Free IIA-IAP Exam Questions - Easiest Way for Success

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Total 1002 Questions | Updated On: Sep 11, 2024

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Question 1

Which of the following is an indicator of increased risk of fraud? The controller

A : Takes no vacations and has refused promotion to vice president of finance.

B : Takes no vacations and has just accepted a promotion to vice president of finance.

C : Takes all vacations and has just accepted a promotion to vice president of finance.

D : Takes all vacations and has refused promotion to vice president of finance.

Answer: A

Question 2

When an internal auditor uses monetary-unit statistical sampling to examine the total value of invoices, each invoice

A : C.Has an unknown probability of being selected.

B : D.Has a probability proportional to its monetary value of being selected.

C : A.Has an equal probability of being selected.

D : B.Can be represented by no more than one monetary unit.

Answer: B

Question 3

Objectivity is most likely impaired by an internal auditor's

A : Review of a purchasing agent's contract drafts prior to their execution.

B : Reduction of the scope of an engagement due to budget restrictions.

C : Participation on a task force that recommends standards for control of a new distribution system.

D : Continuation on an engagement at a division for which (s)he will soon be responsible as the result of a promotion

Answer: D

Question 4

The primary purpose for the chief audit executive's communication of the internal audit activity's plans and resource requirements to senior management and the board is to

A : Indicate future internal audit staffing needs

B : Identify internal audit engagement scope limitations

C : Highlight the internal audit activity's view of significant risk areas

D : Ensure that the work of the internal audit activity supports the organization's objectives

Answer: D

Question 5

The scope of value-for-money (VFM) audits includes which of the following elements?i. Expertiseii. Economyiii. Efficiencyiv. Effectiveness

A : B.I and II

B : D.I, II, III, and IV

C : A.I only

D : C.III and IV

Answer: B

Page: 1 / 201

Total 1002 Questions | Updated On: Sep 11, 2024

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