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 Nov 26,2024.
- Exam Code: IIA-CRMA-ADV
- Exam Name: Certification in Risk Management Assurance
- Certification Provider: IIA
- Latest update: Nov 26,2024
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 . Cash or accounts receivable has decreased.
- B . The gross margin has decreased.
- C . The division produced fewer items this year than in prior years.
- D . The gross margin has increased.
An internal auditor would like to identify the involvement of various organizational units in handling employee travel reimbursement claims.
Which of the following methods would be most effective and efficient in completing this task?
- A . Process mapping.
- B . Interviewing.
- C . Monitoring.
- D . Distributing questionnaires.
Allegations have been made that an organization’s share price has been manipulated.
Which of the following would provide an internal auditor with the most objective evidence in this case?
- A . Major shareholders of the organization.
- B . Large customers of the organization.
- C . Former members of management.
- D . Former financial consultants.
Which of the following best describes the assessment of risks?
- A . Assess the actions necessary to reduce the likelihood and/or impact of risk to tolerable levels.
- B . Assess the likelihood and/or impact of risk on the achievement of organizational objectives.
- C . Assess the amount of risk an organization can accept while pursuing its objectives.
- D . Assess alternative strategies to reduce or eliminate major risks.
Which of the following is not a standard technique that the chief audit executive (CAE) would use to provide evidence of supervisory review of working papers?
- A . The CAE initials and dates every working paper after it has been reviewed.
- B . The CAE completes an engagement working paper checklist.
- C . The CAE prepares a memorandum discussing the results of the working paper review.
- D . The CAE utilizes an external third party to make an objective recommendation after each working paper review.
Why are preventative controls generally preferred to detective controls?
- A . Because preventive controls promote doing the right thing in the first place, and lessen the need for corrective action.
- B . Because preventive controls are more sensitive and identify more exceptions than detective controls.
- C . Because preventive controls include output procedures, which cover the full range of possible reviews, reconciliations and analysis.
- D . Because preventive controls identify exceptions after-the-fact, allowing them to be used after the entire review is complete and therefore finding exceptions that detective controls may have missed.
Which of the following best ensures an internal audit activity has the ability to render impartial and unbiased assessments?
- A . Organizational status and objectivity.
- B . Supervision of the chief audit executive (CAE) by senior management.
- C . Organizational knowledge and skills.
- D . CAE certification.
Which of the following actions indicates a lack of due professional care by an internal auditor performing an audit of a store’s cash function?
- A . The audit report included a well-supported recommendation for a reduction in staff even though such a reduction might adversely impact morale.
- B . The auditor tested samples of transactions to test the cash function’s process flows.
- C . After determining that the cash function internal controls were strong, the audit report assured senior management that fraud was not present.
- D . The auditor discovered an instance of potential fraud and reported it immediately to management, but did not alert authorities outside the organization.
While attending a conference, an internal auditor won an all-expense paid trip sponsored by a vendor of the internal auditor’s organization.
Which of the following actions are most appropriate for the auditor to take?
- A . Consult with an immediate supervisor and notify the organization’s audit committee.
- B . Consult with an immediate supervisor and review the organization’s ethics policy.
- C . Give the prize to a friend or family member and notitfy the organization’s audit committee.
- D . Give the prize to a friend or family member and review the organization’s ethics policy.
While attending a conference, an internal auditor won an all-expense paid trip sponsored by a vendor of the internal auditor’s organization.
Which of the following actions are most appropriate for the auditor to take?
- A . Consult with an immediate supervisor and notify the organization’s audit committee.
- B . Consult with an immediate supervisor and review the organization’s ethics policy.
- C . Give the prize to a friend or family member and notitfy the organization’s audit committee.
- D . Give the prize to a friend or family member and review the organization’s ethics policy.
Latest IIA-CRMA-ADV Dumps Valid Version with 283 Q&As
Latest And Valid Q&A | Instant Download | Once Fail, Full Refund
