IIA Certification in Risk Management Assurance (CRMA) - IIA-CRMA Exam Practice Test
An internal auditor is using a spreadsheet application to review a cash flow forecast prepared by management.
Which of the following correctly identifies the type of evidence this information represents?
Which of the following correctly identifies the type of evidence this information represents?
Correct Answer: B
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Which of the following types of social responsibilities is voluntary and guided purely by the organization's desire to make social contributions?
Correct Answer: A
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Which of the following professional development approaches would offer internal auditors the most opportunities to broaden their engagement experiences?
Correct Answer: C
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Which of the following controls is not appropriate for sales in a manufacturing organization?
Correct Answer: B
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While preparing for an audit of senior management expenses, the chief audit executive (CAE) learns that management is unable to locate a number of original expense claims to support the related disbursements. She decides to defer the engagement until they can be located. Which of the following principles likely guided the CAE's decision?
Correct Answer: D
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Which of the following actions indicates a lack of due professional care by an internal auditor performing an audit of a store's cash function?
Correct Answer: D
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Which of the following statements is true regarding the use of non-statistical sampling in auditing control tests?
Correct Answer: D
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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?
Correct Answer: C
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During an audit engagement, the internal auditor discussed a risk mitigation recommendation with the manager of the area under review. The manager disagreed with the risk assessment and recommendation. The two failed to come up with an alternative solution, and the auditor decided to proceed with including the original recommendation in the engagement report. Which of the following is especially important in dealing with this type of situation?
Correct Answer: A
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While reviewing first quarter sales transactions, an internal auditor discovered that 10 invoices for a new customer had not been posted into the accounts receivable subsidiary ledger. Those 10 invoices were listed in an error report automatically generated by the sales processing system. The system had rejected the invoices because the customer's account number was not found in the customer master file. In this scenario, which of the following controls was lacking?
Correct Answer: C
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According to IIA guidance, which of the following is the best example of a system application control?
Correct Answer: D
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Which of the following is a second line of defense in effective risk management and control?
Correct Answer: C
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Which of the following would most likely be considered a red flag for fraud?
Correct Answer: B
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A former line supervisor from the Financial Services Department has completed six months of a two-year development opportunity with the internal audit activity (IAA). She is assigned to a team that will audit the organization's payroll function, which is managed by the Human Resources Department. Which of the following statements is most relevant regarding her independence and objectivity with respect to the payroll audit?
Correct Answer: A
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