IIA Internal Audit Practitioner can feel demanding because it measures both knowledge recall and practical decision-making. With 100 IAA-IAP practice questions from Actual4dump, you can turn a broad syllabus into repeated, manageable review sessions.

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IIA IAA-IAP Exam Overview:

IIA IAA-IAP Exam Syllabus Topics:

IIA IAA-IAP Exam Questions Answered

IIA Internal Audit Practitioner Sample Questions:

Question 1

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. Preventive
B. Directive
C. Detective

Question 2

The engagement supervisor is coordinating an audit of investments and needs to select an audit team member to determine the test attributes. Which of the following team members is most appropriate for the engagement supervisor to select?

A. An auditor with strong leadership skills who has experience leading projects for the IT auditdepartment.
B. An auditor who transferred from the investment department six months prior and has expert knowledge of investments.
C. An auditor who has investment audit experience from a previous organization, but who has never performed investment audits at the current organization.

Question 3

During an accounts payable audit engagement, the internal auditor identified a risk that vendor invoices may be paid multiple times. Which of the following would be appropriate preventive controls to mitigate this risk?

A. System controls to identify identical invoice amounts from the same vendor that prohibit payment after the initial invoice.
B. Manual controls requiring the reconciliation of paid vendor invoices to monthly invoice statements provided by the vendor.
C. System controls to identify identical invoice numbers and dates from the same vendor prior to payment.

Question 4

During an accounts payable audit engagement, the internal auditor found that vendor invoices are always paid
30 days after the invoice date, regardless of the vendor's payment terms. The auditor also discovered that accounts payable employees are not comparing vendor invoices received to previous vendor invoices prior to payment. Based on the auditor's observations, what are the potential risks?

A. Poor cash management due to potentially lost payment discounts
B. Poor cash management due to potentially paying the wrong vendors
C. Poor cash management due to potentially paying fraudulent invoices

Question 5

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

A. An organization is preparing to launch an enhanced service for its online customer information system.
B. An organization must restate its financial statements due to an error in fixed asset valuation.
C. An organization is subject to newly imposed industry health and safety regulations.

Solutions: