IIA Internal Audit Practitioner - IIA-IAP Free Exam Questions

A. It identifies program code that may have been inserted for unauthorized purposes.

B. It verifies the correctness of account balances on a master file.

C. It enables continuous monitoring of transaction processing.

A. Audit policies and procedures that are comprehensive and well-documented, in accordance with the Standards.

B. A board audit committee that is composed of competent, independent members.

C. An audit charter that defines the chief audit executive's functional reporting relationship with the board.

A. To prioritize risks to the activity's objectives, according to the likelihood of occurrence.

B. To ensure that all risks identified during the engagement planning process are addressed during the audit.

C. To consider significant risks to the activity's objectives and the means by which the potential impact of risk is kept to an acceptable level.

A. Directive

B. Preventive

C. Detective

A. Experience level of key management personnel, susceptibility of the process to fraud, and process automation.

B. Business objectives, risks to the objectives, and impact and likelihood of the risk occurring.

C. Inherent process risks, as defined in a globally accepted risk and control framework.

A. Inherent risk is the level of risk before the risk assessment process, residual risk is the level of risk remaining after completing the risk assessment process.

B. Inherent risk is the level of risk the organization is willing to accept, residual risk is the level of risk deemed unacceptable by the organization.

C. Inherent risk is the level of risk in the absence of any targeted actions or controls to alter its severity, residual risk is the risk remaining after implementing corrective actions.

A. Control of goods

B. Matching goods received to requisitions

C. Authorization of requisitions