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: Jun 15, 2026

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Question 1

One of the primary roles of an audit program is to:

A : c) Provide for a standardized approach to the audit engagement.

B : d) Delineate the audit risk accepted by the auditor.

C : b) Document an auditor's understanding of the internal control system.

D : a) Serve as a tool for planning, directing, and controlling audit work.

Answer: D

Question 2

According to the IIA Standards, reported audit findings emerge by a process of comparing “what should be” with “what is.” In determining “what should be” during an audit of a company's treasury function, which of the following would be the least desirable criteria against which to judge current operations?

A : B.Company policies and procedures delegating authority and assigning responsibilities.

B : C.Finance textbook illustrations of generally accepted good treasury function practices.

C : D.Codification of best practices of the treasury function in relevant industries.

D : A.The operations of the treasury function as documented during the last audit.

Answer: D

Question 3

Which of the following procedures would be most helpful in providing additional evidence when an auditor suspects that an unidentified employee is submitting and approving invoices for payment?

A : A.Use generalized audit software to identify invoices from vendors with post office box numbers or other unusual features. Select a sample of those invoices and trace to supporting documents such as receiving reports.

B : C.Select a sample of receiving reports representative of the period under investigation and trace to approved payment. Note any items not properly processed.

C : B.Select a sample of payments made during the year and investigate each one for approval.

D : D.Select a sample of invoices paid during the past month and trace them to appropriate vendor accounts.

Answer: A

Question 4

Which of the following documents should the internal auditor examine to determine whether only authorized purchases are being accepted by the receiving department?

A : D.Policies and procedures for the receiving function.

B : B.A copy of the purchase order.

C : A.A bill of lading.

D : C.An invoice.

Answer: B

Question 5

Which of the following internal control weaknesses would an auditor most likely detect while reviewing a flowchart that depicts the purchasing function of an organization?

A : Payments to suppliers are made before goods are received.

B : Payments for goods received have not been authorized at the appropriate level.

C : Purchasing policies have not been updated.

D : The organization is not taking advantage of quantity discounts available from its suppliers.

Answer: A

Page: 1 / 221

Total 1102 Questions | Updated On: Jun 15, 2026

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