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IIA IAA-IAP Practice Q&A's

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IIA IAA-IAP Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Ethics and Professionalism20%- Professional values and behavior
- Confidentiality and integrity
- Ethical dilemmas and resolution
- IIA Code of Ethics
Topic 2: Governance, Risk Management, and Control30%- Governance principles and frameworks
- Assessing adequacy and effectiveness of controls
- Internal control concepts and frameworks
- Risk management processes and techniques
- Role of internal audit in governance, risk, and control
Topic 3: Fraud Risks and Controls15%- Fraud prevention and detection controls
- Types and indicators of fraud
- Fraud risk assessment
- Internal audit responsibilities regarding fraud
Topic 4: Foundations of Internal Auditing35%- Definition and purpose of internal auditing
- Independence and objectivity
- Competence and due professional care
- Global Internal Audit Standards
- International Professional Practices Framework (IPPF)
- Quality assurance and improvement program

IIA Internal Audit Practitioner Sample Questions:

Question #1

In the absence of any action to control or modify the circumstances, the probability of loss arising from circumstances existing in an environment is known as which of the following types of risk?

  • A. Control
  • B. Residual
  • C. Inherent
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Correct Answer: C  🗳️

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Question #2

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 is subject to newly imposed industry health and safety regulations.
  • C. An organization must restate its financial statements due to an error in fixed asset valuation.
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Correct Answer: B  🗳️

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Question #3

According to the IIA's Code of Ethics, which of the following best describes the conduct of an internal auditor who demonstrates the principle of competency?

  • A. The auditor continually improves her proficiency and the effectiveness and quality of her services
  • B. The auditor is prudent in the use and protection of information acquired in the course of her work
  • C. The auditor does not accept anything that may impair or be presumed to impair her professional judgment
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Correct Answer: A  🗳️

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Question #4

Which of the following would be a common benefit of using generalized audit software?

  • A. It eliminates the need to obtain access privileges to relevant and reliable data.
  • B. It enables internal auditors to analyze very large quantities of data.
  • C. It enables internal auditors to perform tests on data with the assistance of the organization's IT personnel.
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Correct Answer: B  🗳️

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Question #5

Which of the following is an advantage of communicating audit observations as they are identified?

  • A. The auditor may be able to plan more efficiently next year's audit
  • B. The auditor may receive additional pertinent documentation or other relevant information
  • C. The auditor may not need to communicate the final results of the audit to the board
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Correct Answer: B  🗳️

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