Practice IIA-CRMA-ADV Exam Online

Question 1

Which segregation of duties would best reduce the risk of payroll fraud?

A : Human resources personnel add employees, and payroll personnel process hours and enter employee bank account numbers. Paychecks are automatically deposited in the employee's bank account.

B : Human resources personnel add employees, payroll personnel process hours, and human resources personnel deliver paychecks to employees.

C : Human resources personnel add employees, review and submit payroll hours to the payroll department for processing, and deliver paychecks to employees.

D : Human resources personnel add employees and enter employee bank information. Payroll personnel process hours, and paychecks are automatically deposited in the employee's bank account.

Answer: A

Question 2

Non-statistical sampling does not require which of the following?

A : The sample to be representative of the population.

B : The sample to be selected haphazardly.

C : A smaller sample size than if selected using statistical sampling.

D : Projecting the results to the population.

Answer: C

Question 3

Faced with a complex, highly technical construction audit engagement, the chief audit executive (CAE) considered complementing the current internal audit resources by engaging the services of a civil engineer.

Which of the following should the CAE consider in determining whether the engineer possesses the necessary skills to perform the engagement?

1. Professional certification, license, or other recognition of the engineer's competence in the relevant discipline.

2. Experience of the engineer in the type of work being considered.

3. Compensation or other incentives that the engineer may receive.

4. The extent of other ongoing services that the engineer may be performing for the organization.

A : 1 and 4 only

B : 2 and 3 only

C : 3 and 4 only

D : 1, 2, and 4 only

Answer: D

Question 4

As a matter of policy, the chief audit executive routinely rotates internal audit staff assignments and periodically interviews the staff to discuss the potential for conflicts of interest. These actions help fulfill which of the following internal audit mandates?

A : Organizational independence.

B : Professional objectivity.

C : Due professional care.

D : Individual proficiency.

Answer: B

Question 5

Which of the following actions would be characterized as a preventive control to safeguard inventory from the risk of theft?

1. Locking doors and physically securing inventory items.

2. Independently observing the receipt of materials.

3. Conducting monthly inventory counts.

4. Requiring the use of employee ID badges at all times.

A : 1 and 3.

B : 1 and 4.

C : 2 and 3.

D : 2 and 4.

Answer: B

Name:	Certification in Risk Management Assurance
Exam Code:	IIA-CRMA-ADV
Certification:	Certification in Risk Management Assurance
Vendor:	IIA
Total Questions:	283
Last Updated:	Apr 23, 2024

IIA IIA-CRMA-ADV