IIA-IAP LATEST DUMPS PPT | LATEST IIA-IAP TEST FEE

IIA-IAP Latest Dumps Ppt | Latest IIA-IAP Test Fee

IIA-IAP Latest Dumps Ppt | Latest IIA-IAP Test Fee

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To take the IIA-IAP Exam, candidates must meet certain eligibility requirements, such as having a high school diploma or equivalent and completing an internal audit training program. IIA-IAP exam is computer-based and consists of 100 multiple-choice questions. Candidates have two hours to complete the exam, and a passing score is 75%. IIA-IAP Exam is offered in several languages, and candidates can take it at various testing centers around the world.

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The Institute of Internal Auditors (IIA) is a global association of internal auditors that promotes the role and value of internal auditing within organizations. The IIA offers a range of certifications to internal auditors, including the Internal Audit Practitioner (IIA-IAP) certification. The IIA-IAP is an entry-level certification that tests fundamental knowledge and skills in internal auditing.

The Internal Audit Practitioner (IIA-IAP) Certification Exam is a globally recognized certification offered by the Institute of Internal Auditors (IIA). It is an entry-level certification that is designed to assess a candidate's knowledge and skills in the field of internal auditing. The IIA-IAP Certification is aimed at individuals who are new to the internal audit profession and who wish to demonstrate their commitment to the profession and their ability to perform the role of an internal auditor.

IIA Internal Audit Practitioner Sample Questions (Q26-Q31):

NEW QUESTION # 26
Management has decided that transactions less than $50 no longer require authorization. Which of the following risk management strategies does this represent?

  • A. Avoid.
  • B. Reduce.
  • C. Accept.

Answer: C

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Risk Acceptance: By deciding that transactions below $50 do not require authorization, management is consciously accepting the low-level risk associated with this decision to streamline processes and reduce administrative burdens.


NEW QUESTION # 27
Which sampling technique uses a nonrandom selection process that is expected to be representative of the population as a whole?

  • A. Haphazard sampling.
  • B. Judgmental sampling.
  • C. Attribute sampling.

Answer: B

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Definition of Sampling Techniques:
* Judgmental Sampling: A nonrandom method where the auditor uses their professional judgment to select items expected to be representative of the population.
* Haphazard Sampling: A nonrandom approach without systematic methodology, relying on arbitrary selection.
* Attribute Sampling: A statistical sampling method used to test for specific attributes or characteristics in a population.
* Reasoning:
* Option A is correct because judgmental sampling intentionally selects items based on the auditor' s knowledge and expectations, aiming for representation.
* Option B (haphazard sampling) lacks intentionality and may not reliably represent the population.
* Option C (attribute sampling) involves random, statistical selection rather than a nonrandom process.
* When to Use Judgmental Sampling:
* It is appropriate when the auditor has sufficient expertise to select representative items and when statistical sampling is not feasible.


NEW QUESTION # 28
An internal auditor wants to use computerized audit tools and techniques. Which of the following is a common obstacle that the auditor is likely to face?

  • A. Difficulty getting the requisite IT personnel to conduct the tests.
  • B. A lack of specialist IT skills needed to use the tools.
  • C. Difficulty obtaining access privileges to relevant and reliable data.

Answer: C

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Challenges with Computer-Assisted Audit Tools (CAATs):
* One of the most common issues auditors face is obtaining access to the data needed for analysis, especially when data is stored in secure or restricted systems.
* Access issues may arise due to technical restrictions, security policies, or inadequate documentation of data sources.
* Reasoning:
* Option A is correct because gaining access to relevant, complete, and reliable data is a frequent challenge when using computerized audit tools.
* Option B is less common, as CAATs are often designed for use by auditors without requiring advanced IT skills.
* Option C refers to reliance on IT personnel, which is less relevant for independent auditors using their own tools.
* Mitigating Access Challenges:
* Establishing clear communication with IT and obtaining necessary approvals in advance can help overcome data access issues.


NEW QUESTION # 29
Which of the following actions could the chief audit executive take to most directly support the requirement that internal auditors maintain proficiency?

  • A. Develop a risk-based internal audit plan
  • B. Provide training and mentoring opportunities
  • C. Obtain approval of the internal audit activity's purpose, authority, and responsibility

Answer: B

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Training and Mentoring: Offering continuous training and mentoring ensures auditors enhance their skills and maintain proficiency, aligning with IIA Standard 1230: Continuing Professional Development.


NEW QUESTION # 30
During engagement planning, which of the following would provide an internal auditor with a sufficient understanding of the process being audited?

  • A. The objectives and risk management of the process.
  • B. Management's opinion on the thoroughness of a previous internal audit of the same process.
  • C. The mission, vision, and strategic objectives of the organization.

Answer: A

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 2200 - Engagement Planning: Internal auditors must develop a plan that considers the objectives, risks, and controls of the area being audited.
* Standard 2210 - Engagement Objectives: The objectives of the engagement must be aligned with the organization's processes and risk management practices.
* Reasoning:
* Option C is correct because understanding the process's objectives and associated risks allows the auditor to design procedures to assess how well risks are managed and objectives are achieved.
* Option A (mission, vision, and strategic objectives) provides organizational context but does not give detailed insights into the specific process.
* Option B (management's opinion) is subjective and insufficient for developing a comprehensive understanding of the process.
* Effective Engagement Planning:
* Focus on process-specific objectives, risks, and controls ensures a targeted and effective audit, contributing to meaningful outcomes.


NEW QUESTION # 31
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