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: Apr 25, 2025

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Question 1

Internal audit management should annually perform which of the following?

A : Skill gap assessment

B : Education gap assessment

C : Talent gap assessment

D : Competency gap assessment

Answer: D

Question 2

In comparing the current ratios of two companies, why is it invalid to assume that the company with the higher current ratio is the better company?

A : A high current ratio may indicate inefficient use of various assets and liabilities.

B : The current ratio includes assets other than cash.

C : The two companies may define working capital in different terms.

D : A high current ratio may indicate inadequate inventory on hand.

Answer: A

Question 3

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 4

Which of the following would be a common benefit of using generalized audit software?

A : It enables internal auditors to perform tests on data with the assistance of the organization's IT personnel.

B : It enables internal auditors to analyze very large quantities of data.

C : It eliminates the need to obtain access privileges to relevant and reliable data.

Answer: B

Question 5

The top three sales representatives for a company consistently include non-allowable charges on their expense reports. Line management is reluctant to deny reimbursement of the charges for fear of losing the sales representatives. This situation has the greatest negative impact on which of the following internal control components?

A : Monitoring.

B : Control environment.

C : Information and communication.

D : Control activities.

Answer: B

Page: 1 / 221

Total 1102 Questions | Updated On: Apr 25, 2025

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