IIA-CRMA

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...

According to IIA guidance, which of the following objectives of an assurance engagement for the organization's risk management process is valid?A . All risks have been identified and mitigated.B . Risks have been accurately analyzed and evaluated.C . All controls are both adequate and efficient.D . The board is appropriately...

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.View AnswerAnswer: A

An organization's chief audit executive (CAE) determines that the internal audit staff does not have the requisite skills to conduct an audit of the financial derivatives area. Which of the following would be the best course of action for the CAE to follow?A . Outsource the audit engagement to a...

According to IIA guidance, which of the following individuals would best be considered independent for the purpose of participating in an external assessment of the quality assurance and improvement program for an internal audit activity (IAA)? A. A former employee knowledgeable of the IAA who resigned three years earlier from...

Which of the following is not a standard technique that the chief audit executive (CAE) would use to provide evidence of supervisory review of working papers?A . The CAE initials and dates every working paper after it has been reviewed.B . The CAE completes an engagement working paper checklist.C ....

Which type of objectives can best be described as broad goals that promote the effective and efficient use of resources?A . Strategic objectives.B . Operational objectives.C . Reporting objectives.D . Compliance objectives.View AnswerAnswer: B

A staff auditor, nearly finished with an audit engagement, discovers that the director of marketing has a gambling habit. The gambling issue is not directly related to the existing engagement, and there is pressure to complete the current engagement. The auditor notes the problem and forwards the information to the...

The last quality assessment of the internal audit activity identified three areas for improvement: the achievement of audit engagement objectives, quality of work, and staff development. According to IIA guidance, which of the following should be the chief audit executive's primary focus to achieve these recommended improvements?A . Demonstrated compliance...

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...