IIA-IAP EXAM DUMPS.ZIP: INTERNAL AUDIT PRACTITIONER - THE BEST IIA NEW IIA-IAP EXAM FORMAT

IIA-IAP Exam Dumps.zip: Internal Audit Practitioner - The Best IIA New IIA-IAP Exam Format

IIA-IAP Exam Dumps.zip: Internal Audit Practitioner - The Best IIA New IIA-IAP Exam Format

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IIA Internal Audit Practitioner Sample Questions (Q81-Q86):

NEW QUESTION # 81
Which of the following interview techniques would be most effective in a fraud investigation?

  • A. The interviewer should ensure that only the interviewer and the suspect are present for the interview.
  • B. The interviewer should allow the suspect to use his own words and only interrupt if a point requires clarification.
  • C. The interviewer should be positioned between the suspect and the door to discourage the suspect from leaving during the interview.

Answer: B

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Allowing the Suspect to Use Their Own Words: Encouraging the suspect to speak freely provides the investigator with unfiltered insights and may reveal inconsistencies or useful details. This technique also minimizes the risk of appearing coercive or intimidating.


NEW QUESTION # 82
As part of the annual training plan, the chief audit executive (CAE) has arranged for a local audit training institute to provide an in-house training session for the internal audit team. Which of the following best explains the primary purpose of this approach?

  • A. It helps the internal audit activity attain an appropriate organizational status to maintain independence.
  • B. It assists the CAE with assessing the results of the internal audit team's development efforts.
  • C. It helps the internal auditors maintain a required level of proficiency.

Answer: C

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 1210 - Proficiency: Internal auditors must possess the knowledge, skills, and competencies needed to perform their responsibilities.
* Continuous professional development ensures the internal audit team maintains proficiency.
* Reasoning:
* Option A is correct because training enhances the skills and proficiency of the internal audit team, aligning with the requirement to maintain technical and professional competence.
* Option B (organizational status for independence) relates to governance and reporting relationships, not training.
* Option C (assessing development efforts) is a secondary benefit and not the primary goal of providing training.
* Impact of Training:
* A well-trained audit team improves the quality of engagements, ensures adherence to professional standards, and supports the overall effectiveness of the internal audit activity.


NEW QUESTION # 83
Which of the following best explains why internal auditors should identify risk scenarios during a risk assessment of the area being audited?

  • A. To evaluate the adequacy of management's risk management process in the area being audited.
  • B. To determine whether established controls are operating effectively to mitigate critical risks.
  • C. To determine what would prevent the achievement of objectives in the area being audited.

Answer: C

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 2120 - Risk Management: Internal audit must assess and evaluate the risk management processes of the organization.
* Identifying risk scenarios supports engagement objectives by determining vulnerabilities and threats to process objectives.
* Reasoning:
* Option A is correct because risk scenarios provide insights into potential events or conditions that could hinder achieving objectives. This allows auditors to assess risk exposure and evaluate controls effectively.
* Option B (control effectiveness) is a subsequent step in the audit process but does not explain the need for identifying risk scenarios.
* Option C focuses on evaluating management's process, which is broader than identifying specific risks for the engagement.
* Practical Application:
* Risk scenarios guide auditors in tailoring their approach to address areas of greatest vulnerability.


NEW QUESTION # 84
According to the IIA's Code of Ethics, which of the following best describes the conduct of an internal auditor who demonstrates the principle of competency?

  • A. The auditor does not accept anything that may impair or be presumed to impair her professional judgment
  • B. The auditor continually improves her proficiency and the effectiveness and quality of her services
  • C. The auditor is prudent in the use and protection of information acquired in the course of her work

Answer: B

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Competency Principle: According to the IIA Code of Ethics, internal auditors must apply the knowledge, skills, and experience needed to perform their duties effectively.
* Key Characteristics: Continuous improvement in proficiency, quality of services, and effectiveness directly align with the principle of competency.


NEW QUESTION # 85
A senior internal auditor is using a risk and control matrix to facilitate an internal control assessment of the fixed asset accounting process. Which of the following activities would aid the auditor in determining inputs for the risk and control matrix?

  • A. Interviews with fixed asset management, control process walkthroughs, and internal control questionnaires.
  • B. Reviewing the results of control effectiveness testing of the fixed asset capitalization subprocess.
  • C. Management's cost-benefit analysis of internal control alternatives considered in the design of the fixed asset accounting process.

Answer: A

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Gathering Inputs for the Matrix: Interviews, walkthroughs, and questionnaires are primary tools for gathering detailed insights into risks, controls, and processes. These activities provide the information necessary to populate a risk and control matrix effectively.


NEW QUESTION # 86
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