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IIA Internal Audit Practitioner Sample Questions (Q97-Q102):

NEW QUESTION # 97
Which of the following would an internal auditor most likely use to document a complex process that includes risks and controls, timelines, and ownership of key steps?

A. Risk and control matrix.
B. Detailed flowchart.
C. Process map.

Answer: A

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to IIA Standards:
* Standard 2330 - Documenting Information: Internal auditors are required to document audit evidence and processes in a way that is clear, complete, and supports audit conclusions.
* Risk and control matrices are effective for documenting risks, controls, and related responsibilities in a structured way.
* Reasoning:
* Option C is correct because a risk and control matrix clearly documents processes, the associated risks, control activities, and ownership of each step. It is the most suitable tool for understanding risks and controls along with associated timelines and responsibilities.
* Option A (process map) documents the steps in a process but does not directly link risks and controls.
* Option B (detailed flowchart) is used to map the flow of a process but also lacks the structure for detailing risks and control ownership.
* Best Practice for Documentation:
* A risk and control matrix is the most structured and comprehensive tool for documenting complex processes that involve risks, controls, and ownership.

NEW QUESTION # 98
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. Agree to offer recommendations based on observations and conclusions.
B. Explain that only management should recommend and implement the corrective action.
C. Refrain from providing recommendations to preserve audit independence.

Answer: A

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 B is correct because providing recommendations based on objective observations is part of an internal auditor's role in adding value and improving operations.
* Option A unnecessarily avoids recommendations, misinterpreting independence requirements.
* Option C incorrectly 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 # 99
Which of the following best describes a compliance audit engagement?

A. The auditor analyzes the economic activity of the organization as measured and reported using international accounting standards.
B. The auditor reviews controls of the oil shale mining process to assess adherence to safety regulations established by local authorities.
C. The auditor conducts a review to provide assurance that the external service provider of maintenance for the organization has an effective risk management process.

Answer: B

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Reference to Compliance Auditing:
* Definition: Compliance audits assess adherence to external laws, regulations, or internal policies and procedures.
* Standard 2130 - Control: Internal audit must evaluate the adequacy and effectiveness of controls to ensure compliance with applicable laws and regulations.
* Reasoning:
* Option A is correct because assessing adherence to safety regulations is a compliance activity focused on legal and regulatory conformity.
* Option B (analyzing economic activity) relates more to financial auditing or accounting standards compliance, not regulatory compliance.
* Option C (reviewing an external service provider's risk management process) aligns with a risk or assurance engagement, not compliance.
* Impact of Compliance Audits:
* Ensuring adherence to legal requirements protects the organization from regulatory penalties and enhances operational integrity.

NEW QUESTION # 100
When is it appropriate for the internal auditor to determine the engagement's scope and objectives?

A. During the performance of the engagement
B. During the planning of the engagement
C. In the final engagement report

Answer: B

Explanation:
Comprehensive and Detailed Step-by-Step Explanation:
* Planning Phase: According to the International Standards for the Professional Practice of Internal Auditing (ISPPIA), Standard 2200 (Engagement Planning), the internal auditor must establish the engagement's objectives, scope, and criteria during the planning phase. This ensures that the audit is focused and aligned with organizational objectives and stakeholder expectations.
* Performance Phase: During this phase, auditors execute the planned activities, but the scope and objectives are typically fixed unless there are significant changes in circumstances.
* Final Engagement Report: The final report documents the outcomes of the audit, not the scope or objectives, which are pre-determined.
References:
* IIA Standard 2200: Engagement Planning.
* IIA Standard 2210: Engagement Objectives.
* IIA Implementation Guides on Engagement Planning emphasize determining the scope and objectives early to provide direction and clarity.
Thus, the correct answer is A. During the planning of the engagement.

NEW QUESTION # 101
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. Competency
B. Integrity
C. Objectivity

Answer: C

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 # 102
......

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New IIA-IAP Dumps Questions - IIA-IAP Valid Guide Files

Pass Guaranteed Quiz 2025 IIA Efficient New IIA-IAP Dumps Questions

IIA Internal Audit Practitioner Sample Questions (Q97-Q102):

Top New IIA-IAP Dumps Questions - How to Prepare for IIA IIA-IAP In Short Time