Practice IIA-CRMA-ADV Exam Online

Question 1

According to IIA guidance, which of the following is not a responsibility of the chief audit executive pertaining to documenting information to support internal audit engagement results and conclusions?

A : Rating each engagement record to assess its relevance and accessibility for the organization's board.

B : Controlling access to engagement records, including access by senior management.

C : Developing retention requirements for engagement records that are consistent with organizational guidelines.

D : Forming policies governing the custody and retention of consulting engagement records before their release to other parties.

Answer: A

Question 2

According to IIA guidance, which of the following must internal auditors consider to conform with the requirements for due professional care during a consulting engagement?

1. The cost of the engagement, as it pertains to audit time and expenses in relation to the potential benefits.

2. The needs and expectation of clients, including the nature, timing, and communication of engagement results.

3. The application of technology-based audit and other data analysis techniques, where appropriate.

4. The relative complexity and extent of work needed to achieve the engagement's objectives.

A : 1, 2, and 3

B : 1, 2, and 4

C : 1, 3, and 4

D : 2, 3, and 4

Answer: B

Question 3

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 4

Which of the following activities best reflects the scope and status of the internal audit activity as defined in the internal audit policy statement?

A : The internal auditor reviews the physical access to merchandise during an inventory count.

B : The audit manager conducts an internal quality assessment of the internal audit activity's adherence to the Standards.

C : The audit manager refrains from assigning an auditor who was a former payroll clerk to conduct a payroll audit.

D : The board approves the annual performance evaluation of the chief audit executive.

Answer: A

Question 5

Which of the following actions best demonstrates that an internal auditor is exercising due professional care?

A : The auditor performs thorough reviews and provides absolute assurance of regulatory compliance.

B : The auditor is alert to the possibility of fraud and activities where irregularities are most likely to occur.

C : The auditor recommends improvements for all of the organization's procedures and practices.

D : The auditor is cognizant of reducing travel expenses by combining a personal vacation with a business trip.

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