IIA IIA-CRMA-ADV Certification in Risk Management Assurance Online Training
IIA IIA-CRMA-ADV Online Training
The questions for IIA-CRMA-ADV were last updated at Mar 09,2025.
- Exam Code: IIA-CRMA-ADV
- Exam Name: Certification in Risk Management Assurance
- Certification Provider: IIA
- Latest update: Mar 09,2025
Why is it important for the chief audit executive to periodically review the audit charter and present the results to senior management and the board?
- A . Because management requires the review to measure effectiveness of the internal audit activity.
- B . So that the individual objectivity of the internal audit staff can be more clearly established.
- C . So that there is assurance of the internal audit staff’s proficiency to complete audit activities.
- D . Because changes in the organization may impair the internal audit activity’s ability to meet its objectives.
Suspecting fraud, the chief financial officer (CFO) asked the internal audit activity to investigate a significant increase in travel related expenditures. Work was performed by a qualified internal auditor. Following the completion of the engagement, the chief audit executive (CAE) reported to the CFO that no violations were found and no fraud had occurred.
According to the Standards, which of the following principles did the CAE violate?
- A . Due professional care.
- B . Individual objectivity.
- C . Proficiency.
- D . Organizational independence.
An accounts receivable clerk receives cash payments, posts the payments to customer accounts, and prepares the daily cash deposit.
The clerk has been stealing some cash and manipulating the customer payments to hide the theft.
This fraud could be detected with which of the following controls?
- A . Monthly bank reconciliations are performed by the clerk on a timely basis.
- B . Total cash deposits for the month are reconciled to the cash receipts journal.
- C . Names, amounts, and dates on remittance advices are reconciled with the names, amounts, and dates recorded in the cash receipts journal.
- D . Total cash deposits are compared with the bank reconciliation.
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.
According to IIA guidance, which of the following is the best example of a system application control?
- A . A physical security control over a data center.
- B . A system development life cycle control.
- C . A program change management control.
- D . An input control over data integrity.
An internal auditor is reviewing employee travel data to identify opportunities to cut costs while ensuring adequate participation at conferences to support the organization’s mission.
Which of the following pieces of evidence would be sufficient for completing this task?
- A . A log from the last year that includes dates of travel, conference titles, and conference objectives, all of which correspond with employee names and costs per trip.
- B . A log that includes titles of conferences that all employees were invited to attend in the last year, along with the dates of those conferences and average costs per traveler.
- C . A log of conferences titles, dates of travel for each employee, and a detailed summary of conference objectives and how they relate to the organization’s mission needs.
- D . A log of employee travel requests, which include the title of each conference, the conference objectives, anticipated dates of travel, and estimated costs.
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.
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.
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.
Why is a code of ethics for the internal audit profession necessary?
- A . It ensures that all members of the profession possess the same level of competence.
- B . It provides auditors with protection from lawsuits.
- C . It guides internal auditors in their service to others.
- D . It requires auditors to exhibit loyalty to their organizations.
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