IIA IIA-CRMA Certification in Risk Management Assurance (CRMA) Exam Online Training
IIA IIA-CRMA Online Training
The questions for IIA-CRMA were last updated at Nov 23,2024.
- Exam Code: IIA-CRMA
- Exam Name: Certification in Risk Management Assurance (CRMA) Exam
- Certification Provider: IIA
- Latest update: Nov 23,2024
Visual observations can assist an auditor in determining if a material observation should be communicated through informal means to the organization’s senior management.
- A . 1 and 2 only
- B . 1 and 4 only
- C . 2 and 3 only
- D . 3 and 4 only
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.
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.
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.
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.
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.
To identify potential efficiency improvements.
- A . 1 and 2.
- B . 1 and 3.
- C . 2 and 4.
- D . 3 and 4.
An internal audit manager of a furniture manufacturing organization is planning an audit of the procurement process for kiln-dried wood. The procurement department maintains six procurement officers to manage 24 different suppliers used by the organization.
Which of the following controls would best mitigate the risk of employees receiving kickbacks from suppliers?
- A . The periodic rotation of procurement officers’ assignments to supplier accounts.
- B . A pre-award financial capacity analysis of suppliers.
- C . An automated computer report, organized by supplier, of any invoices for the same amount.
- D . Periodic inventories of kiln-dried wood at the organization’s warehouse.
What is the primary purpose of a fishbone diagram?
- A . To depict the areas of responsibility for departments in an organization.
- B . To plan and control complex projects, such as internal audits.
- C . To represent the frequencies of adverse conditions in a given process.
- D . To identify the possible causes of adverse conditions.
An organization’s chief audit executive (CAE) determines that the internal audit staff does not have the requisite skills to conduct an audit of the financial derivatives area.
Which of the following would be the best course of action for the CAE to follow?
- A . Outsource the audit engagement to a qualified external auditing firm without burdening the audit committee with the decision.
- B . Determine the requisite knowledge needed, and obtain the proper training for auditors, even if the training will significantly push back the project’s timeframe as outlined by the audit committee.
- C . Notify the audit committee of the problem, and assign the most competent auditors on staff to perform the audit engagement.
- D . Employ the skills of a financial derivatives expert to consult on the project, and supplement the consulting with a local seminar on financial derivatives.
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