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
Which of the following does not need to be defined in the internal audit charter?
- A . The audit engagements to be performed during the upcoming year.
- B . The internal audit activity’s position within the organization.
- C . The scope of internal audit activities.
- D . Management and the board of directors’ agreement regarding the roles and responsibilities of the internal audit activity.
Which of the following does not need to be defined in the internal audit charter?
- A . The audit engagements to be performed during the upcoming year.
- B . The internal audit activity’s position within the organization.
- C . The scope of internal audit activities.
- D . Management and the board of directors’ agreement regarding the roles and responsibilities of the internal audit activity.
Cost of the engagement versus the potential benefits.
- A . 1 and 4 only
- B . 2 and 3 only
- C . 2, 3, and 4 only
- D . 1, 2, 3, and 4
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.
According to IIA guidance, which of the following best describes processes and tools typically used in ongoing internal assessments?
- A . Benchmarking of the internal audit activity’s practices and performance.
- B . Report of internal assessment results, response plans, and outcomes.
- C . Analysis of performance metrics such as cycle times.
- D . Self-assessments and surveys of stakeholder groups.
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.
Which of the following would provide the best evidence of errors in the quantities of items received from suppliers?
- A . Suppliers’ reports of over shipments.
- B . Warehouse receiving logs.
- C . Purchase requisitions and purchase orders.
- D . Observation and inspection of inventory.
Management of a publicly-held organization requires the internal audit activity to be involved with quarterly financial statements, which are made public and used internally.
Which of the following explanations of management’s decision is least plausible?
- A . Management may be concerned about its reputation in the financial markets.
- B . Management is following best-practice protocol, as stipulated by the Standards, which states that internal auditors must review quarterly financial statements.
- C . Management may be concerned about potential penalties that could occur if quarterly financial statements are misstated.
- D . Management may perceive that having quarterly financial information examined by the internal auditors enhances the information’s value to internal decision making.
Which of the following is a second line of defense in effective risk management and control?
- A . Purchasing department.
- B . Compliance department.
- C . Credit department.
- D . Internal audit department.
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.
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