Hot IIA-IAP Dumps Free Download | Authoritative IIA-IAP Questions and Updated Reliable Internal Audit Practitioner Braindumps

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IIA-IAP (Internal Audit Practitioner) Certification Exam is a professional certification exam offered by the Institute of Internal Auditors (IIA). Internal Audit Practitioner certification is designed for individuals who are new to the internal auditing profession and are seeking to gain a foundational understanding of the principles and practices of internal auditing. The IIA-IAP certification can help individuals stand out in a competitive job market and demonstrate their commitment to the internal auditing profession.

IIA-IAP exam is an entry-level certification and is ideal for individuals who are just starting their careers in internal auditing. Internal Audit Practitioner certification is designed to provide candidates with a basic understanding of the key concepts and principles of internal auditing and equip them with the skills needed to succeed in this field. The IIA-IAP Certification is recognized by organizations around the world and can help candidates stand out in a competitive job market.

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IIA Internal Audit Practitioner Sample Questions (Q61-Q66):

NEW QUESTION # 61
Which of the following statements is appropriate to include in a high-quality internal audit engagement communication?

A. 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.
B. 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.
C. 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.

Answer: C

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 2420 - Quality of Communications: Reports should be accurate, objective, clear, concise, constructive, and complete.
* Findings must be presented factually and free from assumptions or bias.
* Reasoning:
* Option A is correct because it presents the purpose, timing, and findings in a clear and professional manner, allowing management to take informed action.
* Option B lacks balance and shifts responsibility for identifying root causes to management without actionable recommendations.
* Option C includes a biased assumption, undermining the report's objectivity and professionalism.
* Impact of Quality Communication:
* High-quality communications support decision-making by presenting findings and recommendations constructively.

NEW QUESTION # 62
Which of the following would be considered out of scope for a purchasing process audit engagement?

A. Matching goods received to requisitions
B. Authorization of requisitions
C. Control of goods

Answer: C

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Control of Goods: The control of goods is generally considered part of inventory management or logistics, not the purchasing process. The purchasing process typically ends with the receipt of goods or services and ensuring appropriate payments.
* Other Options:
* Authorization of Requisitions: Within scope, as it is directly related to the initiation of the purchasing process.
* Matching Goods Received to Requisitions: Part of the purchasing process audit scope to ensure accurate and legitimate transactions.
Thus, the correct answer is B. Control of Goods.

NEW QUESTION # 63
An internal auditor is conducting a human resources audit engagement. Which of the following observations would increase the probability of fraud?

A. Vague job descriptions.
B. Poor interview skills.
C. Lack of background checks.

Answer: C

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Fraud Risk Factors:
* Lack of proper vetting processes, such as background checks, significantly increases the likelihood of hiring individuals who may pose a fraud risk.
* Reasoning:
* Option B is correct because failing to conduct background checks creates opportunities for hiring individuals with a history of unethical behavior, increasing fraud risk.
* Option A (vague job descriptions) may lead to inefficiencies or unclear expectations but does not directly relate to fraud risk.
* Option C (poor interview skills) might affect hiring quality but does not increase fraud probability.
* Best Practice:
* Conducting thorough background checks is a critical control to reduce fraud risk in human resources processes.

NEW QUESTION # 64
Management requested that the chief audit executive (CAE) include an audit of the organization's health and safety program in next year's annual audit plan. However, the internal audit activity has no expertise in this area. Which of the following would be the most appropriate actions for the CAE?

A. Work with an internal subject matter expert to complete the audit.
B. With management's agreement, amend the audit scope so that specialized expertise is not needed.
C. Accept the request, provided management has conducted a thorough risk assessment prior to the engagement to help guide the audit.

Answer: A

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 1210 - Proficiency: The internal audit activity must possess or obtain the knowledge, skills, and competencies needed to perform its responsibilities effectively.
* If internal expertise is lacking, external resources or subject matter experts should be engaged.
* Reasoning:
* Option A is correct because collaborating with an internal expert ensures that the audit is performed competently while addressing the health and safety risks comprehensively.
* Option B (amending the scope) avoids addressing critical risks, which may undermine the value of the audit.
* Option C (relying on management's risk assessment) is inappropriate, as the internal audit function must independently evaluate the area.
* Mitigating Lack of Expertise:
* Leveraging subject matter experts ensures compliance with professional standards and the integrity of the audit process.

NEW QUESTION # 65
Which of the following creates an opportunity for an employee to commit fraud?

A. The need for money to pay personal medical bills
B. Unfair compensation practices
C. Lack of adequate internal controls

Answer: C

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Opportunity: In the Fraud Triangle, "opportunity" refers to the ability to commit fraud due to weaknesses in internal controls, such as poor segregation of duties, lack of oversight, or inadequate monitoring systems. These factors are directly within the organization's control to address.

NEW QUESTION # 66
......

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Hot IIA-IAP Dumps Free Download | Authoritative IIA-IAP Questions and Updated Reliable Internal Audit Practitioner Braindumps

Quiz IIA - IIA-IAP –High Pass-Rate Dumps Free Download

IIA Internal Audit Practitioner Sample Questions (Q61-Q66):

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