Free IIA IAA-IAP Exam Dumps Questions & Answers

An internal auditor is reporting on the organization's asset management system. Which of the following would likely add the greatest value to the organization?

• A.  Recommendations aimed at reducing risk exposure.
• B.  Confirmation that controls are operating efficiently.
• C.  Reports that state identified deficiencies were remedied during the audit.

An internal auditor is planning a business continuity audit engagement at a remote manufacturing plant. During planning interviews, the plant manager stated that the local Environmental, Health, and Safety (EHS) Department, which reports to the plant manager, had completed a similar review six months ago. The EHS review did not find any significant weaknesses. How should the internal auditor consider the EHS review results in the current audit engagement planning?

• A.  Recommend canceling the audit engagement, as it would be a duplication of effort to revisit the same process already reviewed by EHS.
• B.  Evaluate the objectivity and competency of the EHS reviewers and their work to determine whether their review results may be relied upon.
• C.  Ignore the EHS review results, as the department is not a reliable source of information due to its lack of objectivity and independence.

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

• A.  Reduce.
• B.  Accept.
• C.  Avoid.

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

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

Which of the following best explains why internal auditors should identify risk scenarios during a risk assessment of the area being audited?

• A.  To determine whether established controls are operating effectively to mitigate critical risks.
• B.  To determine what would prevent the achievement of objectives in the area being audited.
• C.  To evaluate the adequacy of management's risk management process in the area being audited.