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: Jul 28, 2025

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Question 1

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 2

An auditor for a bank noted a significant deficiency relating to access to cash in the bank's vault at one of the branch banks. Which of the following is the most satisfactory means of addressing this deficiency? The auditor should:

A : C.Discuss the deficiency with the branch manager only after the audit report is published.

B : B.Discuss the deficiency with the branch manager before drafting the written audit report. If the auditor and branch manager agree on corrective action, include both the deficiency and corrective action in the audit report.

C : D.Not discuss the deficiency with the branch manager before or after the audit report is published; discussion may dilute the impact of the written report.

D : A.Discuss the deficiency with the branch manager before drafting the written audit report. If the auditor and branch manager agree on corrective action and the action is initiated before the report is published, the deficiency need not be included in the report.

Answer: B

Question 3

What are the policies, procedures, and activities that are part of a control framework, designed to ensure that risks are contained within the established risk tolerances?

A : Governance process.

B : Risk management process.

C : Control processes.

D : Internal audit activities.

Answer: C

Question 4

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 5

In which of the following situations does the internal auditor potentially lack objectivity?

A : A payroll accounting employee assists an internal auditor in verifying the physical inventory of small motors.

B : An internal auditor recommends standards of control and performance measures for contracting with a service organization.

C : Four months after being transferred to the internal audit activity, a former purchasing assistant performs a review of internal controls over purchasing.

D : An internal auditor reviews the procedures for a new electronic data interchange connection for a customer before it is implemented.

Answer: C

Page: 1 / 221

Total 1102 Questions | Updated On: Jul 28, 2025

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