Online Access Free IIA.IIA-CRMA.v2024-06-15.q102 Practice Test (Page 4)

IIA-CRMA Exam Question 11

The manager for an organization's accounts payable department resigned her post in that capacity. Three months later, she was recruited to the internal audit activity and has been working with the audit team for the last eight months. Which of the following assignments would the newly hired internal auditor be able to execute without any impairments to independence or objectivity?

A.A review of the employees' sports club finances, which are overseen by the chief audit executive.

B.An assurance review for a sales program on which she previously provided consultation.

C.A consulting engagement related to a new accounts payable optimization initiative.

D.An operations audit of the accounts payable department.

IIA-CRMA Exam Question 12

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

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

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

C.A manager regularly assumes subordinates' duties.

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

IIA-CRMA Exam Question 13

Which of the following statements is true regarding assurance services provided to clients outside of the organization?

A.The nature of assurance services for outside clients is the same as for internal clients.

B.Assurance services for outside clients must be approved on a case-by-case basis by the board of directors.

C.Assurance services for outside clients are not covered under the internal audit charter.

D.The nature of assurance services for outside clients should be defined in the internal audit charter.

IIA-CRMA Exam Question 14

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

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

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

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

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

IIA-CRMA Exam Question 15

In which of the following scenarios would the chief audit executive (CAE) be required to decline the assignment?

A.There is no available expertise on the internal audit team to perform a consulting engagement.

B.There is no expertise within the internal audit team for detecting and investigating fraud.

C.The CAE would need to procure external services to deliver the internal audit assurance program.

D.There is no expertise within the internal audit team for auditing an IT engagement.

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