[2022] Pass IIA-CRMA Exam - Real Questions & Answers
IIA-CRMA Exam Questions Get Updated [2022] with Correct Answers
IIA IIA-CRMA Exam Syllabus Topics:
| Topic | Details |
|---|---|
| Topic 1 |
|
| Topic 2 |
|
| Topic 3 |
|
| Topic 4 |
|
| Topic 5 |
|
| Topic 6 |
|
NEW QUESTION 27
Which of the following is a detective control strategy against fraud?
- A. Performing background checks on employees.
- B. Performing a surprise audit.
- C. Requiring employees to attend ethics training.
- D. Implementing a control self-assessment.
Answer: B
NEW QUESTION 28
During an account receivables audit, an internal auditor found a significant number of input errors resulting in a $500, 000 balance understatement.
Which of the following is the most important question the internal auditor should ask to develop an appropriate recommendation for this finding?
- A. Who?
- B. Why?
- C. When?
- D. How?
Answer: B
NEW QUESTION 29
Upon joining the internal audit activity, each new auditor receives a copy of the audit handbook. Which of the following handbook policies has the greatest risk of compromising audit objectivity?
- A. Internal auditors should have direct and unrestricted access to personnel and information throughout the organization and the governing board.
- B. Internal auditors should obtain 80 hours of continuing professional education every two years, 20 of which should be audit-related, and the remainder may be operations-related.
- C. Internal auditors should undergo annual performance appraisals conducted by the chief audit executive, who reports administratively to the chief financial officer.
- D. Internal auditors should rotate to other areas of the organization for nonaudit assignments to gain an understanding of the organization's operations.
Answer: D
NEW QUESTION 30
Which of the following is the best way to detect fraud?
- A. Activate a whistleblower hotline.
- B. Implement process controls.
- C. Conduct anti-fraud training.
- D. Perform background investigations.
Answer: A
NEW QUESTION 31
An assurance mapping exercise helps an organization do which of the following?
1. Provide assurance to stakeholders that risks are managed and reported, and regulatory and legal obligations are met.
2. Fulfill best practices in the industry.
3. Identify and address any gaps in the risk management process.
4. Identify fraud.
- A. 1 and 3.
- B. 2 and 3.
- C. 3 and 4.
- D. 1 and 4.
Answer: A
NEW QUESTION 32
Which of the following would most likely be considered a red flag for fraud?
- A. An organization lacks a whistleblower hotline for reporting suspicious activity.
- B. An employee in charge of payroll disbursements has rotated these duties with several colleagues.
- C. A senior manager has been delegating the authority to sign-off on small dollar amount purchases to a subordinate.
- D. An employee with significant personal debt is in charge of handling large wire transfers for the organization.
Answer: D
NEW QUESTION 33
During an engagement, an internal auditor decided to use variance analysis as an auditing techniques. Which of the following steps should the auditor pursue if he discovers unexpected deviations of actual results from budget?
- A. Conclude that the budget was unreasonably set and accept the deviations.
- B. Gather additional information to determine the cause of the deviations.
- C. Report the deviations immediately to the audit committee.
- D. Perform alternative forms of analytical procedures which provide no deviations.
Answer: B
NEW QUESTION 34
Which of the following statements is true regarding assurance services provided to clients outside of the organization?
- A. The nature of assurance services for outside clients is the same as for internal clients.
- B. Assurance services for outside clients must be approved on a case-by-case basis by the board of directors.
- C. Assurance services for outside clients are not covered under the internal audit charter.
- D. The nature of assurance services for outside clients should be defined in the internal audit charter.
Answer: D
NEW QUESTION 35
According to IIA guidance, which of the following should be formally documented in the internal audit charter?
- A. The internal audit activity's responsibility for the organization's governance framework.
- B. The internal audit activity's responsibility for imposing risk management processes.
- C. The budgeting process for the internal audit activity.
- D. The nature of consulting services provided by the internal audit activity.
Answer: D
NEW QUESTION 36
Which of the following is a valid statement about the use of visual observations during an audit engagement?
1. Visual observations can be used to detect ineffective controls, idle resources, and safety hazards.
2. Visual observations can be used during both preliminary survey and fieldwork stages of the audit engagement.
3. Visual observations can provide unsubstantiated facts to management if the internal auditor believes the information is useful.
4. Visual observations can assist an auditor in determining if a material observation should be communicated through informal means to the organization's senior management.
- A. 1 and 2 only
- B. 2 and 3 only
- C. 1 and 4 only
- D. 3 and 4 only
Answer: A
NEW QUESTION 37
According to IIA guidance, which of the following statements regarding the internal audit charter is true?
- A. The CEO periodically should assess whether the terms of the charter continue to be adequate.
- B. The charter should define the consulting services that the internal audit activity is permitted to perform.
- C. Senior management should approve the charter before it is submitted to the board.
- D. The charter should describe the purpose and authority of the internal audit activity, consistent with the Standards.
Answer: C
NEW QUESTION 38
Which of the following control methods is effective in reducing the risk of purchasing-scheme fraud?
1. Periodically reviewing the vendor list for unusual vendors and addresses.
2. Segregating duties for amount purchasing, receiving, shipping, and accounting.
3. Validating sequential integrity of purchase orders.
4. Verifying the validity of invoices with post office box addresses.
- A. 1, 2, 3, and 4
- B. 1, 2, and 4 only
- C. 1 and 2 only
- D. 3 and 4 only
Answer: D
NEW QUESTION 39
Which of the following is the primary engagement responsibility of an entry-level internal auditor?
- A. Documentation.
- B. Leadership.
- C. Analysis.
- D. Reporting.
Answer: C
NEW QUESTION 40
Click the Exhibit.
Internal auditors are asked to keep track of how many hours per day they spend planning the audit, conducting the engagement, and writing the audit report. The data for two days has been collected as follows:
Day 1
Day 2
Planning the audit
2 hours
3 hours
Conducting the engagement
1 hour
1 hour
Writing the audit report
2 hours
4 hours
Which of the following graphs depicts the data accurately?
- A. Both A and B.
- B. Graph A only
- C. Neither A nor B.
- D. Graph B only
Answer: A
NEW QUESTION 41
An internal audit activity (IAA) provided assurance services for an activity it was responsible for during the preceding year.
As a result, which IIA Code of Ethics principle is presumed to be impaired?
- A. Objectivity.
- B. Competence.
- C. Independence.
- D. Flexibility.
Answer: A
NEW QUESTION 42
Allegations have been made that an organization's share price has been manipulated.
Which of the following would provide an internal auditor with the most objective evidence in this case?
- A. Former financial consultants.
- B. Major shareholders of the organization.
- C. Former members of management.
- D. Large customers of the organization.
Answer: A
NEW QUESTION 43
Which of the following is a requirement for an assurance engagement that may not be for a consulting engagement?
- A. The internal audit activity must ensure management actions have been implemented effectively or risk accepted.
- B. Auditors cannot participate in an assurance engagement of a function for which they previously performed a consulting engagement.
- C. The scope and objective of the engagement is agreed upon based on the engagement client's needs.
- D. The internal audit activity has to ensure team members' objectivity is not impaired.
Answer: B
NEW QUESTION 44
......
Practice IIA-CRMA Questions With Certification guide Q&A from Training Expert VCE4Plus: https://www.vce4plus.com/IIA/IIA-CRMA-valid-vce-dumps.html
Free IIA IIA-CRMA Test Practice Test Questions Exam Dumps: https://drive.google.com/open?id=1EUNtn3flAv9Dczv-h8gqw2fiXm3uDp-F