IIA-IAP SIMULATED TEST | GUARANTEED IIA-IAP PASSING

IIA-IAP Simulated Test | Guaranteed IIA-IAP Passing

IIA-IAP Simulated Test | Guaranteed IIA-IAP Passing

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Tags: IIA-IAP Simulated Test, Guaranteed IIA-IAP Passing, Reliable IIA-IAP Exam Pdf, New IIA-IAP Dumps Questions, IIA-IAP New Exam Materials

To do this you just need to pass IIA-IAP exam, which is quite challenging and demands thorough Internal Audit Practitioner (IIA-IAP) exam preparation. For the complete, comprehensive and quick IIA-IAP Exam Preparation, the ValidBraindumps IIA-IAP Dumps questions are ideal. You should not ignore it and must try ValidBraindumps IIA-IAP exam questions for preparation today.

IIA-IAP Certification Exam covers a range of topics, including internal audit basics, risk assessment, audit planning and reporting, and governance, risk management, and control. IIA-IAP exam is computer-based and consists of 125 multiple-choice questions. Candidates have two hours to complete the exam, and a passing score is 70%. IIA-IAP Exam is available in multiple languages and is administered at Prometric testing centers worldwide. Earning the IIA-IAP Certification demonstrates to employers and colleagues that an individual has a solid understanding of the fundamentals of internal auditing, and is committed to ongoing professional development.

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Guaranteed IIA-IAP Passing & Reliable IIA-IAP Exam Pdf

IIA-IAP PDF questions can be read on various smart devices such as laptops, tablets, and smartphones. IIA IIA-IAP PDF format is easier to download and use. Our IIA IIA-IAP exam questions in PDF file can be printed, making it easy to study via a hard copy. To be recognized by IIA IIA-IAP candidates must pass the Internal Audit Practitioner (IIA-IAP) exam and the registration fee for the exam is high, between $100 and $1000. Therefore, candidates will never risk their precious time and money.

IIA Internal Audit Practitioner Sample Questions (Q12-Q17):

NEW QUESTION # 12
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 what would prevent the achievement of objectives in the area being audited.
  • C. To determine whether established controls are operating effectively to mitigate critical risks.

Answer: B

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 # 13
An internal auditor was gathering information regarding the receiving process and decided that a narrative memorandum was the best way to document the process. Which of the following explanations best supports the auditor's decision?

  • A. The department has comprehensive manuals
  • B. The audit engagement is not considering efficiency
  • C. The process is simple and does not need a visual depiction

Answer: C

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Narrative Memorandum: A narrative is most suitable for documenting simple processes that do not require detailed visuals or flowcharts for clarity. If the process can be effectively described in writing, a narrative is appropriate.


NEW QUESTION # 14
Which of the following is an example of criteria in an engagement communication?

  • A. As a result of inadequate business conduct training, 16% of the executive team was unaware of their obligation to report potential conflicts of interest.
  • B. Annual business conduct training was not performed over the past two years due to inadequate operating budgets.
  • C. The audit test was designed to evaluate compliance with the organization's policies and procedures related to business conduct and ethics.

Answer: C

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to Criteria:
* Definition: Criteria are the standards, policies, or benchmarks used to evaluate the subject matter during an audit.
* IIA Standard 2410 - Criteria for Communicating: Audit reports should clearly state criteria to ensure findings are relevant and actionable.
* Reasoning:
* Option B is correct because it references the organization's policies and procedures, which serve as the criteria for evaluating compliance.
* Option A describes the condition (what was observed), not the criteria.
* Option C describes the effect (the impact of the observed condition).
* Importance of Criteria in Audit Reporting:
* Including criteria provides a basis for comparison, helping stakeholders understand why a finding is significant and how it deviates from expectations.


NEW QUESTION # 15
An internal auditor is conducting a human resources audit engagement. Which of the following observations would increase the probability of fraud?

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

Answer: A

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 # 16
The internal audit activity has been tasked with evaluating the effectiveness of the organization's risk management processes. Which of the following activities are appropriate and relevant to consider in the overall evaluation?

  • A. Evaluation of risk management effectiveness obtained during multiple audit engagements over the past year
  • B. An external audit of the organization's corporate social responsibility and sustainability management, including communication of findings to management and the board
  • C. The chief audit executive's observations of the organization's finance committee

Answer: A

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Ongoing Risk Evaluation: Insights gathered from multiple audit engagements over the past year provide a broad and detailed perspective on the effectiveness of risk management across the organization.


NEW QUESTION # 17
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