IIA-IAP EXAM ACTUAL TESTS - 2025 FIRST-GRADE IIA-IAP: INTERNAL AUDIT PRACTITIONER RELATED EXAMS

IIA-IAP Exam Actual Tests - 2025 First-grade IIA-IAP: Internal Audit Practitioner Related Exams

IIA-IAP Exam Actual Tests - 2025 First-grade IIA-IAP: Internal Audit Practitioner Related Exams

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IIA Internal Audit Practitioner Sample Questions (Q52-Q57):

NEW QUESTION # 52
During a procurement process consulting engagement, the internal auditors reviewed contracts for the hospital's supply of medicine. Which of the following would the internal auditors most likely recommend to improve the effectiveness of the procurement process?

  • A. Only qualified procurement professionals should manage the procurement process.
  • B. The procurement process should begin with clearly specified needs.
  • C. The procurement process must be comprehensively documented.

Answer: B

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to Best Practices in Procurement:
* Clearly specifying needs at the outset ensures that procurement decisions align with organizational objectives and operational requirements.
* Reasoning:
* Option A is correct because specifying needs at the beginning helps avoid over-purchasing, under-purchasing, or acquiring unsuitable items, thus improving the overall effectiveness of the procurement process.
* Option B (comprehensive documentation) is important for transparency and compliance but does not directly improve the effectiveness of procurement outcomes.
* Option C (qualified professionals) ensures competence but is secondary to having clear, specified needs driving the process.
* Impact of Clear Needs Specification:
* It ensures the procurement process delivers value, meets quality requirements, and aligns with operational demands.


NEW QUESTION # 53
Which of the following best describes the purpose of a detailed engagement risk assessment?

  • A. To ensure that all risks identified during the engagement planning process are addressed during the audit.
  • B. To prioritize risks to the activity's objectives, according to the likelihood of occurrence.
  • C. To consider significant risks to the activity's objectives and the means by which the potential impact of risk is kept to an acceptable level.

Answer: C

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to Engagement Risk Assessment:
* Definition: Engagement risk assessment evaluates specific risks relevant to the engagement and identifies controls or mitigations.
* Standard 2210.A1: Internal auditors must consider significant risks to objectives, focusing on their likelihood and impact.
* Reasoning:
* Option C is correct because it aligns with assessing significant risks and ensuring they are mitigated to acceptable levels.
* Option A (ensuring all risks are addressed) is impractical since auditors prioritize significant risks within resource constraints.
* Option B focuses on prioritizing risks but does not encompass the broader purpose of addressing their impact or mitigation.
* Importance of Risk Assessment:
* It ensures that the audit focuses on high-impact risks, aligning resources with the organization's risk management framework.


NEW QUESTION # 54
An internal auditor was assigned to a payroll process audit engagement. At which stage of engagement planning would the auditor conduct a risk assessment?

  • A. After allocating resources.
  • B. After determining audit engagement objectives.
  • C. After documenting the process.

Answer: C

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Risk Assessment in Planning: Conducting a risk assessment typically follows documentation of the process, as understanding the process provides the necessary context for identifying and evaluating risks.


NEW QUESTION # 55
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 # 56
Which of the following consulting engagements leverages an internal auditor's risk and control knowledge to help the organization keep abreast of emerging risks?

  • A. Facilitating organizational control self-assessments
  • B. Advising on control designs
  • C. Assisting with the development of policies and procedures

Answer: A

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Facilitating Organizational Control Self-Assessments (CSA): This engagement helps the organization identify, evaluate, and monitor risks and controls. By facilitating CSAs, internal auditors use their expertise to highlight emerging risks and ensure that the organization proactively addresses them.


NEW QUESTION # 57
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