IIA-CRMA-ADV V1

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.View AnswerAnswer: C

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 ....

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...

Which of the following scenarios would represent the greatest threat to the authority of the internal audit activity (IAA)?A . A change was implemented requiring the IAA to report administratively to the organization's chief legal counsel rather than the board.B . Responsibility for risk management processes were removed from the...

Which of the following is the most significant disadvantage of using checklists to evaluate internal controls?A . They serve as a reminder of what controls should exist in a process.B . They require yes/no responses to specific questions, not open-ended responses.C . They do not capture all controls that may...

What type of risk management strategy is being employed when an organization installs two firewalls to provide protection from unauthorized access to the network?A . Diversifying the risk that network access will not be available to legitimate, authorized users.B . Accepting the risk that there may be attempts at unauthorized...

Which of the following conditions is the most likely indicator of fraud?A . Commissions are paid based on verified increases to sales.B . Departmental reports are consistently issued in an untimely manner.C . A manager regularly assumes subordinates' duties.D . Lower earnings occur during the industry's down cycle.View AnswerAnswer: C

Which of the following audit procedures would provide the most relevant information to identify discrepancies between budgeted versus actual raw material consumption in a production facility?A . Analytical review.B . Inquiry.C . Document verification.D . Observation.View AnswerAnswer: A

Which of the following techniques would best assist an internal auditor in evaluating the efficiency of a wholesale grocery distributor`s process to fill and package orders for shipping?A . A Bedford analysis of orders filled to average delivery times.B . Decision trees rating actual performance against requirements.C . Queuing theory...

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...