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IIA-IAP Certification Exam is an important credential for individuals who are interested in a career in internal audit. IIA-IAP exam covers a wide range of topics related to internal audit and is recognized globally as a mark of excellence in the field. Candidates who pass the exam are awarded the IIA-IAP Certification, which demonstrates to employers that the candidate has a solid understanding of internal audit principles and practices.

IIA-IAP (Internal Audit Practitioner) exam is a globally recognized certification that assesses the knowledge and skills of individuals who are new to the internal audit profession. IIA-IAP Exam is designed to test the fundamental concepts and principles of internal auditing and is an excellent starting point for individuals who aspire to become internal auditors.

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To be eligible for the IIA-IAP Certification Exam, candidates must have completed at least one year of work experience in internal auditing or a related field. IIA-IAP exam itself consists of 100 multiple-choice questions that cover a range of topics related to internal auditing, including risk management, governance, internal control, and audit engagement.

IIA Internal Audit Practitioner Sample Questions (Q70-Q75):

NEW QUESTION # 70
Which of the following best demonstrates that appropriate and sufficient resources were allocated to an audit engagement to achieve its objectives?

A. Staff skills audit.
B. Post-engagement survey of management of the audited area.
C. Approved engagement work program.

Answer: C

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 2200 - Engagement Planning: The engagement work program outlines the resources, timelines, and procedures necessary to achieve the engagement's objectives.
* The work program must be approved to ensure alignment with objectives and resource requirements.
* Reasoning:
* Option B is correct because an approved engagement work program confirms that the scope, procedures, and resources were planned and allocated effectively.
* Option A (staff skills audit) evaluates team competencies but does not confirm specific resource allocation for an engagement.
* Option C (post-engagement survey) evaluates the outcome of the audit but does not provide evidence of initial resource planning.
* Significance of the Work Program:
* The work program ensures that the engagement is structured to meet objectives efficiently, with adequate and relevant resources.

NEW QUESTION # 71
An internal auditor is planning a business continuity audit engagement at a remote manufacturing plant. During planning interviews, the plant manager stated that the local Environmental, Health, and Safety (EHS) Department, which reports to the plant manager, had completed a similar review six months ago. The EHS review did not find any significant weaknesses. How should the internal auditor consider the EHS review results in the current audit engagement planning?

A. Evaluate the objectivity and competency of the EHS reviewers and their work to determine whether their review results may be relied upon.
B. Recommend canceling the audit engagement, as it would be a duplication of effort to revisit the same process already reviewed by EHS.
C. Ignore the EHS review results, as the department is not a reliable source of information due to its lack of objectivity and independence.

Answer: A

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 1220 - Due Professional Care: Internal auditors must consider the reliability of other assurance providers.
* Standard 2050 - Coordination and Reliance: Internal auditors may rely on the work of other assurance providers if their objectivity, independence, and competency are assessed and deemed adequate.
* Why Evaluate EHS Work:
* The EHS review results can be useful if the review process was thorough, objective, and performed by competent individuals.
* Dismissing their results without evaluation (Option A) could lead to inefficiencies or redundant work.
* Canceling the engagement entirely (Option B) ignores the internal audit's responsibility for independent assurance.
* Audit Planning Impact:
* By leveraging the EHS review where appropriate, the internal auditor can focus resources on other areas not covered or on verifying key findings.

NEW QUESTION # 72
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. The audit test was designed to evaluate compliance with the organization's policies and procedures related to business conduct and ethics.
C. Annual business conduct training was not performed over the past two years due to inadequate operating budgets.

Answer: B

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 # 73
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. An external audit of the organization's corporate social responsibility and sustainability management, including communication of findings to management and the board
B. Evaluation of risk management effectiveness obtained during multiple audit engagements over the past year
C. The chief audit executive's observations of the organization's finance committee

Answer: B

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 # 74
Which of the following elements are typically included in an engagement work program?

A. Fieldwork, analytical testing, and resources
B. Opinions and final engagement communications
C. Planning, objectives, and preliminary risk assessments

Answer: C

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Engagement Work Program: A structured plan detailing the steps to achieve engagement objectives.
The program typically includes planning activities, objectives, and preliminary risk assessments to guide the audit.

NEW QUESTION # 75
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