IIA-IAP RELIABLE BRAINDUMPS QUESTIONS & LATEST IIA-IAP EXAM ONLINE

IIA-IAP Reliable Braindumps Questions & Latest IIA-IAP Exam Online

IIA-IAP Reliable Braindumps Questions & Latest IIA-IAP Exam Online

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Taking practice exams teaches you time management so you can pass the Internal Audit Practitioner (IIA-IAP) exam. ITCertMagic's IIA-IAP practice exam makes an image of a real-based examination which is helpful for you to not feel much pressure when you are giving the final examination. You can give unlimited practice tests and improve yourself daily to achieve your desired destination.

IIA-IAP (Internal Audit Practitioner) exam is a certification offered by the Institute of Internal Auditors (IIA). Internal Audit Practitioner certification is specifically designed for individuals who are new to the field of internal auditing and are looking to establish a strong foundation of knowledge and skills. The IIA-IAP Exam covers a wide range of topics related to internal auditing, including the principles of internal auditing, risk management, governance, and control.

IIA-IAP certification program provides a comprehensive understanding of the essential principles and practices of internal auditing. The program includes self-study materials, online courses, and classroom training. Candidates can choose the format that best suits their learning style and schedule. The program also includes a practice exam to help candidates prepare for the actual exam. The practice exam provides an opportunity for candidates to assess their readiness and identify areas where they need to improve.

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Valid IIA-IAP Reliable Braindumps Questions for Passing IIA-IAP Exam Preparation

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IIA Internal Audit Practitioner Sample Questions (Q33-Q38):

NEW QUESTION # 33
The chief audit executive scheduled an exit meeting to discuss conclusions and recommendations with management before issuing the final engagement communication. Which of the following describes the primary reason that the exit meeting should be documented?

  • A. The Standards require that the internal auditor document exit meetings
  • B. The results of the discussion form part of the internal auditor's performance review
  • C. The information may be needed if a disagreement about the content arises

Answer: C

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Exit Meetings: The purpose of an exit meeting is to ensure that management understands and agrees (or documents any disagreements) with the audit findings, conclusions, and recommendations. Proper documentation ensures that there is a record of the discussion, which can be referred to later if disputes arise about the content.


NEW QUESTION # 34
Which of the following is the most appropriate audit objective?

  • A. Assess compliance with human resources hiring and compensation policies.
  • B. Analyze the turnover rates in mining and production subsidiaries.
  • C. Evaluate common practices of hiring via interviews with responsible personnel.

Answer: A

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 2210 - Engagement Objectives: Audit objectives must align with the engagement scope and focus on evaluating compliance, efficiency, and effectiveness.
* Reasoning:
* Option C is correct because assessing compliance with HR policies is a specific, measurable, and relevant objective aligned with internal audit's role in evaluating governance and control processes.
* Option A (analyzing turnover rates) is more investigative and does not align with assessing processes or compliance.
* Option B (evaluating common practices) is vague and lacks a clear link to controls, policies, or risks.
* Impact of Clear Objectives:
* Well-defined objectives, like compliance assessment, ensure the audit delivers actionable insights and adds value to the organization.


NEW QUESTION # 35
A newly hired internal auditor has been asked to examine the sales of a specific product over the last four years. Which of the following analytical review techniques should the auditor employ?

  • A. External benchmarking.
  • B. Ratio analysis.
  • C. Trend analysis.

Answer: C

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to Analytical Techniques:
* Trend Analysis involves examining data over a period to identify patterns, shifts, or anomalies.
* This technique is appropriate for longitudinal data like sales over four years.
* Reasoning:
* Option B (Trend analysis) is correct as it helps the auditor analyze sales performance over time and identify patterns or deviations.
* Option A (Ratio analysis) compares related metrics, such as profitability or liquidity, but does not focus on changes over time.
* Option C (External benchmarking) involves comparing performance to external standards or competitors, not internal historical data.
* Application in Audit:
* Trend analysis allows the auditor to assess growth, seasonal patterns, or irregularities in sales data, providing actionable insights.


NEW QUESTION # 36
According to IIA guidance, which one of the following hiring strategies is most appropriate to fill internal audit positions?

  • A. Recruit candidates to fulfill the skills requirement of the internal audit activity
  • B. Hire the required number of internal auditors to accomplish the audit plan
  • C. Assess each candidate's competency for an upcoming audit

Answer: A

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Skills-Based Recruitment: Internal audit activities require diverse skills to handle complex audits.
Recruiting candidates based on the skills needed ensures the internal audit activity can fulfill its mandate effectively.


NEW QUESTION # 37
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 determining audit engagement objectives.
  • B. After allocating resources.
  • 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 # 38
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