PASS GUARANTEED EFFICIENT IIA - IAA-IAP - INTERNAL AUDIT PRACTITIONER VALID TEST PREP

Pass Guaranteed Efficient IIA - IAA-IAP - Internal Audit Practitioner Valid Test Prep

Pass Guaranteed Efficient IIA - IAA-IAP - Internal Audit Practitioner Valid Test Prep

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IIA IAA-IAP Valid Test Prep: Internal Audit Practitioner - TestkingPass Best Provider

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IIA Internal Audit Practitioner Sample Questions (Q39-Q44):

NEW QUESTION # 39
According to IIA guidance, which one of the following hiring strategies is most appropriate to fill internal audit positions?

  • A. Recruit candidates to fulfill the skills requirement of the internal audit activity
  • B. Assess each candidate's competency for an upcoming audit
  • C. Hire the required number of internal auditors to accomplish the audit plan

Answer: A

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Skills-Based Recruitment: Internal audit activities require diverse skills to handle complex audits.
Recruiting candidates based on the skills needed ensures the internal audit activity can fulfill its mandate effectively.


NEW QUESTION # 40
Duties in a purchasing system are segregated and performed by different people. One person orders the goods, another person receives the goods, and another pays for the goods. This is an example of which of the following controls?

  • A. Detective
  • B. Preventive
  • C. Directive

Answer: B

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to Internal Controls:
* Preventive controlsare designed to prevent errors, fraud, or irregularities before they occur by ensuring that processes and activities are performed correctly from the start.
* Standard 2130 - Control: Internal auditors assess the design and effectiveness of controls to prevent risks from materializing.
* Reasoning:
* Option Ais correct because segregation of duties (ordering, receiving, and paying) is apreventive control, as it prevents a single person from having the authority to initiate, authorize, and complete a transaction, reducing the risk of fraud or errors.
* Option B(Directive) would focus on guiding behavior, such as setting policies or expectations.
* Option C(Detective) refers to controls that identify and detect errors after they occur, such as audits or reviews.
* Impact of Segregation of Duties:
* By ensuring duties are segregated, organizations minimize the risk of fraudulent activities and errors, thus acting as a preventive measure.


NEW QUESTION # 41
During a procurement process consulting engagement, the internal auditors reviewed contracts for the hospital's supply of medicine. Which of the following would the internal auditors most likely recommend to improve the effectiveness of the procurement process?

  • A. The procurement process must be comprehensively documented.
  • B. The procurement process should begin with clearly specified needs.
  • C. Only qualified procurement professionals should manage the procurement process.

Answer: B

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to Best Practices in Procurement:
* Clearly specifying needs at the outset ensures that procurement decisions align with organizational objectives and operational requirements.
* Reasoning:
* Option Ais correct because specifying needs at the beginning helps avoid over-purchasing, under- purchasing, or acquiring unsuitable items, thus improving the overall effectiveness of the procurement process.
* Option B(comprehensive documentation) is important for transparency and compliance but does not directly improve the effectiveness of procurement outcomes.
* Option C(qualified professionals) ensures competence but is secondary to having clear, specified needs driving the process.
* Impact of Clear Needs Specification:
* It ensures the procurement process delivers value, meets quality requirements, and aligns with operational demands.


NEW QUESTION # 42
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?

  • A. Refrain from providing recommendations to preserve audit independence.
  • B. Agree to offer recommendations based on observations and conclusions.
  • C. Explain that only management should recommend and implement the corrective action.

Answer: B

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 2410 - Criteria for Communicating: Recommendations should be provided where appropriate to address identified issues and improve processes.
* Standard 1100 - Independence and Objectivity: Providing recommendations does not impair independence as long as the auditor does not implement them.
* Reasoning:
* Option Bis correct because providing recommendations based on objective observations is part of an internal auditor's role in adding value and improving operations.
* Option Aunnecessarily avoids recommendations, misinterpreting independence requirements.
* Option Cincorrectly suggests that the auditor cannot provide input; while management owns the implementation, the auditor's recommendations can guide effective solutions.
* Adding Value Through Recommendations:
* Recommendations are a critical output of the audit process, guiding management to address inefficiencies and improve operations.


NEW QUESTION # 43
Which of the following is an element of a well-formed audit recommendation?

  • A. Factual evidence identified during the engagement.
  • B. Measures to prevent recurrence of the condition.
  • C. Factors that allowed the condition to exist.

Answer: B

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to Audit Recommendations:
* According to theIIA Standards, a recommendation must be actionable, specific, and designed to address the root cause of an identified issue.
* Reasoning:
* Option Bis correct because effective recommendations focus on preventing recurrence by addressing root causes or implementing control measures.
* Option A(factual evidence) supports findings but does not constitute the recommendation itself.
* Option C(factors allowing the condition) provides context for findings but does not include actionable measures to resolve or prevent the issue.
* Key Components of a Recommendation:
* Recommendations should propose practical solutions to mitigate risks, improve processes, or enhance controls.
* Measures to prevent recurrence align with the goal of sustainable improvements.


NEW QUESTION # 44
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