Online Access Free IIA-IAP Practice Test

What is the purpose of establishing engagement objectives during the planning phase of an internal audit?

• A.To ensure that the work performed by other internal or external assurance providers is considered during audit planning.
• B.To ensure that audit procedures are designed to address the risks relevant to the area being audited.
• C.To ensure that all auditors have a common understanding of the area being audited.

Which of the following is a common computer-assisted audit tool used to analyze data?

• A.Spreadsheet software
• B.Word processing software
• C.Social media

An internal auditor was assigned to a payroll process audit engagement. At which stage of engagement planning would the auditor conduct a risk assessment?

• A.After documenting the process.
• B.After determining audit engagement objectives.
• C.After allocating resources.

What are the typical elements of a risk and control matrix used in the engagement planning process?

• 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.

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

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