[Mar 07, 2022] Powerful IIA-CRMA PDF Dumps for IIA-CRMA Questions
Authentic IIA-CRMA Dumps - Free PDF Questions to Pass
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NEW QUESTION 97
Which of the following would not be considered part of preliminary survey of an engagement area?
- A. Functional walk through test.
- B. Interviews with individuals affected by the entity.
- C. Analytical reviews.
- D. Sampling scope.
Answer: D
NEW QUESTION 98
The chief audit executive (CAE) has assigned an internal auditor to an upcoming engagement. Which of the following requirements would most likely indicate that the internal auditor was assigned to an assurance engagement?
- A. The assigned internal auditor must determine the objectives, scope, and techniques of the engagement.
- B. The assigned internal auditor must maintain objectivity while performing the engagement.
- C. The assigned internal auditor must not assume management responsibilities while performing the engagement.
- D. The CAE must personally obtain the needed skills, knowledge, or other competencies if the internal auditor does not have them.
Answer: A
NEW QUESTION 99
After being terminated due to downsizing, an internal auditor finds a different job with an organization in the same industry. Which of the following actions would violate the IIA Code of Ethics?
- A. At the new organization, the auditor is asked to develop forms to implement probability-proportional-to-size sampling. Although unsure of how to perform this type of sampling, the auditor proceeds without asking for assistance.
- B. In preparing for an audit at the previous organization, the auditor had conducted a great deal of research on the Internet at home to identify best practices for the management of a treasury function. The auditor has retained much of the research and uses it to conduct an audit of the new employer's treasury function.
- C. To determine audit priorities in the new job, the auditor uses the audit risk approach that the auditor's previous employer used, without receiving permission to do so.
- D. In the first week at the new organization, the auditor discovers a high fraud risk surrounding the organization's database and suggests that the information technology department implement a new password system to prevent fraudulent actions before they occur.
Answer: A
NEW QUESTION 100
An internal auditor is conducting an assessment of the organization's fraud prevention program using the COSO enterprise risk management framework. According to this framework, which of the following activities would fall under the control environment component for preventing fraud?
1. The organization uses an automated authority approval matrix to control payments.
2. The organization has a whistleblower hotline that is available to employees.
3. Annually, every manager completes a comprehensive fraud assessment of his or her department.
4. Annually, the organization reviews and communicates the code of expected behavior.
- A. 1 and 3.
- B. 2 and 4.
- C. 1 and 2.
- D. 2 and 3.
Answer: B
NEW QUESTION 101
Which of the following would provide the best evidence of errors in the quantities of items received from suppliers?
- A. Purchase requisitions and purchase orders.
- B. Warehouse receiving logs.
- C. Suppliers' reports of over shipments.
- D. Observation and inspection of inventory.
Answer: B
NEW QUESTION 102
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. Contract with a third-party entity or external auditor to complete the assessment and report the results to senior management and the board.
- B. Have a regulatory compliance staff member perform a self-assessment, to be reviewed by a proficient internal auditor.
- 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 proficient internal audit staff member perform the assessment and disclose the impairment in the audit report and to the board.
Answer: A
NEW QUESTION 103
Which of the following is an example of a detective control?
- A. Safety instructions.
- B. Confirmation with suppliers and vendors.
- C. Automatic shut-off valve.
- D. Auto-correct software functionality.
Answer: B
NEW QUESTION 104
Which of the following scenarios best illustrates the principle of due professional care?
- A. An internal auditor has been given sufficient authority to access documents needed to make an appraisal of an issue.
- B. An internal auditor declares that he would have a conflict of interest in providing planned audit support.
- C. An internal auditor uses technology-based audit techniques to ensure that all significant risks are identified.
- D. An internal auditor evaluates the significant risks arising from a consulting engagement.
Answer: D
NEW QUESTION 105
Which of the following techniques would best assist an internal auditor in evaluating the efficiency of a wholesale grocery distributor`s process to fill and package orders for shipping?
- A. A Bedford analysis of orders filled to average delivery times.
- B. Decision trees rating actual performance against requirements.
- C. Queuing theory to assess potential bottlenecks in the process.
- D. A program evaluation and review technique chart.
Answer: C
NEW QUESTION 106
A manufacturing organization discovers that the waste water released has failed to meet permitted limits.
