Online Access Free IIA-IAP Practice Test

Which of the following would be the best indicator that the organization's risk management processes are operating effectively?

• A.Management openly discusses both risks and opportunities facing the organization.
• B.The organization implemented formal operational risk management processes.
• C.Management established policies and procedures that state risk will be considered.

Which of the following consulting engagements leverages an internal auditor's risk and control knowledge to help the organization keep abreast of emerging risks?

• A.Advising on control designs
• B.Assisting with the development of policies and procedures
• C.Facilitating organizational control self-assessments

During an assurance engagement of an organization's procurement process, an internal auditor obtained the policy that specified the authorized dollar limits for invoices. This document would best support which of the following attributes of an audit report?

• A.Condition
• B.Criteria
• C.Effect

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

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

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.Recruit candidates to fulfill the skills requirement of the internal audit activity
• C.Hire the required number of internal auditors to accomplish the audit plan