• Exam Code: IAA-IAP
  • Exam Name: Internal Audit Practitioner
  • Certification Provider: IIA
  • Corresponding Certification:IIA Certification
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IIA IAA-IAP Exam Syllabus Topics:

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

IIA Internal Audit Practitioner Sample Questions:

1. Which of the following interview techniques would be most effective in a fraud investigation?

A) The interviewer should be positioned between the suspect and the door to discourage the suspect from leaving during the interview.
B) The interviewer should ensure that only the interviewer and the suspect are present for the interview.
C) The interviewer should allow the suspect to use his own words and only interrupt if a point requires clarification.


2. An internal auditor wants to establish the reasonableness of the current period's total payroll costs for the finance department. She divides the actual monthly payroll cost by the number of employees to derive an average cost per employee. Which of the following comparisons to this average cost would be considered trend analysis?

A) Similar data for the department from two prior periods.
B) The mean of all actual salary amounts.
C) Budgeted information of another organization in the same industry.


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

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


4. During engagement planning, which of the following sources would provide the internal auditor with relevant information to obtain an understanding of the process under review?

A) Mission, strategic objectives, and key performance indicators of the process under review, based on documented plans, policies, procedures, and discussions with management
B) Final report from an external financial audit of the process under review, which includes the status of management's corrective action plans
C) The internal audit activity's annual audit plan and discussions that led to its development


5. What is the primary objective for testing controls?

A) To determine whether controls are operating effectively.
B) To identify major patterns of errors or irregularities that might exist in final account balances.
C) To understand whether a control is in place.


Solutions:

Question # 1
Answer: C
Question # 2
Answer: A
Question # 3
Answer: C
Question # 4
Answer: A
Question # 5
Answer: A

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