IIA-CRMA-ADV

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.View...

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 onlyB . 1 and 4 onlyC . 2 and 3 onlyD . 3 and 4 onlyView AnswerAnswer: A

The chief audit executive (CAE) of a mid-sized pharmaceutical organization has operational responsibility for the regulatory compliance function. The auditcommittee requests an assessment of regulatory compliance. According to IIA guidance, which of the following is the CAE's best course of action?A . Have a proficient internal audit staff member perform...

Which of the following is the most effective strategy to manage the risk of foreign exchange losses due to sales to foreign customers?A . Hire a risk consultant.B . Implement a hedging strategy.C . Maintain a large foreign currency balance.D . Insist that customers only pay in a stable currency.View...

To identify potential efficiency improvements.A . 1 and 2.B . 1 and 3.C . 2 and 4.D . 3 and 4.View AnswerAnswer: D

Which of the following would be considered a preventive control?A . A library control log.B . A review of exception reports.C . A password lock on a server.D . A software scan of financial records for irregularities.View AnswerAnswer: C

Which of the following actions does not violate the IIA Code of Ethics or Standards?A . An internal auditor performing an audit on an operation that they managed less than a year ago.B . An internal auditor performing an audit on procedures that they were responsible for creating.C . An...

According to the Standards, for how long should internal auditors who have previously performed or had management responsibility for an operation wait to become involved in future internal audit activity with that same operation?A . Three months.B . Six months.C . One year.D . Two years.View AnswerAnswer: C

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...

Which of the following decisions made during the testing phase of a compliance audit requires the most judgment by an internal auditor?A . Which sampling methodology to select for testing.B . Which fields to examine on each invoice.C . Whether an individual expenditure is allowable.D . What level of noncompliance...