for the process under review.

Answer: A

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Preliminary Survey Purpose: The survey is conducted to gather sufficient information to understand the process, environment, and related risks. This understanding serves as a foundation for planning the engagement.


NEW QUESTION # 98
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