[Q11-Q29] Accurate & Verified 2025 New IAA-IAP Answers As Experienced in the Actual Test!

NO.11 Internal and external benchmarking by the internal audit activity are examples of which of the following?

NO.12 An internal auditor discovers that a vendor had submitted invoices and was paid for services not rendered. Which of the following controls is most appropriate to address this type of issue?

NO.13 Which sampling technique uses a nonrandom selection process that is expected to be representative of the population as a whole?

NO.14 Which of the following best describes a compliance audit engagement?

NO.15 During a travel expense audit engagement, the internal auditor discovered that the accounts payable staff spend a significant amount of time previewing expense reports before the reports are sent to managers for review and approval. The total of all expense reports during a year represents less than 1% of the organization’ s total budget. Which of the following best supports the auditor’srecommendation to reduce the level of reviews?

NO.16 During an accounts payable audit engagement, the internal auditor identified a risk that vendor invoices may be paid multiple times. Which of the following would be appropriate preventive controls to mitigate this risk?

NO.17 Which of the following statements is true with regard to the adequacy of a control design?

NO.18 An internal auditor was assigned to a payroll process audit engagement. At which stage ofengagement planning would the auditor conduct a risk assessment?

NO.19 A newly hired internal auditor has been asked to examine the sales of a specific product over the last four years. Which of the following analytical review techniques should the auditor employ?

NO.20 Which of the following is a purpose of an embedded audit module?

NO.21 Which of the following situations is most likely to require a compliance engagement from the internal audit activity?

NO.22 What is the purpose of establishing engagement objectives during the planning phase of an internal audit?

NO.23 Which of the following is an important consideration when providing quality audit communications?

NO.24 Which of the following would have the most direct impact on management’s decision regarding the amount of risk that is considered acceptable?

NO.25 Which of the following best describes the difference between inherent risk and residual risk?

NO.26 Management has decided that transactions less than $50 no longer require authorization. Which of the following risk management strategies does this represent?

NO.27 Which of the following analytical procedures would be most effective for an internal auditor to examine changes in performance over time?

NO.28 An internal auditor was gathering information regarding the receiving process and decided that a narrative memorandum was the best way to document the process. Which of the following explanations best supports the auditor’s decision?

NO.29 Which of the following statements is true regarding root cause analysis?