IIA Certification in Risk Management Assurance - IIA-CRMA-ADV Exam Practice Test
Which of the following is a requirement for an assurance engagement that may not be for a consulting engagement?
Correct Answer: A
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An internal auditor who is carrying out an engagement to review controls related to corporate tax reporting must possess which of the following competencies?
1. Proficiency in analyzing key IT risks and controls.
2. The ability to recognize significant deviations from good business practices.
3. Knowledge of key indicators of fraud in tax reporting.
4. The ability to recognize the existence of problems related to tax accounting.
1. Proficiency in analyzing key IT risks and controls.
2. The ability to recognize significant deviations from good business practices.
3. Knowledge of key indicators of fraud in tax reporting.
4. The ability to recognize the existence of problems related to tax accounting.
Correct Answer: A
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According to the COSO internal control framework, which of the following best describes the use of continuous auditing programs by the internal audit activity?
Correct Answer: C
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An internal auditor notes that employees are able to download files from the internet. According to IIA guidance, which of the following strategies would best protect the organization from the risk of copyright infringement and licensing violations resulting from this practice?
Correct Answer: D
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Management is developing and implementing a risk and control framework for use throughout the organization. Which of the following elements should be included in the organization's control framework?
1. Appropriate levels of authority and responsibility.
2. Supervision of staff and appropriate review of work.
3. The seniority of management in the organization.
4. The ability to trace each transaction to an accountable and responsible individual.
1. Appropriate levels of authority and responsibility.
2. Supervision of staff and appropriate review of work.
3. The seniority of management in the organization.
4. The ability to trace each transaction to an accountable and responsible individual.
Correct Answer: C
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According to the Standards, which of the following is not a consideration when exercising due professional care for an assurance engagement?
Correct Answer: A
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According to IIA guidance, which of the following are considerations of due professional care when an internal auditor conducts a formal consulting engagement?
1. The complexity of the work required.
2. The needs and expectations of the client.
3. The potential value of the engagement compared to the effort.
4. Information regarding assumptions and procedures to be employed.
1. The complexity of the work required.
2. The needs and expectations of the client.
3. The potential value of the engagement compared to the effort.
4. Information regarding assumptions and procedures to be employed.
Correct Answer: C
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According to IIA guidance, which of the following best describes processes and tools typically used in ongoing internal assessments?
Correct Answer: A
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Which of the following statements accurately describes an internal auditor's responsibility with regard to due professional care?
Correct Answer: B
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During an audit, the client questions the internal audit activity's authority to perform procedures over fraud allegations. According to HA guidance, which of the following would provide the most relevant support to respond to the client's concerns?
Correct Answer: A
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