Online Access Free IIA.IIA-CRMA.v2024-06-15.q102 Practice Test (Page 9)

IIA-CRMA Exam Question 36

An organization's chief audit executive (CAE) determines that the internal audit staff does not have the requisite skills to conduct an audit of the financial derivatives area. Which of the following would be the best course of action for the CAE to follow?

A.Determine the requisite knowledge needed, and obtain the proper training for auditors, even if the training will significantly push back the project's timeframe as outlined by the audit committee.

B.Notify the audit committee of the problem, and assign the most competent auditors on staff to perform the audit engagement.

C.Employ the skills of a financial derivatives expert to consult on the project, and supplement the consulting with a local seminar on financial derivatives.

D.Outsource the audit engagement to a qualified external auditing firm without burdening the audit committee with the decision.

IIA-CRMA Exam Question 37

Which of the following control activities is the most effective to ensure users' levels of access are appropriate for their current roles?

A.System administrator rights are assigned to one user in each department who can update user access of terminated or transferred employees immediately.

B.Standardized user access profiles are developed and the appropriate access profiles are automatically assigned to new or transferred employees.

C.Department managers are required to perform periodic user access reviews of relevant systems and applications.

D.The human resources department generates a monthly list of terminated and transferred employees and requests IT to update the user access as required.

IIA-CRMA Exam Question 38

Which of the following is an example of a detective control?

A.Confirmation with suppliers and vendors.

B.Auto-correct software functionality.

C.Automatic shut-off valve.

D.Safety instructions.

IIA-CRMA Exam Question 39

According to The IIA's Code of Ethics, which of the following statements is true?

A.When an internal auditor continues with an audit engagement, despite the audit client's claims that the work performed is unnecessary and redundant he fails to demonstrate competency.

B.When an internal auditor disagrees with the treatment received by workers in the organization's foreign subsidiary and alters the audit program to highlight the issue, he fails to demonstrate objectivity.

C.When an internal auditor releases required information to a regulator, resulting in a significant loss through fines and penalties for the organization, he fails to add value.

D.When an internal auditor limits the scope of the audit engagement after learning that management is hiding relevant information, he demonstrates integrity.

IIA-CRMA Exam Question 40

According to The MA Global Internal Audit Competency Framework, which of the following areas of training would best assist the internal audit activity in improving its use of tools and techniques?

A.Financial accounting.

B.Negotiation and conflict resolution.

C.Ethics and fraud.

D.Project management.

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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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