IIA-CRMA Certification in Risk Management Assurance (CRMA) Exam Practice Test

According to IIA guidance, which of the following statements is true?

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?

While preparing for an audit of senior management expenses, the chief audit executive (CAE) learns that management is unable to locate a number of original expense claims to support the related disbursements. She decides to defer the engagement until they can be located. Which of the following principles likely guided the CAE's decision?

Which of the following activities best reflects the scope and status of the internal audit activity as defined in the internal audit policy statement?

Internal auditors must exercise due professional care by considering which of the following?

1. Cost of assurance in relation to potential benefits.

2. Adequacy and effectiveness of governance, risk management, and control processes.

3. Management's competency level in the area being evaluated.

4. Probability of significant errors, fraud, or noncompliance.

When internal auditors are preparing workpapers for the testing stage of an engagement, which of the following guidelines should be observed?

1. Include copies of all client files that were reviewed for the audit.

2. Avoid the use of professional, industry-appropriate jargon and technical terms.

3. Indicate the original sources of all data and information used in the workpapers.

4. Leave blank space for cross-references to be completed during the post-audit process.

Which the following activities should be performed by the internal audit activity to facilitate an effective relationship with the audit committee?

1. Periodically report about the accounting standards followed by the organization.

2. Provide assurance to the audit committee that its charter, activities, and processes are appropriate.

3. Ensure that the role and activities of the internal audit activity are clearly understood and responsive to the needs of the audit committee.

4. Maintain open and effective communications with the audit committee.