Online Access Free IIA.IIA-CRMA-ADV.v2023-07-19.q136 Practice Test (Page 28)

IIA-CRMA-ADV Exam Question 131

Which of the following conditions is the most likely indicator of fraud?

A.Commissions are paid based on verified increases to sales.

B.Lower earnings occur during the industry's down cycle.

C.A manager regularly assumes subordinates' duties.

D.Departmental reports are consistently issued in an untimely manner.

IIA-CRMA-ADV Exam Question 132

Which of the following best demonstrates the authority of the internal audit activity?

A.Improving the integrity of information.

B.Determining the scope of internal audit services.

C.Achieving engagement objectives.

D.Suggesting alternatives to decision makers.

IIA-CRMA-ADV Exam Question 133

According to IIA guidance, which of the following best describes internal auditors' responsibility regarding fraud?

A.Internal auditors must have sufficient knowledge to evaluate the risk of fraud.

B.Internal auditors should report all fraud cases to law enforcement agents, in accordance with the Code of Ethics.

C.Internal auditors should take a leading role in investigating all fraud-related cases.

D.Internal auditors are responsible for ensuring that fraud does not occur.

IIA-CRMA-ADV Exam Question 134

An internal auditor is performing analytical reviews as part of an audit of a supermarket's merchandising department. Because the economy has declined since midyear, the auditor can expect to encounter which of the following?

A.Higher operating margin.

B.Lower sales volume.

C.Lower obsolete stock disposal.

D.Higher inventory turnover.

IIA-CRMA-ADV Exam Question 135

An organization's chief audit executive (CAE) determines that the internal audit staff does not have the requisite skills to conduct an audit of the financial derivatives area. Which of the following would be the best course of action for the CAE to follow?

A.Outsource the audit engagement to a qualified external auditing firm without burdening the audit committee with the decision.

B.Determine the requisite knowledge needed, and obtain the proper training for auditors, even if the training will significantly push back the project's timeframe as outlined by the audit committee.

C.Employ the skills of a financial derivatives expert to consult on the project, and supplement the consulting with a local seminar on financial derivatives.

D.Notify the audit committee of the problem, and assign the most competent auditors on staff to perform the audit engagement.

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IIA-CRMA-ADV Exam Question 131

IIA-CRMA-ADV Exam Question 132

IIA-CRMA-ADV Exam Question 133

IIA-CRMA-ADV Exam Question 134

IIA-CRMA-ADV Exam Question 135

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