Online Access Free IIA.IIA-CRMA.v2022-12-23.q98 Practice Test (Page 16)

IIA-CRMA Exam Question 71

Which of the following decisions made during the testing phase of a compliance audit requires the most judgment by an internal auditor?

A.Which fields to examine on each invoice.

B.Which sampling methodology to select for testing.

C.What level of noncompliance is acceptable.

D.Whether an individual expenditure is allowable.

IIA-CRMA Exam Question 72

Sometimes, internal audit staff may partner with operating managers to rank risks. Which of the following outcomes may be the most beneficial aspects of this strategy?
1. Reappraising risks levels.
2. Providing accurate information to management.
3. Marketing the internal audit activity.
4. Planning safeguards for assets in high-risk areas.

A.3 and 4.

B.1 and 3.

C.2 and 3.

D.1 and 2.

IIA-CRMA Exam Question 73

Which of the following would most likely be considered a red flag for fraud?

A.An employee in charge of payroll disbursements has rotated these duties with several colleagues.

B.An employee with significant personal debt is in charge of handling large wire transfers for the organization.

C.A senior manager has been delegating the authority to sign-off on small dollar amount purchases to a subordinate.

D.An organization lacks a whistleblower hotline for reporting suspicious activity.

IIA-CRMA Exam Question 74

Which of the following is an example of collusion?

A.A vendor inflates the price of an item and remits a portion of the excess to the purchasing manager.

B.An employee includes a faked receipt in his expense claim, and the claim is signed by the employee's manager.

C.An employee works with the IT manager to develop a program for identifying duplicate invoice payments.

D.A vendor sends a duplicate invoice with a new invoice number, and the accounts payable system fails to detect the duplication.

IIA-CRMA Exam Question 75

According to The MA Code of Ethics, which of the following is one of the rules of conduct for objectivity?

A.Internal auditors shall continually improve their proficiency and effectiveness and quality of their services.

B.Internal auditors shall respect and contribute to legitimate and ethical objectives of the organization.

C.Internal auditors shall not accept anything that may impair or be presumed to impair their professional judgment.

D.Internal auditors shall be prudent in the use and protection of information acquired in the course of their duties.

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IIA-CRMA Exam Question 71

IIA-CRMA Exam Question 72

IIA-CRMA Exam Question 73

IIA-CRMA Exam Question 74

IIA-CRMA Exam Question 75

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