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IIA-IAP certification program is open to individuals who have less than two years of experience in the internal audit profession. Internal Audit Practitioner certification exam consists of 100 multiple-choice questions and individuals are given two hours to complete the exam. IIA-IAP exam covers topics such as internal audit fundamentals, risk management, governance, and internal control.

IIA-IAP (Internal Audit Practitioner) Certification Exam is a professional certification program offered by the Institute of Internal Auditors (IIA). Internal Audit Practitioner certification is designed for individuals who are new to the internal audit profession or who have less than two years of experience in the field. The IIA-IAP Certification is a great way to demonstrate your commitment to the internal audit profession and to gain recognition for your knowledge and skills.

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IIA-IAP Web-Based Practice Exam Questions

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IIA Internal Audit Practitioner Sample Questions (Q63-Q68):

NEW QUESTION # 63
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?

A. It assists the CAE with assessing the results of the internal audit team's development efforts.
B. It helps the internal auditors maintain a required level of proficiency.
C. It helps the internal audit activity attain an appropriate organizational status to maintain independence.

Answer: B

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 1210 - Proficiency: Internal auditors must possess the knowledge, skills, and competencies needed to perform their responsibilities.
* Continuous professional development ensures the internal audit team maintains proficiency.
* Reasoning:
* Option A is correct because training enhances the skills and proficiency of the internal audit team, aligning with the requirement to maintain technical and professional competence.
* Option B (organizational status for independence) relates to governance and reporting relationships, not training.
* Option C (assessing development efforts) is a secondary benefit and not the primary goal of providing training.
* Impact of Training:
* A well-trained audit team improves the quality of engagements, ensures adherence to professional standards, and supports the overall effectiveness of the internal audit activity.

NEW QUESTION # 64
A member of the internal audit team worked eight months ago in an area of the organization that she is now being tasked with auditing. Which of the following would most likely be impacted by her participation in the audit?

A. Objectivity
B. Competency
C. Integrity

Answer: A

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 1120 - Individual Objectivity: Internal auditors must perform engagements with honesty and without any bias.
* Serving in an operational or management role in the area being audited within the past year can impair objectivity, as the auditor may unconsciously favor or critique processes they were involved in developing or managing.
* Reasoning:
* Option B is correct because recent involvement in the audited area could compromise objectivity, leading to potential conflicts of interest or biased assessments.
* Option A (integrity) is less likely impacted, as integrity relates to adherence to ethical principles and honesty.
* Option C (competency) is not affected, as the individual's skills and knowledge remain intact regardless of the recency of their involvement.
* Mitigating Actions:
* The chief audit executive (CAE) should evaluate and address potential impairments to objectivity, possibly assigning the auditor to a different engagement.

NEW QUESTION # 65
Which of the following conditions involving the chief audit executive (CAE) is most likely to impair the independence of the internal audit activity?

A. The CAE reports directly to the controller for the organization, and the internal audit activity resides in the office of the comptroller.
B. The CAE regularly attends and participates in critical executive management meetings for the organization.
C. The CAE has direct access to records, personnel, and physical properties throughout the organization.

Answer: A

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reporting to the Controller: Independence is compromised when the CAE reports to an operational management role such as the controller, as this creates a conflict of interest and undermines objectivity.
The IIA Standards recommend that the CAE report functionally to the board and administratively to the CEO to preserve independence.

NEW QUESTION # 66
Which of the following would have the most direct impact on management's decision regarding the amount of risk that is considered acceptable?

A. Risk appetite.
B. Risk capacity.
C. Risk perception.

Answer: A

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 2120 - Risk Management: Internal audit should evaluate the organization's risk appetite and alignment with decision-making processes.
* Definitions:
* Risk Appetite (Option B): The level of risk an organization is willing to accept in pursuit of its objectives, making it the most direct determinant of acceptable risk levels.
* Risk Capacity (Option A): The organization's ability to absorb risk, which is more strategic and long-term.
* Risk Perception (Option C): Subjective views of risk, which can influence decisions but do not directly determine acceptable risk.

NEW QUESTION # 67
According to The IIA's Code of Ethics, which of the following best illustrates the principle of confidentiality?

A. The auditor declined to delegate critical audit lead responsibilities to a new auditor.
B. The auditor declined to lead an audit of a department in which his nephew is the manager.
C. The auditor refused to use information learned during an audit to diversify his financial portfolio.

Answer: C

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to the IIA Code of Ethics - Confidentiality:
* The principle of confidentiality requires internal auditors to respect and protect the value of information obtained during the course of their work and to avoid using it for personal gain.
* Reasoning:
* Option A is correct because refusing to use audit information for personal financial gain directly aligns with the principle of confidentiality.
* Option B relates to competency and professional judgment, not confidentiality.
* Option C pertains to avoiding conflicts of interest, which is an example of the principle of objectivity.
* Application of Confidentiality:
* Internal auditors must safeguard sensitive information and use it solely for legitimate audit purposes.

NEW QUESTION # 68
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