IIA IIA-IAP VCE FORMAT & RELIABLE IIA-IAP EXAM DUMPS

IIA IIA-IAP Vce Format & Reliable IIA-IAP Exam Dumps

IIA IIA-IAP Vce Format & Reliable IIA-IAP Exam Dumps

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Tags: IIA-IAP Vce Format, Reliable IIA-IAP Exam Dumps, IIA-IAP Free Download Pdf, IIA-IAP Latest Test Vce, IIA-IAP New Exam Braindumps

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Obtaining the IIA-IAP certification can provide several benefits for your career. It can help you stand out among your peers as a qualified and knowledgeable internal auditor. It can also increase your earning potential and open up opportunities for career advancement. Additionally, the IIA-IAP certification is recognized globally, which means that it can be useful for individuals who want to work in different countries or regions.

IIA-IAP exam is a certification exam offered by the Institute of Internal Auditors (IIA) for those who want to become certified internal auditors. The IIA-IAP Exam is an entry-level certification exam that is designed for those who are just starting their careers in internal auditing or for those who have been working in the field for less than two years. IIA-IAP exam covers a wide range of topics, including internal audit principles, practices, and methodologies, as well as risk management, governance, and ethics.

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IIA-IAP certification is an excellent way for entry-level internal auditors to gain recognition for their knowledge and skills. It is also a great way to enhance their career prospects and improve their earning potential. Internal Audit Practitioner certification is recognized globally, and it is highly valued by employers in the industry. The IIA-IAP Certification is an excellent stepping stone for internal auditors who wish to pursue more advanced certifications, such as the Certified Internal Auditor (CIA) certification.

IIA Internal Audit Practitioner Sample Questions (Q19-Q24):

NEW QUESTION # 19
The chief audit executive scheduled an exit meeting to discuss conclusions and recommendations with management before issuing the final engagement communication. Which of the following describes the primary reason that the exit meeting should be documented?

  • A. The results of the discussion form part of the internal auditor's performance review
  • B. The information may be needed if a disagreement about the content arises
  • C. The Standards require that the internal auditor document exit meetings

Answer: B

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Exit Meetings: The purpose of an exit meeting is to ensure that management understands and agrees (or documents any disagreements) with the audit findings, conclusions, and recommendations. Proper documentation ensures that there is a record of the discussion, which can be referred to later if disputes arise about the content.


NEW QUESTION # 20
An internal auditor wants to establish the reasonableness of the current period's total payroll costs for the finance department. She divides the actual monthly payroll cost by the number of employees to derive an average cost per employee. Which of the following comparisons to this average cost would be considered trend analysis?

  • A. Similar data for the department from two prior periods.
  • B. Budgeted information of another organization in the same industry.
  • C. The mean of all actual salary amounts.

Answer: A

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Trend Analysis: This involves comparing data across different periods to identify patterns, fluctuations, or anomalies. Comparing the current average cost per employee to prior periods' data is a clear example of trend analysis.


NEW QUESTION # 21
During a travel expense audit engagement, the internal auditor discovered that the accounts payable staff spend a significant amount of time previewing expense reports before the reports are sent to managers for review and approval. The total of all expense reports during a year represents less than 1% of the organization' s total budget. Which of the following best supports the auditor's recommendation to reduce the level of reviews?

  • A. The inherent risk of travel expense fraud is low.
  • B. The duplication of effort in the review process is unnecessary.
  • C. The cost of the control outweighs the benefit.

Answer: C

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Cost-Benefit Analysis: Controls should be cost-effective. Spending significant resources on a process that accounts for less than 1% of the budget indicates that the cost of the control (extensive reviews) outweighs the potential benefits.


NEW QUESTION # 22
What is the primary purpose of a preliminary survey?

  • A. To develop a risk and control matrix for the process under review.
  • B. To gain an understanding of the process under review.
  • C. To determine why the engagement is being performed.

Answer: B

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Preliminary Survey Purpose: The survey is conducted to gather sufficient information to understand the process, environment, and related risks. This understanding serves as a foundation for planning the engagement.


NEW QUESTION # 23
Based on the three elements of the Fraud Triangle, which of the following might be considered a fraud indicator related to the opportunity element?

  • A. Poor segregation of duties allows for an executive assistant to authorize payments to one-time vendors without supervisory approvals
  • B. Executive management establishes financial performance objectives for business unit managers. The objectives include significant increases in annual sales and market penetration
  • C. Reserves were established based on conservative assumptions to maximize the amounts set aside for when operating results may not meet investors' expectations

Answer: A

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Opportunity Element: This element of the Fraud Triangle refers to situations where weaknesses in controls provide the ability for someone to commit fraud without being detected. Poor segregation of duties, as described in Option C, creates such opportunities.
* Example: Allowing an executive assistant to authorize payments without oversight significantly increases the risk of fraud.


NEW QUESTION # 24
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