IIA-CRMA-ADV exam

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

Which of the following scenarios exemplifies a potential internal control weakness?A . The same employee who receives cash from customers prepares a prelisting of cash receipts.B . The same employee who records cash receipts in the accounts receivable subsidiary ledger ensures that the ledger automatically updates the information.C . The...

An internal auditor for a large retail chain suspects that a store manager has been stealing money from cash sales by listing the sales as accounts receivable and then writing off the accounts as bad debts. Which of the following irregularities is the most likely cause of the auditor's suspicion?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...

Which of the following best describes the assessment of risks?A . Assess the actions necessary to reduce the likelihood and/or impact of risk to tolerable levels.B . Assess the likelihood and/or impact of risk on the achievement of organizational objectives.C . Assess the amount of risk an organization can accept...

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