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: Feb 20, 2025

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Question 1

A chief audit executive (CAE) reports functionally to the CEO and administratively to the chief financial officer, both of whom serve on the company's board of directors. According to IIA guidance, which of the following would offer the greatest protection for the independence of the internal audit activity?

A : Appoint the CAE as a member of the board.

B : ve the CAE's functional reporting to an executive who is not on the board.

C : tain full board approval of the internal audit activity's annual audit plan.

D : ve the CAE's functional reporting to the audit committee.

Answer: D

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

According to the COSO internal control framework, which of the following best describes the use of continuous auditing programs by the internal audit activity?

A : ntrol environment.

B : ntrol activities.

C : k assessment.

D : nitoring.

Answer: D

Question 4

Which of the following actions would be characterized as a preventive control to safeguard inventory from the risk of theft?

1. Locking doors and physically securing inventory items.

2. Independently observing the receipt of materials.

3. Conducting monthly inventory counts.

4. Requiring the use of employee ID badges at all times.

A : 1 and 3.

B : 1 and 4.

C : 2 and 3.

D : 2 and 4.

Answer: B

Question 5

After being terminated due to downsizing, an internal auditor finds a different job with an organization in the same industry. Which of the following actions would violate the IIA Code of Ethics?

A : determine audit priorities in the new job, the auditor uses the audit risk approach that the auditor's previous employer used, without receiving permission to do so.

B : the new organization, the auditor is asked to develop forms to implement probability-proportional-to-size sampling. Although unsure of how to perform this type of sampling, the auditor proceeds without asking for assistance.

C : preparing for an audit at the previous organization, the auditor had conducted a great deal of research on the Internet at home to identify best practices for the management of a treasury function. The auditor has retained much of the research and uses it to conduct an audit of the new employer's treasury function.

D : the first week at the new organization, the auditor discovers a high fraud risk surrounding the organization's database and suggests that the information technology department implement a new password system to prevent fraudulent actions before they occur.

Answer: B

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Total 283 Questions | Updated On: Feb 20, 2025

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