* Individual letters: You could pronounce each letter individually: "eye-oh-you-ee-ay".
* Like a word: You could try to pronounce it as a single word, but without a defined pronunciation, it's unclear how this would sound.
* As a code or abbreviation: The letters might be part of a code or abbreviation that has a specific pronunciation.
To understand how to pronounce "IOUEA", you need more context. Is it part of a word, a code, or something else? Please provide more information!