IIA-CRMA-ADV exam

Justified and necessary, according to the IIA Code of Ethics and Standards.A . 1 onlyB . 2 onlyC . 3 onlyD . 1 and 2 onlyView AnswerAnswer: C

Why are preventative controls generally preferred to detective controls?A . Because preventive controls promote doing the right thing in the first place, and lessen the need for corrective action.B . Because preventive controls are more sensitive and identify more exceptions than detective controls.C . Because preventive controls include output procedures,...

During an account receivables audit, an internal auditor found a significant number of input errors resulting in a $500, 000 balance understatement. Which of the following is the most important question the internal auditor should ask to develop an appropriate recommendation for this finding?A . Who?B . How?C . Why?D...

Which of the following would be considered a preventive control?A . A library control log.B . A review of exception reports.C . A password lock on a server.D . A software scan of financial records for irregularities.View AnswerAnswer: C

After being terminated due to downsizing, an internal auditor finds a different job with an organization in the same industry. Which of the following actions would violate the IIA Code of Ethics?A . To determine audit priorities in the new job, the auditor uses the audit risk approach that the...

An internal auditor finds during an engagement that payment for the organization's general insurance policy is two months overdue. The issue is informally mentioned tothe finance department which immediately submits the invoice for payment. The auditor decides to exclude this finding from the final audit report as the oversight was...

Which of the following would not be a red flag for fraud?A . Several recent, large expenditures to a new vendor have not been documented.B . A manager has bragged about multiple extravagant vacations taken within the last year, which are excessive relative to the manager's salary.C . A weak...

Justified and necessary, according to the IIA Code of Ethics and Standards.A . 1 onlyB . 2 onlyC . 3 onlyD . 1 and 2 onlyView AnswerAnswer: C

End user security is inadvertently granted to an unauthorized individual by management.A . 1 and 3.B . 1 and 4.C . 2 and 3.D . 2 and 4.View AnswerAnswer: A

Which of the following would provide the best guidance to a chief audit executive who is setting internal audit staff requirements?A . A review of audit staff education and training records.B . Information about the audit staff size and composition of comparable organizations.C . Results from discussions of audit needs...