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IIA Internal Audit Practitioner Sample Questions:

1. The engagement supervisor is coordinating an audit of investments and needs to select an audit team member to determine the test attributes. Which of the following team members is most appropriate for the engagement supervisor to select?

A) An auditor who has investment audit experience from a previous organization, but who has never performed investment audits at the current organization.
B) An auditor with strong leadership skills who has experience leading projects for the IT auditdepartment.
C) An auditor who transferred from the investment department six months prior and has expert knowledge of investments.

2. When is it appropriate for the internal auditor to determine the engagement's scope and objectives?

A) In the final engagement report
B) During the planning of the engagement
C) During the performance of the engagement

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

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

4. A senior internal auditor is using a risk and control matrix to facilitate an internal control assessment of the fixed asset accounting process. Which of the following activities would aid the auditor in determining inputs for the risk and control matrix?

A) Management's cost-benefit analysis of internal control alternatives considered in the design of the fixed asset accounting process.
B) Reviewing the results of control effectiveness testing of the fixed asset capitalization subprocess.
C) Interviews with fixed asset management, control process walkthroughs, and internal control questionnaires.

5. Which of the following situations is most likely to require a compliance engagement from the internal audit activity?

A) An organization is subject to newly imposed industry health and safety regulations.
B) An organization is preparing to launch an enhanced service for its online customer information system.
C) An organization must restate its financial statements due to an error in fixed asset valuation.

Solutions: