Grab latest IIA IIA-CRMA Dumps as PDF Updated on 2021
Newly Released IIA-CRMA Dumps for CRMA Certification Certified
IIA IIA-CRMA Exam Syllabus Topics:
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NEW QUESTION 121
An organization is beginning to implement an enterprise risk management program. One of the first steps is to develop a common risk language. Which of the following statements about a common risk language is true?
- A. Stakeholders will have more assurance that the risks are assessed consistently.
- B. Internal auditors will be able to reduce their sample sizes because controls will be more consistent.
- C. Management will be able to reduce inherent risk because they will have a better understanding of risk.
- D. Decision makers will understand that the likelihood of missing or ineffective controls will be reduced.
Answer: A
NEW QUESTION 122
A manufacturing line supervisor joins the internal audit activity for a two-year rotational job assignment and is assigned to an accounts receivable audit. With regard to this assignment, which of the following should be the primary concern of the audit manager?
- A. Due professional care.
- B. Individual objectivity.
- C. Organizational independence.
- D. Individual independence.
Answer: A
NEW QUESTION 123
A new director was hired to lead the internal audit activity at a small start-up company. Which of the following assignments would impair the director's independence?
- A. Performing a pre-implementation review of the company's payroll application.
- B. Preparing the financial statements for the company's defined contribution plan.
- C. Providing the COBIT framework as a possible IT management tool.
- D. Reviewing the company's policy for foreign currency translation adjustments for compliance with accounting standards.
Answer: B
NEW QUESTION 124
During an internal audit, the internal auditor compares the employee turnover rate in the area being audited with the employee turnover rate in the organization as a whole.
This is an example of which of the following analytical auditing procedures?
- A. Benchmarking.
- B. Reasonableness test.
- C. Regression analysis.
- D. Trend analysis.
Answer: A
NEW QUESTION 125
When conducting an interview, an internal auditor is most likely to ask open-ended questions in order to:
- A. Gather factual data on several different topics.
- B. Obtain specific answers and maximize efficiency.
- C. Obtain information based on the person's own perspective.
- D. Determine agreement or disagreement with a stated viewpoint.
Answer: C
NEW QUESTION 126
The chief audit executive (CAE) is planning to conduct an internal assessment of the internal audit activity (IAA). Part of this assessment will include benchmarking. According to IIA guidance, which of the following qualitative metrics would be appropriate for the CAE to use?
1. Average client customer satisfaction score for a given year.
2. Client survey comments on how to improve the IAA.
3. Auditor interviews once an audit has been completed.
4. Percentage of audits completed within 90 days.
- A. 2 and 3.
- B. 1 and 3.
- C. 1 and 2.
- D. 3 and 4.
Answer: A
NEW QUESTION 127
What should the internal auditor's role be in assessing the organization's ethical climate?
- A. Maintain a whistleblower hotline to identify inappropriate or illegal activity within the organization.
- B. Perform background checks of potential new employees before they are hired by the organization.
- C. Perform ongoing surveys of the employees, customers, and partners of the organization to assess the organization's ethical climate. ^Evaluate the effectiveness of the organization's strategies and B.
processes for achieving the desired level of legal and ethical compliance.
Answer: A
NEW QUESTION 128
Which of the following best describes the details that must be included in the quality assurance and improvement program (QAIP) report to senior management and the board?
- A. The scope and cost of the QAIP. frequency of internal and external assessments, and conclusions of the assessor.
- B. The number and types of people involved in the assessment, costs, and duration of the QAIP
- C. The scope and frequency of internal and external assessments as well as the qualifications and independence of the assessor.
- D. The scope, findings, risks, recommendations, and agreed-upon improvement actions.
Answer: D
NEW QUESTION 129
Which of the following risk management activities is most appropriate for an internal auditor to undertake?
- A. Coordinate risk management activities.
- B. Review the management of key risks.
- C. Implement risk responses on management's behalf.
- D. Impose risk management processes.
Answer: B
NEW QUESTION 130
What is the primary benefit to the internal audit activity for undertaking an internal quality assessment?
- A. To help improve the overall quality of the internal audit activity's work.
- B. To identify inefficiencies within the internal audit team.
- C. To identify key risks and areas of concern within the organization.
- D. To help the internal audit activity complete its annual assurance plan.
Answer: A
NEW QUESTION 131
Which of the following controls could an internal auditor reasonably conclude is effective by observing the physical controls of a large server room?
- A. Servers are secured individually to their racks by locks.
- B. Adequate signs are in place to assist in locating safety equipment.
- C. Foam fire extinguishers are operable to protect against electrical fires.
- D. Swipe card access is required to gain access to the server room.
Answer: B
NEW QUESTION 132
An internal auditor makes a series of observations when performing an analytical review of division operations. The auditor notes the following things: the current ratio is increasing and the quick ratio is decreasing, sales and current liabilities have remained constant, and the number of day sales in inventory is increasing. Which conclusion should the auditor draw from this data?
- A. The division produced fewer items this year than in prior years.
- B. The gross margin has increased.
- C. The gross margin has decreased.
- D. Cash or accounts receivable has decreased.
Answer: D
NEW QUESTION 133
Which of the following is not one of the 10 core competencies identified in the IIA Competency Framework?
- A. Governance, risk, and control.
- B. Internal audit delivery.
- C. Business acumen.
- D. Performance management.
Answer: D
NEW QUESTION 134
According to COSO, which of the following describes a principle related to the control environment?
- A. The organization establishes appropriate authorities and responsibilities in the pursuit of objectives.
- B. The organization selects and develops control activities that contribute to the mitigation of risks.
- C. The organization identifies and assesses changes that could significantly impact the system of internal control.
- D. The organization performs evaluations to ascertain whether internal control components are present and functioning.
Answer: A
NEW QUESTION 135
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 4.
- B. 1 and 3.
- C. 2 and 4.
- D. 2 and 3.
Answer: A
NEW QUESTION 136
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