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 would most likely be considered a red flag for fraud?
- A . An organization lacks a whistleblower hotline for reporting suspicious activity.
- B . A senior manager has been delegating the authority to sign-off on small dollar amount purchases to a subordinate.
- C . An employee in charge of payroll disbursements has rotated these duties with several colleagues.
- D . An employee with significant personal debt is in charge of handling large wire transfers for the organization.
According to the IIA guidance, who is responsible for periodically assessing the internal audit activity?
- A . The board.
- B . The chief audit executive.
- C . Senior management.
- D . The external auditors.
Which of the following scenarios exemplifies a potential internal control weakness?
- A . The same employee who receives cash from customers prepares a prelisting of cash receipts.
- B . The same employee who records cash receipts in the accounts receivable subsidiary ledger ensures that the ledger automatically updates the information.
- C . The same employee who restrictively endorses checks received from customers prepares the bank’s check deposit slips.
- D . The same employee who makes deposits at the bank prepares the monthly bank reconciliation.
An internal auditor notes that employees are able to download files from the internet.
According to IIA guidance, which of the following strategies would best protect the organization from the risk of copyright infringement and licensing violations resulting from this practice?
- A . Apply antivirus and patch management software.
- B . Utilize dedicated and encrypted network connections.
- C . Install a software inventory management application.
- D . Utilize secure socket layer encryption.
According to IIA guidance, which of the following statements regarding the internal audit charter is true?
- A . Senior management should approve the charter before it is submitted to the board.
- B . The charter should describe the purpose and authority of the internal audit activity, consistent with the Standards.
- C . The charter should define the consulting services that the internal audit activity is permitted to perform.
- D . The CEO periodically should assess whether the terms of the charter continue to be adequate.
Which of the following is an example of a transaction-level control?
- A . Human resource policies.
- B . Tone at the top.
- C . Reconciliations of primary accounts.
- D . Inventory counts.
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.
Management has asked the chief audit executive (CAE) to provide assurance on the organization’s automated control system related to financial data. The current audit staff does not have the expertise needed to conduct this type of engagement.
Which of the following would be the best response by the CAE?
- A . Accept the assignment and use control self-assessment to complete the project.
- B . Do not accept the assignment because the internal audit activity lacks the competency to perform the engagement with due professional care.
- C . Accept the assignment and use an external provider with the necessary knowledge and skills to perform the engagement.
- D . Accept the assignment if the engagement is included in the current audit plan, but inform senior management that the current audit staff does not have the knowledge and skills required.
During an account receivables audit, an internal auditor found a significant number of input errors resulting in a $500, 000 balance understatement.
Which of the following is the most important question the internal auditor should ask to develop an appropriate recommendation for this finding?
- A . Who?
- B . How?
- C . Why?
- D . When?
Which of the following is not a role of the internal audit activity in facilitating risk identification and evaluation?
- A . Evaluating risk management processes.
- B . Recommending accountability for risk management.
- C . Providing assurance that risks are evaluated correctly.
- D . Supporting managers to identify ways to mitigate risks.
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