100% PASS QUIZ 2025 HIGH PASS-RATE IIA-IAP: INTERNAL AUDIT PRACTITIONER EXAMS DUMPS

100% Pass Quiz 2025 High Pass-Rate IIA-IAP: Internal Audit Practitioner Exams Dumps

100% Pass Quiz 2025 High Pass-Rate IIA-IAP: Internal Audit Practitioner Exams Dumps

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IIA-IAP exam is an entry-level certification that tests fundamental knowledge and skills in internal auditing. IIA-IAP exam is designed for individuals who are new to the profession and want to gain a broad understanding of internal auditing. Obtaining the IIA-IAP Certification can demonstrate a strong foundation in internal audit principles and practices, and can be a stepping stone to more advanced certifications.

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

NEW QUESTION # 52
An internal auditor discovers that a vendor had submitted invoices and was paid for services not rendered. Which of the following controls is most appropriate to address this type of issue?

  • A. The supervisor should verify that the amount paid agrees with the contracted amount.
  • B. The supervisor should observe the input of invoices into the payment system.
  • C. The accounts payable clerk should compare the acknowledgment of goods and services to the invoice.

Answer: C

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 2130 - Control: Internal audit must assess whether controls ensure compliance and prevent fraud.
* Reasoning:
* Option A directly addresses the root cause: payment for unrendered services. Requiring acknowledgment of receipt ensures only valid invoices are paid.
* Option B (observing invoice input) ensures data entry accuracy but does not address fraud.
* Option C (verifying amounts) ensures correct payments for legitimate invoices but does not prevent unauthorized payments.
* Best Practice:
* Verifying acknowledgment of services before payment is a preventive control, reducing fraud risk.


NEW QUESTION # 53
According to The IIA's Code of Ethics, which of the following best illustrates the principle of confidentiality?

  • A. The auditor declined to lead an audit of a department in which his nephew is the manager.
  • B. The auditor declined to delegate critical audit lead responsibilities to a new auditor.
  • C. The auditor refused to use information learned during an audit to diversify his financial portfolio.

Answer: C

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to the IIA Code of Ethics - Confidentiality:
* The principle of confidentiality requires internal auditors to respect and protect the value of information obtained during the course of their work and to avoid using it for personal gain.
* Reasoning:
* Option A is correct because refusing to use audit information for personal financial gain directly aligns with the principle of confidentiality.
* Option B relates to competency and professional judgment, not confidentiality.
* Option C pertains to avoiding conflicts of interest, which is an example of the principle of objectivity.
* Application of Confidentiality:
* Internal auditors must safeguard sensitive information and use it solely for legitimate audit purposes.


NEW QUESTION # 54
Which of the following best describes the knowledge, skills, and abilities that internal auditors should possess with regard to fraud?

  • A. Expertise in detecting and investigating fraud.
  • B. Sufficient knowledge to evaluate the risk of fraud.
  • C. Specialized skills for developing and implementing controls to prevent fraud.

Answer: B

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 1210.A2: Internal auditors must have sufficient knowledge to evaluate the risk of fraud and the manner in which it is managed by the organization.
* They are not expected to have the expertise of a fraud examiner or forensic investigator.
* Reasoning:
* Option B is correct because internal auditors need enough knowledge to assess fraud risks and provide assurance over controls designed to mitigate those risks.
* Option A overstates the requirement, as fraud detection and investigation require specialized expertise typically outside the scope of general internal auditing.
* Option C refers to control development, which is a management responsibility, not an internal audit role.
* Role of Internal Audit in Fraud:
* Auditors evaluate fraud risks and provide recommendations to improve controls, ensuring alignment with organizational risk management strategies.


NEW QUESTION # 55
Which of the following is an important consideration when providing quality audit communications?

  • A. Provide a fair and balanced assessment.
  • B. Demonstrate knowledge by using technical language.
  • C. Include as much detail as possible.

Answer: A

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 2420 - Quality of Communications: Audit communications must be accurate, objective, clear, concise, constructive, complete, and timely.
* A fair and balanced assessment ensures objectivity and builds credibility.
* Reasoning:
* Option B is correct because fair and balanced reporting reflects both positive and negative findings, maintaining the credibility and usefulness of the audit report.
* Option A (including as much detail as possible) risks overwhelming the audience and detracting from key messages.
* Option C (using technical language) can reduce clarity and accessibility for non-technical stakeholders.
* Importance of Balanced Reporting:
* Objective and balanced communications ensure that the audit report is actionable and supports informed decision-making by management and the board.


NEW QUESTION # 56
Which of the following internal auditor attributes benefits the most from continuous professional development?

  • A. Competency.
  • B. Objectivity.
  • C. Integrity.

Answer: A

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Competency: Continuous professional development ensures auditors maintain and enhance their knowledge, skills, and expertise, directly supporting their ability to perform engagements effectively.


NEW QUESTION # 57
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