Online Access Free IIA-CRMA Exam Questions

Which of the following situations is most likely to impair internal audit objectivity?

• A.An internal auditor reports both functionally and administratively to the chief financial officer (CFO).
• B.An internal auditor, who was an accounts receivable intern for the organization three years prior, performs an audit of the accounts receivable cycle.
• C.An internal auditor performs an audit in a department that is led by the auditor's close friend.
• D.According to policy, the internal auditor must obtain approval from the CFO prior to requesting information for internal audit purposes.

Which of the following is an activity that an internal auditor must not perform?

• A.Provide assurance for the effectiveness of anti-money laundering training.
• B.Assess the risk of being fined for ineffective anti-money laundering practices.
• C.Survey employees for their understanding of anti-money laundering practices.
• D.Establish and provide continuing assurance on an anti-money laundering program for new hires.

With regard To IT governance, which of the following is the most effective and appropriate role for the internal audit activity?

• A.Assist management in interpreting complex IT-related privacy and security risk exposures and evaluating potential mitigation strategies.
• B.Assess whether governance activities are aligned with the organization's risk appetite and take into consideration emerging risks.
• C.Evaluate the organization's governance standards and assess IT-related activities to identify gaps and develop policies, ensuring alignment with the organization's risk appetite.
• D.Independently evaluate the skills and experience of potential chief information officer candidates to assess the best fit based on the organization's risk appetite.

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

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

An internal auditor who is carrying out an engagement to review controls related to corporate tax reporting must possess which of the following competencies?
1. Proficiency in analyzing key IT risks and controls.
2. The ability to recognize significant deviations from good business practices.
3. Knowledge of key indicators of fraud in tax reporting.
4. The ability to recognize the existence of problems related to tax accounting.

• A.3 and 4 only.
• B.2, 3, and 4 only.
• C.1,2, 3, and 4.
• D.1 and 4 only.