IIA IIA-CRMA Practice Test Pdf Exam Material
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IIA IIA-CRMA Exam Syllabus Topics:
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NEW QUESTION 105
Which of the following techniques would provide the most compelling evidence that a safety hazard exists within a manufacturing facility?
- A. Analysis of facility operating reports, focusing on instances when breakdowns occurred.
- B. Questioning of facility management, including the facility safety officer.
- C. Review of records involving safety violations, filed by facility production employees.
- D. Observation of the facility during operations.
Answer: D
NEW QUESTION 106
Which of the following are generally recognized as essential elements of a corporate social responsibility program?
- A. Organizational governance and financial reporting.
- B. Consumer issues and return on investment.
- C. Human rights and the environment.
- D. Fair operating practices and government regulation.
Answer: C
NEW QUESTION 107
Which of the following options is the most cost-effective and efficient way for internal auditors to keep current with the latest developments in the internal audit profession?
- A. Maintaining membership in The HA and similar professional organizations and subscribing to relevant email updates or news feeds.
- B. Attending annual professional conferences and seminars.
- C. Participating in on-the-job training in various departments of the organization.
- D. Pursuing as many professional certifications as possible.
Answer: A
NEW QUESTION 108
According to COSO, which of the following is not considered one of the components of an organization's internal environment?
- A. Framework to plan, execute and monitor activities.
- B. Integrated responses to multiple risks.
- C. Authority and responsibility to resolve issues.
- D. Knowledge and skills needed to perform activities.
Answer: B
NEW QUESTION 109
What is the primary benefit to the internal audit activity for undertaking an internal quality assessment?
- A. To identify key risks and areas of concern within the organization.
- B. To identify inefficiencies within the internal audit team.
- C. To help the internal audit activity complete its annual assurance plan.
- D. To help improve the overall quality of the internal audit activity's work.
Answer: D
NEW QUESTION 110
Which of the following is most likely to enhance an internal auditor's objectivity?
- A. An auditor performs his work free from interference.
- B. An auditor is appropriately able to communicate results.
- C. An auditor is unrestricted in determination of scope.
- D. An auditor avoids conflicts of interest.
Answer: D
NEW QUESTION 111
If an engagement client disputes that a specific action or process is within the scope of the internal audit activity, what would be the most appropriate way for the internal audit activity (IAA) to respond?
- A. Refer the client to the IAA's charter and the approved yearly audit plan, which includes the areas designated for audit in the current time period.
- B. Terminate the audit engagement in full because an operational audit will not be productive without the client's cooperation.
- C. Terminate only the specific action or process with which the client disagrees and work to determine a substitute function that will not impede further IAA or the client-audit relationship.
- D. Seek the approval of senior management or the board in mediation, allowing an overseer to clarify the scope of the audit engagement for the client.
Answer: A
NEW QUESTION 112
According to IIA guidance, which of the following individuals would best be considered independent for the purpose of participating in an external assessment of the quality assurance and improvement program for an internal audit activity (IAA)?
- A. A competent employee of an independent external organization that provides co-sourcing services to the IAA.
- B. A former employee knowledgeable of the IAA who resigned three years earlier from the organization.
- C. An employee in an affiliated organization who has never worked directly with the IAA.
- D. An employee in the parent organization who has not had any previous contact with the IAA.
Answer: B
NEW QUESTION 113
An internal auditor in a small broadcasting organization was assigned to review the revenue collection process.
The auditor discovered that some checks from three customers were never recorded in the organization's financial records. Which of the following documents would be the least useful for the auditor to verify the finding?
- A. Customer confirmation letters.
- B. Bank statements.
- C. Copies of sales invoices.
- D. Copies of deposit slips.
Answer: D
NEW QUESTION 114
Which of the following scenarios would represent the greatest threat to the authority of the internal audit activity (IAA)?
- A. Responsibility for risk management processes were removed from the IAA and placed under a newly created chief risk officer.
- B. The IAA was denied access to expenditure and budget requirement reports because the reports were considered to be financial administrative matters.
- C. A change was implemented requiring the IAA to report administratively to the organization's chief legal counsel rather than the board.
- D. An internal auditor was informed by the chief financial officer that client survey results would be unfavorable unless the auditor changed a finding in the report.
Answer: B
NEW QUESTION 115
According to IIA guidance, which of the following should be included in the internal audit charter?
- A. Organizational relationships and reporting lines.
- B. Identification of the organizational units where engagements are to be performed.
- C. The minimum resources and competencies needed for the internal audit activity.
- D. Assigned responsibilities for designing and implementing controls.
Answer: A
NEW QUESTION 116
An internal auditor completed an audit of a bank's loan department and found all significant risks to be managed adequately through effective internal controls. Which of the following would be an appropriate conclusion to report to management?
- A. The residual risk is higher than or equal to the risk appetite.
- B. The inherent risk is higher than or equal to the risk tolerance.
- C. The inherent risk is lower than or equal to the risk tolerance.
- D. The residual risk is lower than or equal to the risk appetite.
Answer: D
NEW QUESTION 117
Reviewing prior audit reports and supporting workpapers before an engagement starts enables an internal auditor to do which of the following?
1. To understand better the activity and processes that will be audited.
2. To identify the audit procedures that will be used during the engagement.
3. To ensure that matters of greatest vulnerability will be addressed.
4. To use the information obtained as evidence in the current engagement.
- A. 1 and 3 only
- B. 2, 3, and 4 only
- C. 4 only
- D. 1 and 4 only
Answer: A
NEW QUESTION 118
The chief audit executive (CAE) of a mid-sized pharmaceutical organization has operational responsibility for the regulatory compliance function. The audit committee requests an assessment of regulatory compliance.
According to IIA guidance, which of the following is the CAE's best course of action?
- A. Have a proficient internal audit staff member perform the assessment and disclose the impairment in the audit report and to the board.
- B. Contract with a third-party entity or external auditor to complete the assessment and report the results to senior management and the board.
- C. Have a proficient internal audit staff member perform the audit and report the results of the assessment directly to senior management and the board.
- D. Have a regulatory compliance staff member perform a self-assessment, to be reviewed by a proficient internal auditor.
Answer: B
NEW QUESTION 119
While attending a conference, an internal auditor won an all-expense paid trip sponsored by a vendor of the internal auditor's organization.
Which of the following actions are most appropriate for the auditor to take?
- A. Consult with an immediate supervisor and notify the organization's audit committee.
- B. Give the prize to a friend or family member and notitfy the organization's audit committee.
- C. Consult with an immediate supervisor and review the organization's ethics policy.
- D. Give the prize to a friend or family member and review the organization's ethics policy.
Answer: C
NEW QUESTION 120
According to IIA guidance, which of the following is ultimately responsible for seeing that the internal control system of an organization's social responsibility program is effective?
- A. Internal audit activity.
- B. Senior management.
- C. Board of directors.
- D. All employees.
Answer: C
NEW QUESTION 121
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IIA IIA-CRMA Exam: Basic Questions With Answers: https://drive.google.com/open?id=1EBx-z-cflZTx5Zy_n7ZZVZ_sydjHOl9e