IIA-CRMA

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

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...

Cost of the engagement versus the potential benefits.A . 1 and 4 onlyB . 2 and 3 onlyC . 2, 3, and 4 onlyD . 1, 2, 3, and 4View AnswerAnswer: C

The audit committee is concerned that the small size of the internal audit activity (IAA) makes it impractical to achieve full conformance with the Standards. To address this concern, which of the following actions is most appropriate for the CAE to take? A. The CAE should agree with the audit...

An internal audit charter describes the mission and scope of the internal audit activity (IAA), responsibilities of the IAA, accountability of the chief audit executive, independence of the IAA, and standards followed by the IAA. Which of the following also should be included in the charter? A. The purpose of...

Management of a publicly-held organization requires the internal audit activity to be involved with quarterly financial statements, which are made public and used internally. Which of the following explanations of management's decision is least plausible?A . Management may be concerned about its reputation in the financial markets.B . Management is...

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

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.View AnswerAnswer: B

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

A government agency's policy states that board members' travel and hospitality expenses must be audited annually. Which of following people or groups is most appropriate to perform this audit?A . The government's independent auditor.B . The external auditors from an accounting firm.C . The internal audit activity.D . The agency's...