IIA-CRMA-ADV V1

Which of the following audit techniques is used to evaluate control design while also embodying auditing's analytical process?A . A risk and control matrix.B . A flowchart.C . A walk-through.D . A process narrative.View AnswerAnswer: A

A computer system automatically locks a user's account after three unsuccessful attempts to log on. Which type of control does this scenario represent?A . Corrective control.B . Preventive control.C . Detective control.D . Compensating control.View AnswerAnswer: B

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...

Which of the following statements is true regarding the use of non-statistical sampling in auditing control tests?A . It considers tolerable deviation rate more effectively than does statistical sampling.B . Sampling risk will be accurately quantified through non-statistical sampling.C . Non-statistical sample results must be projected to the population.D ....

Which of the following is a preventive control?A . Creating an audit trail.B . Placing controls on physical access to inventory.C . Reconciling purchase orders with approvals.D . Reviewing expense accounts for irregularities.View AnswerAnswer: B

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....

A new chief audit executive (CAE) of a large internal audit activity (IAA) is dissatisfied with the current amount and quality of training being provided to the staff and wishes to implement improvements. According to IIA guidance, which of the following actions would best help the CAE reach this objective?A...

While reviewing first quarter sales transactions, an internal auditor discovered that 10 invoices for a new customer had not been posted into the accounts receivable subsidiary ledger. Those 10 invoices were listed in an error report automatically generated by the sales processing system. The system had rejected the invoices because...

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...

The chief audit executive (CAE) has been asked to manage the regulatory compliance function for the organization's retail store operations. Store operations are included in the annual audit plan. Which of the following strategies best fulfills the requirements of the Standards regarding these audits?A . The scope of store operations...