Online Access Free IIA-CRMA-ADV Exam Questions

Which of the following is the best way to detect fraud?

• A.Implement process controls.
• B.Conduct anti-fraud training.
• C.Activate a whistleblower hotline.
• D.Perform background investigations.

The chief audit executive (CAE) of a mid-sized pharmaceutical organization has operational responsibility for the regulatory compliance function. The auditcommittee requests an assessment of regulatory compliance.
According to IIA guidance, which of the following is the CAE's best course of action?

• A.Have a regulatory compliance staff member perform a self-assessment, to be reviewed by a proficient internal auditor.
• B.Have a proficient internal audit staff member perform the audit and report the results of the assessment directly to senior management and the board.
• C.Have a proficient internal audit staff member perform the assessment and disclose the impairment in the audit report and to the board.
• D.Contract with a third-party entity or external auditor to complete the assessment and report the results to senior management and the board.

Which of the following must be in existence as a precondition to developing an effective system of internal controls?

• A.A risk assessment process.
• B.A monitoring process.
• C.An information and communication process.
• D.A strategic objective-setting process.

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?

• A.She may participate for training purposes, to build her knowledge of the IAA.
• B.She may participate, because she did not previously work in the Human Resources Department.
• C.She may participate, but she must be supervised by the auditor in charge.
• D.She may participate, but only after she has completed one year with the IAA.

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.Employees are submitting fraudulent expense reports.
• B.An employee is tampering with customer checks.
• C.Invoices are not being mailed to customers.
• D.The customer service department is not forwarding complaints to the accounts receivable department.