Online Access Free IIA.IIA-CRMA.v2022-12-23.q98 Practice Test (Page 9)

IIA-CRMA Exam Question 36

A snow removal company is conducting a scenario planning exercise where participating employees consider the potential impacts of a significant reduction in annua snowfall for the coming winter. Which of the following best describes this type of risk?

A.Net.

B.Inherent.

C.Residual.

D.Accepted.

IIA-CRMA Exam Question 37

According to IIA guidance, which of the following statements is true regarding the reporting of results from an external quality assessment of the internal audit activity?

A.The requirements for reporting quality assessment results are the same for external assessments and self-assessments with independent external validation.

B.The results of self-assessments with independent external validation are shared with the board upon completion, and monitoring of recommended improvements must be reported monthly.

C.The external assessment results are reported upon completion in confidence directly to the board, and senior management is advised only of the recommendations and improvement action plans.

D.The external assessment results are communicated upon completion to senior management and the board, but action plans for recommended improvements do not have to be reported.

IIA-CRMA Exam Question 38

According to IIA guidance, which of the following practices by the chief audit executive (CAE) best enhances the organizational independence of the internal audit activity?

A.CAE meets privately with The CEO at least annually.

B.CAE meets privately with The board at least annually.

C.CAE reports to the board regarding audit staff performance evaluation and compensation.

D.CAE reviews and approves the annual audit plan.

IIA-CRMA Exam Question 39

Which of the following statements is true about The IIA Global Internal Audit Competency Framework?

A.The framework is designed to be used primarily by chief audit executives that are developing indicators to measure the performance of the internal audit activity for which they are responsible.

B.The framework lists the core competencies internal auditors should possess before attempting to attain The IIA's Certified Internal Auditor certification.

C.The framework describes competencies needed for individual internal auditors, but not those necessary at the chief audit executive level.

D.The core competencies outlined in the framework are not expected of a person undertaking an entry-level position as an internal auditor.

IIA-CRMA Exam Question 40

Which of the following would provide the best evidence of errors in the quantities of items received from suppliers?

A.Warehouse receiving logs.

B.Observation and inspection of inventory.

C.Suppliers' reports of over shipments.

D.Purchase requisitions and purchase orders.

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IIA-CRMA Exam Question 36

IIA-CRMA Exam Question 37

IIA-CRMA Exam Question 38

IIA-CRMA Exam Question 39

IIA-CRMA Exam Question 40

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