AUI3701Exam and answers

Topic 1: International Professional Practices Framework (IPPF) requirements pertaining to the Planning of an internal audit The whole IPPF will be asked in the MCQ and long questions. However, for long questions we will focus the mandatory guidance. The IPPF is very important and crucial when studying internal auditing. So ensure that you are well versed in the IIA. In topic 1, we will look at the guidance by IPPF which specifically talks on the PLANNING of internal audit engagements. You may be asked either MCQ or long, scenario questions relating to IPPF. Usually for IPPF long questions, you are given a scenario in which you should explain (quoting from IPPF) on whether you conclude that scenario permissible or not permissible according to the IPPF. For questions like this, you should answer as follows: 1. Firstly, just state if scenario is permissible or not according to the IPPF. 2. Secondly, quote/refer to the relevant part from the IPPF (Code of Ethics, IIA Standards etc.) that relates to the scenario. 3. Lastly, apply that reference from the IPPF to the scenario and explain why it is permissible or not. Note – if the question requires you to state if the scenario is according to the IIA Code of Ethics. Therefore only refer to the IIA Code of Ethics. Do not refer to the IIA Standards. Alternatively, if the question requires you to state if the scenario is according to the IIA Standards, only refer to the IIA Standards. However, the question requires that you state if the scenario is according to the IPPF, then you can refer to any of the IPPF elements (Code of Ethics, IIA Standards etc.)