IIA IIA-CRMA-ADV Online Practice Questions and Exam Preparation

IIA IIA-CRMA-ADV Online Questions & Answers

• Question 101:

  An organization has implemented a new automated payroll system that contains a table of pay rates that are matched to employee job classifications. Which control should an internal auditor suggest in order to ensure that the table is updated correctly, and is used only for valid pay changes?

  A. Restrict data-table access from management and line supervisors who have the authority to determine pay rates.
  B. Require a supervisor in the department, who has the ability to change the table, to compare the changes to a signed management authorization.
  C. Ensure that adequate edit and reasonableness checks are built into the automated system.
  D. Require a manager, who is independent of the system and who cannot change the table, to authorize and sign-off on any employee pay changes.
  D. Require a manager, who is independent of the system and who cannot change the table, to authorize and sign-off on any employee pay changes.

• Question 102:

  Which of the following actions does not violate the IIA Code of Ethics or Standards?

  A. An internal auditor performing an audit on an operation that they managed less than a year ago.
  B. An internal auditor performing an audit on procedures that they were responsible for creating.
  C. An internal auditor disclosing details of an audit report to colleagues from a different organization.
  D. An internal auditor disclosing confidential information in response to a lawsuit.
  D. An internal auditor disclosing confidential information in response to a lawsuit.

• Question 103:

  A furniture manufacturer has installed a new fire sprinkler system at its central warehouse and canceled the existing fire insurance policy on that property. What change of risk response strategy does this course of action most likely reflect?

  A. From sharing to reduction.
  B. From acceptance to reduction.
  C. From sharing to avoidance.
  D. From acceptance to avoidance.
  A. From sharing to reduction.

• Question 104:

  Given the highly technical and legal nature of privacy issues, which of the following statements best describes the internal audit activity's responsibility with regard to assessing an organization's privacy framework?

  A. If an organization does not have a mature privacy framework, the internal audit activity should assist in developing and implementing an appropriate privacy framework.
  B. Because the audit committee is ultimately responsible for ensuring that appropriate control processes are in place to mitigate risks associated with personal information, the internal audit activity is C. required to conduct privacy assessments.
  C. The internal audit activity may delegate to nonaudit IT specialists the responsibility of determining whether personal information has been secured adequately and data protection controls are sufficient.
  D. The internal audit activity should have appropriate knowledge and competence to conduct an asses .......framework.
  D. The internal audit activity should have appropriate knowledge and competence to conduct an asses .......framework.

• Question 105:

  Which of the following does not need to be defined in the internal audit charter?

  A. The audit engagements to be performed during the upcoming year.
  B. The internal audit activity's position within the organization.
  C. The scope of internal audit activities.
  D. Management and the board of directors' agreement regarding the roles and responsibilities of the internal audit activity.
  A. The audit engagements to be performed during the upcoming year.

• Question 106:

  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. Attending annual professional conferences and seminars.
  B. Participating in on-the-job training in various departments of the organization.
  C. Pursuing as many professional certifications as possible.
  D. Maintaining membership in The HA and similar professional organizations and subscribing to relevant email updates or news feeds.
  D. Maintaining membership in The HA and similar professional organizations and subscribing to relevant email updates or news feeds.

• Question 107:

  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. Report the deviations immediately to the audit committee.
  B. Gather additional information to determine the cause of the deviations.
  C. Conclude that the budget was unreasonably set and accept the deviations.
  D. Perform alternative forms of analytical procedures which provide no deviations.
  B. Gather additional information to determine the cause of the deviations.

• Question 108:

  Which of the following statements is true about The IIA Global Internal Audit Competency Framework?

  A. The core competencies outlined in the framework are not expected of a person undertaking an entry-level position as an internal auditor.
  B. The framework is designed to be used primarily by chief audit executives that are developing indicators to measure the performance of the internal audit activity for which they are responsible.
  C. The framework lists the core competencies internal auditors should possess before attempting to attain The IIA's Certified Internal Auditor certification.
  D. The framework describes competencies needed for individual internal auditors, but not those necessary at the chief audit executive level.
  B. The framework is designed to be used primarily by chief audit executives that are developing indicators to measure the performance of the internal audit activity for which they are responsible.

• Question 109:

  In which of the following scenarios would the chief audit executive (CAE) be required to decline the assignment?

  A. The CAE would need to procure external services to deliver the internal audit assurance program.
  B. There is no expertise within the internal audit team for detecting and investigating fraud.
  C. There is no expertise within the internal audit team for auditing an IT engagement.
  D. There is no available expertise on the internal audit team to perform a consulting engagement.
  B. There is no expertise within the internal audit team for detecting and investigating fraud.

• Question 110:

  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. Graph A only
  B. Graph B only
  C. Both A and B.
  D. Neither A nor B.
  C. Both A and B.