Free IIA IIA-CRMA-ADV Exam Questions

Become IIA Certified with updated IIA-CRMA-ADV exam questions and correct answers

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Total 283 Questions | Updated On: Nov 20, 2024

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Question 1

Which of the following is an example of collusion?

A : employee includes a faked receipt in his expense claim, and the claim is signed by the employee's manager.

B : vendor inflates the price of an item and remits a portion of the excess to the purchasing manager.

C : vendor sends a duplicate invoice with a new invoice number, and the accounts payable system fails to detect the duplication.

D : employee works with the IT manager to develop a program for identifying duplicate invoice payments.

Answer: B

Question 2

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

B : ensures that an appropriate chain of evidence is maintained through the workpapers.

C : helps ensure that appropriate professional judgments and conclusions are made.

D : is required to demonstrate that effective engagement supervision has occurred.

Answer: C

Question 3

An internal audit charter, approved by the board, restricts the internal audit activity to providing assurance only on the reliability of financial information and the effectiveness of internal accounting controls. Which of the following statements is true regarding the extent to which the external auditor may rely on the internal audit activity's work?

A : external auditor may make full use of the work, as the audit charter is very specific as to the work the internal audit activity may undertake.

B : external auditor may use the work, as the board has approved the charter, thus taking responsibility for any deficiencies.

C : external auditor must disregard the work, as the scope of the charter may introduce bias and result in a lack of due professional care.

D : external auditor may use the work with caution, due to the internal audit activity's scope and responsibility restrictions.

Answer: D

Question 4

Which of the following is not an appropriate activity for internal auditors to perform?

A : commend management seek a consulting firm to advise on outsourcing.

B : ghlight matters that require management's attention.

C : plement solutions for specific organizational problems.

D : cumulate data, obtain varying views, and report information to senior management.

Answer: C

Question 5

Which of the following is not a standard technique that the chief audit executive (CAE) would use to provide evidence of supervisory review of working papers?

A : CAE initials and dates every working paper after it has been reviewed.

B : CAE completes an engagement working paper checklist.

C : CAE prepares a memorandum discussing the results of the working paper review.

D : CAE utilizes an external third party to make an objective recommendation after each working paper review.

Answer: D

Page: 1 / 57

Total 283 Questions | Updated On: Nov 20, 2024

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