Which control function will be least effective in correcting the issue?
- A. Performing a chemical analysis of the water, prior to discharge, for components specified in the permit.
- B. Establishing a preventive maintenance program for the pretreatment system.
- C. Diluting pollutants by flushing sinks and floor drains daily with large volumes of clean water.
- D. Posting signs that tell employees which substances may be disposed of via sinks and floor drains within the facility.
Answer: C
NEW QUESTION 107
Which of the following must be in existence as a precondition to developing an effective system of internal controls?
- A. A monitoring process.
- B. A risk assessment process.
- C. A strategic objective-setting process.
- D. An information and communication process.
Answer: B
NEW QUESTION 108
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 audit manager conducts an internal quality assessment of the internal audit activity's adherence to the Standards.
- B. The internal auditor reviews the physical access to merchandise during an inventory count.
- C. The board approves the annual performance evaluation of the chief audit executive.
- D. The audit manager refrains from assigning an auditor who was a former payroll clerk to conduct a payroll audit.
Answer: B
NEW QUESTION 109
An internal auditor notes that employees are able to download files from the internet. According to IIA guidance, which of the following strategies would best protect the organization from the risk of copyright infringement and licensing violations resulting from this practice?
- A. Install a software inventory management application.
- B. Utilize dedicated and encrypted network connections.
- C. Apply antivirus and patch management software.
- D. Utilize secure socket layer encryption.
Answer: A
NEW QUESTION 110
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. Individual proficiency.
- D. Due professional care.
Answer: B
NEW QUESTION 111
An IT contractor applied for an internal audit position at a bank. The contractor worked for the bank's IT security manager two years ago. If the audit manager interviewed the contractor and wants to extend a job offer, which of the following actions should the chief audit executive pursue?
- A. Allow the audit manager to hire the contractor and state that the individual is free to perform IT audits, including security.
- B. Not allow the audit manager to hire the contractor and ask the individual to apply again in one year.
- C. Not allow the audit manager to hire the contractor, as it would be a conflict of interest.
- D. Allow the audit manager to hire the contractor, but state that the individual is not allowed to work on IT security audits for one year.
Answer: A
NEW QUESTION 112
An internal audit team is performing an audit of workplace accident claims.
Which of the following actions by the audit team best demonstrates due professional care?
- A. Having an occupational health officer on the engagement team.
- B. Placing reliance on medical reports from the injured worker's doctor.
- C. Determining that the claims have been classified properly.
- D. Reviewing claims to ensure all accidents actually occurred in the workplace.
Answer: A
NEW QUESTION 113
Which of the following controls is not appropriate for sales in a manufacturing organization?
- A. Goods shipped are matched with valid customer orders.
- B. Goods returned are inspected for damage by the receiving department for proper disposition.
- C. Sales department approval is required for credit sales transactions.
- D. Customers' orders are recorded promptly.
Answer: C
NEW QUESTION 114
According to The IIA's Code of Ethics, which of the following statements is true?
- A. When an internal auditor limits the scope of the audit engagement after learning that management is hiding relevant information, he demonstrates integrity.
- B. When an internal auditor continues with an audit engagement, despite the audit client's claims that the work performed is unnecessary and redundant he fails to demonstrate competency.
- C. When an internal auditor disagrees with the treatment received by workers in the organization's foreign subsidiary and alters the audit program to highlight the issue, he fails to demonstrate objectivity.
- D. When an internal auditor releases required information to a regulator, resulting in a significant loss through fines and penalties for the organization, he fails to add value.
Answer: C
NEW QUESTION 115
Which of the following actions does not violate the IIA Code of Ethics or Standards?
- A. An internal auditor performing an audit on procedures that they were responsible for creating.
- B. An internal auditor disclosing confidential information in response to a lawsuit.
- C. An internal auditor disclosing details of an audit report to colleagues from a different organization.
- D. An internal auditor performing an audit on an operation that they managed less than a year ago.
Answer: B
NEW QUESTION 116
A government agency's policy states that board members' travel and hospitality expenses must be audited annually. Which of following people or groups is most appropriate to perform this audit?
- A. The agency's chief compliance officer.
- B. The external auditors from an accounting firm.
- C. The government's independent auditor.
- D. The internal audit activity.
Answer: C
NEW QUESTION 117
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