Free IIA IIA-IAP Exam Questions

Become IIA Certified with updated IIA-IAP exam questions and correct answers

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Total 1102 Questions | Updated On: Aug 11, 2026

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Question 1

Red flags are conditions that indicate a higher likelihood of fraud. Which of the following is not considered a red flag?

A : The assignment of responsibility and accountability in the accounts receivable department is not clear.

B : An individual has held the same cash-handling job for an extended period without any rotation of duties.

C : Management has delegated the authority to make purchases under a certain value to subordinates.

D : An individual handling marketable securities is responsible for making the purchases, recording the purchases, and reporting any discrepancies and gains/losses to senior management.

Answer: C

Question 2

Which of the following is a purpose of an embedded audit module?

A : It enables continuous monitoring of transaction processing.

B : It identifies program code that may have been inserted for unauthorized purposes.

C : It verifies the correctness of account balances on a master file.

Answer: A

Question 3

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 : Approved engagement work program.

C : Post-engagement survey of management of the audited area.

Answer: B

Question 4

Which of the following risk factors is most subjective?

A : Prior audit findings.

B : Competency of operating management.

C : Size of the unit being audited.

D : Changes in staff, systems, or the environment.

Answer: B

Question 5

The chief audit executive is reviewing the workpapers produced by an internal auditor during a fraud investigation. Among the items contained in the workpapers is a description of an item of physical information. Which of the following is the most probable source of this item of information?

A : Computing variances.

B : Interviewing people.

C : Examining records.

D : Observing conditions.

Answer: D

Page: 1 / 221

Total 1102 Questions | Updated On: Aug 11, 2026

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