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2025 Latest 100% Exam Passing Ratio - IAA-IAP Dumps PDF [Q30-Q47]

2025 Latest 100% Exam Passing Ratio - IAA-IAP Dumps PDF

Pass Exam With Full Sureness - IAA-IAP Dumps with 100 Questions

QUESTION 30
Which of the following best demonstrates that appropriate and sufficient resources were allocated to an audit engagement to achieve its objectives?

Staff skills audit.

Approved engagement work program.

Post-engagement survey of management of the audited area.

QUESTION 31
Which of the following conditions involving the chief audit executive (CAE) is most likely to impair the independence of the internal audit activity?

The CAE regularly attends and participates in critical executive management meetings for the organization.

The CAE has direct access to records, personnel, and physical properties throughout the organization.

The CAE reports directly to the controller for the organization, and the internal audit activity resides in the office of the comptroller.

QUESTION 32
Which of the following situations is most likely to require a compliance engagement from the internal audit activity?

An organization must restate its financial statements due to an error in fixed asset valuation.

An organization is preparing to launch an enhanced service for its online customer information system.

An organization is subject to newly imposed industry health and safety regulations.

QUESTION 33
Operational management has asked the internal auditor for recommendations regarding an ineffective process. According to IIA guidance, which of the following would be the auditor’s most appropriate response?

Refrain from providing recommendations to preserve audit independence.

Agree to offer recommendations based on observations and conclusions.

Explain that only management should recommend and implement the corrective action.

QUESTION 34
Which of the following would best support the overall risk assessment?

Policies and process procedures provided by the manager of the process under review.

Process narratives and process maps with descriptions of risks and controls.

Detailed organizational charts to understand roles and reporting lines in the area under review.

QUESTION 35
Which of the following best describes an audit engagement in which the objective is to appraise the economy of an oil shale mining process and the degree to which yearly production targets are being achieved?

Due diligence

Business process improvement

Operational

QUESTION 36
Which of the following best explains why internal auditors should identify risk scenarios during a risk assessment of the area being audited?

To determine what would prevent the achievement of objectives in the area being audited.

To determine whether established controls are operating effectively to mitigate critical risks.

To evaluate the adequacy of management’s risk management process in the area being audited.

QUESTION 37
Which of the following interview techniques would be most effective in a fraud investigation?

The interviewer should be positioned between the suspect and the door to discourage the suspect from leaving during the interview.

The interviewer should allow the suspect to use his own words and only interrupt if a point requires clarification.

The interviewer should ensure that only the interviewer and the suspect are present for the interview.

QUESTION 38
As part of the annual training plan, the chief audit executive (CAE) has arranged for a local audit training institute to provide an in-house training session for the internal audit team. Which of the following best explains the primary purpose of this approach?

It helps the internal auditors maintain a required level of proficiency.

It helps the internal audit activity attain an appropriate organizational status to maintain independence.

It assists the CAE with assessing the results of the internal audit team’s development efforts.

QUESTION 39
An internal auditor discovers a number of control concerns while reviewing the organization’s online payment system and decides to interview key employees involved in the system’s design and maintenance. Which of the following best describes the results of those interviews?

Testimonial evidence.

Documentary evidence.

Analytical evidence.

QUESTION 40
According to IIA guidance, which of the following is the primary criterion that should determine the extent of supervision required for an audit engagement?

The number of hours approved by the board for that engagement.

The proficiency of the internal auditors and the complexity of the engagement.

Whether the engagement involves possible violations of laws and governmental regulations.

QUESTION 41
Which of the following statements is true regarding engagement status meetings?

They are expected to enhance the relationships between the internal audit activity and management of the area under review.

They mainly involve one-way communication from the internal auditor to management of the area under review.

They should involve the chief audit executive and senior management.

QUESTION 42
Which of the following elements are typically included in an engagement work program?

Planning, objectives, and preliminary risk assessments

Fieldwork, analytical testing, and resources

Opinions and final engagement communications

QUESTION 43
Which of the following is most likely to be considered an internal audit assurance service?

Process design engagement.

Facilitation engagement.

Compliance engagement.

QUESTION 44
According to IIA guidance, which of the following are commonly standardized workpaper elements?

Workpapers should include a uniform cross-referencing system

Workpapers should be completed in an electronic format only

Workpapers should be supported by inclusion of original documentation

QUESTION 45
Which of the following is an advantage of communicating audit observations as they are identified?

The auditor may receive additional pertinent documentation or other relevant information

The auditor may not need to communicate the final results of the audit to the board

The auditor may be able to plan more efficiently next year’s audit

QUESTION 46
Which of the following conditions would threaten an internal auditor’s objectivity?

Providing assurance services over the activity where the internal auditor was employed 10 months prior.

Using knowledge that the internal auditor gained in his previous position to update systems and controls descriptions.

Providing consulting services over the activity where the internal auditor was employed two years prior.

QUESTION 47
Which of the following analytical procedures would be most effective for an internal auditor to examine changes in performance over time?

Trend analysis

Ratio analysis

Analysis of common size financial statements

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