IIA-CRMA exam

This chief audit executive (CAE) engaged an internal auditor to consult on an organization's complex information technology system. Shortly after beginning the engagement, the auditor unexpectedly resigned. Unfortunately, this auditor was the only available auditor with the necessary expertise. The CAE will not be able to hire someone with similar...

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...

Which of the following decisions made during the testing phase of a compliance audit requires the most judgment by an internal auditor?A . Which sampling methodology to select for testing.B . Which fields to examine on each invoice.C . Whether an individual expenditure is allowable.D . What level of noncompliance...

Visual observations can assist an auditor in determining if a material observation should be communicated through informal means to the organization’s senior management.A . 1 and 2 onlyB . 1 and 4 onlyC . 2 and 3 onlyD . 3 and 4 onlyView AnswerAnswer: A

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...

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...

Which of the following controls is not appropriate for sales in a manufacturing organization?A . Customers' orders are recorded promptly.B . Goods shipped are matched with valid customer orders.C . Goods returned are inspected for damage by the receiving department for proper disposition.D . Sales department approval is required for...

A candidate has applied for an entry level internal audit position. The candidate holds a CISA (Certified Information Systems Auditor) designation, and has six months of audit experience, but limited knowledge of accounting principles and techniques. According to the IIA guidance, which of the following is the most relevant reason...

The results of an internal audit activity's (IAA) quality assurance and improvement program are favorable and an external assessment was completed within the last five years. Which of the following statements may the IAA use to describe its work?A . "Completed with the advance certification of the External Assessors Association...

Management has asked the chief audit executive (CAE) to provide assurance on the organization's automated control system related to financial data. The current audit staff does not have the expertise needed to conduct this type of engagement. Which of the following would be the best response by the CAE?A ....