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

IIA IIA-CRMA-ADV Online Questions & Answers

• Question 161:

  Which of the following are components of the COSO enterprise risk management framework?

  1.

  Objective setting.

  2.

  External environment.

  3.

  Data collection.

  4.

  Control activities.

  A. 1 and 3 only
  B. 1 and 4 only
  C. 2 and 3 only
  D. 2 and 4 only
  B. 1 and 4 only

• Question 162:

  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, as it would be a conflict of interest.
  C. 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.
  D. Not allow the audit manager to hire the contractor and ask the individual to apply again in one year.
  A. Allow the audit manager to hire the contractor and state that the individual is free to perform IT audits, including security.

• Question 163:

  A chief audit executive (CAE) of an international charity reports functionally to the audit committee of the board of directors and administratively to the charity's chief financial officer (CFO).

  Which of the following would impair the internal audit function's independence?

  A. The CFO determines the scope of internal audit work in the accounting department.
  B. The CFO manages the accounting of the budget for the internal audit function.
  C. The CFO administers the annual evaluation process for the internal auditors.
  D. The CFO provides feedback on the CAE's audit reports.
  A. The CFO determines the scope of internal audit work in the accounting department.

• Question 164:

  Which of the following is a detective control strategy against fraud?

  A. Requiring employees to attend ethics training.
  B. Performing background checks on employees.
  C. Implementing a control self-assessment.
  D. Performing a surprise audit.
  D. Performing a surprise audit.

• Question 165:

  Reviewing prior audit reports and supporting workpapers before an engagement starts enables an internal auditor to do which of the following?

  1.

  To understand better the activity and processes that will be audited.

  2.

  To identify the audit procedures that will be used during the engagement.

  3.

  To ensure that matters of greatest vulnerability will be addressed.

  4.

  To use the information obtained as evidence in the current engagement.

  A. 4 only
  B. 1 and 3 only
  C. 1 and 4 only
  D. 2, 3, and 4 only
  B. 1 and 3 only

• Question 166:

  Which of the following factors should be considered when determining the appropriate combination of manual techniques and computer-assisted audit techniques (CAATs) to be used during an audit?

  1.

  Acceptance of CAATs findings by entity management.

  2.

  Computer knowledge and expertise of the auditor.

  3.

  Time constraints.

  4.

  Level of audit risk.

  A. 1 and 4
  B. 2 and 3 only
  C. 1, 2, and 3
  D. 2, 3, and 4
  D. 2, 3, and 4

• Question 167:

  According to IIA guidance, which of the following describes the primary reason to implement environmental and social safeguards within an organization?

  A. To enable Triple Bottom Line reporting capability.
  B. To facilitate the conduct of risk assessment.
  C. To achieve and maintain sustainable development.
  D. To fulfill regulatory and compliance requirements.
  C. To achieve and maintain sustainable development.

• Question 168:

  An internal audit charter should do which of the following?

  A. Outline the schedule of future audits.
  B. Define the scope of internal audit activities.
  C. Establish the size of the internal audit activity.
  D. Communicate the internal audit activity's goals.
  B. Define the scope of internal audit activities.

• Question 169:

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

• Question 170:

  Which of the following is not an appropriate activity for internal auditors to perform?

  A. Recommend management seek a consulting firm to advise on outsourcing.
  B. Highlight matters that require management's attention.
  C. Implement solutions for specific organizational problems.
  D. Accumulate data, obtain varying views, and report information to senior management.
  C. Implement solutions for specific organizational problems.