Online Access Free IIA.IIA-CRMA.v2022-12-23.q98 Practice Test (Page 19)

IIA-CRMA Exam Question 86

According to the COSO enterprise risk management (ERM) framework, which of the following is not part of the new paradigm in ERM?

A.Enhancing risk response decisions.

B.Reducing operational surprises and losses.

C.Aligning risk appetite and strategy.

D.Assessing the risk factors.

IIA-CRMA Exam Question 87

Which of the following actions should an internal auditor take to exercise due professional care?
1. Consider the probability of significant noncompliance in each audit engagement.
2. Weigh the cost of assurance against the benefits.
3. Perform assurance procedures with sufficient care to ensure that all risks are identified.

A.1, 2, and 3

B.1 and 3 only

C.1 and 2 only

D.2 and 3 only

IIA-CRMA Exam Question 88

According to IIA guidance, which of the following statements regarding the internal audit charter is true?

A.The CEO periodically should assess whether the terms of the charter continue to be adequate.

B.Senior management should approve the charter before it is submitted to the board.

C.The charter should define the consulting services that the internal audit activity is permitted to perform.

D.The charter should describe the purpose and authority of the internal audit activity, consistent with the Standards.

IIA-CRMA Exam Question 89

According to the Standards, which of the following best describes why initial audit test results should be reported to the auditor-in-charge prior to advising management?

A.It helps ensure that appropriate professional judgments and conclusions are made.

B.It is required to demonstrate that effective engagement supervision has occurred.

C.It increases the likelihood of obtaining the audit client's agreement with the results.

D.It ensures that an appropriate chain of evidence is maintained through the workpapers.

IIA-CRMA Exam Question 90

Which of the following activities best reflects the scope and status of the internal audit activity as defined in the internal audit policy statement?

A.The board approves the annual performance evaluation of the chief audit executive.

B.The internal auditor reviews the physical access to merchandise during an inventory count.

C.The audit manager conducts an internal quality assessment of the internal audit activity's adherence to the Standards.

D.The audit manager refrains from assigning an auditor who was a former payroll clerk to conduct a payroll audit.

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IIA-CRMA Exam Question 86

IIA-CRMA Exam Question 87

IIA-CRMA Exam Question 88

IIA-CRMA Exam Question 89

IIA-CRMA Exam Question 90

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