IIA-CRMA-ADV exam

Which of the following would most likely be considered a red flag for fraud?A . An organization lacks a whistleblower hotline for reporting suspicious activity.B . A senior manager has been delegating the authority to sign-off on small dollar amount purchases to a subordinate.C . An employee in charge of...

If an engagement client disputes that a specific action or process is within the scope of the internal audit activity, what would be the most appropriate way for the internal audit activity (IAA) to respond?A . Terminate the audit engagement in full because an operational audit will not be productive...

A chief audit executive (CAE) of an international charity reports functionally to the audit committee of the board of directors and administratively to the charity's chief financial officer (CFO). Which of the following would impair the internal audit function's independence?A . The CFO determines the scope of internal audit work...

An internal audit manager of a furniture manufacturing organization is planning an audit of the procurement process for kiln-dried wood. The procurement department maintains six procurement officers to manage 24 different suppliers used by the organization. Which of the following controls would best mitigate the risk of employees receiving kickbacks...

Which of the following is not one of the 10 core competencies identified in the IIA Competency Framework?A . Governance, risk, and control.B . Performance management.C . Business acumen.D . Internal audit delivery.View AnswerAnswer: B

During an internal audit, an organization's processing department is found to have incidences of both duplicate invoices and notices from customers that purchased goods were not received. The department under review insists that some of these reports are false and that others were isolated oversights due to understaffing. Which of...

While attending a conference, an internal auditor won an all-expense paid trip sponsored by a vendor of the internal auditor's organization. Which of the following actions are most appropriate for the auditor to take?A . Consult with an immediate supervisor and notify the organization's audit committee.B . Consult with an...

In which of the following scenarios would a customer service hotline receive a high volume of complaints regarding payments not being applied to customers’ accounts?A . Invoices are not being mailed to customers.B . An employee is tampering with customer checks.C . Employees are submitting fraudulent expense reports.D . The...

While attending a conference, an internal auditor won an all-expense paid trip sponsored by a vendor of the internal auditor's organization. Which of the following actions are most appropriate for the auditor to take?A . Consult with an immediate supervisor and notify the organization's audit committee.B . Consult with an...

According to the Standards, for how long should internal auditors who have previously performed or had management responsibility for an operation wait to become involved in future internal audit activity with that same operation?A . Three months.B . Six months.C . One year.D . Two years.View AnswerAnswer: C