Curious about Actual IIA Certification in Risk Management Assurance (IIA-CRMA) Exam Questions?

Here are sample IIA Certification in Risk Management Assurance (CRMA) (IIA-CRMA) Exam questions from real exam. You can get more IIA Certification in Risk Management Assurance (IIA-CRMA) Exam premium practice questions at TestInsights.

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Question 1

Given the highly technical and legal nature of privacy issues, which of the following statements best describes the internal audit activity's responsibility with regard to assessing an organization's privacy framework?

AIf an organization does not have a mature privacy framework, the internal audit activity should assist in developing and implementing an appropriate privacy framework.

BBecause the audit committee is ultimately responsible for ensuring that appropriate control processes are in place to mitigate risks associated with personal information, the internal audit activity is C. required to conduct privacy assessments.

DThe internal audit activity may delegate to nonaudit IT specialists the responsibility of determining whether personal information has been secured adequately and data protection controls are sufficient.

DThe internal audit activity should have appropriate knowledge and competence to conduct an asses .......framework.

Correct : D, D

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AIf an organization does not have a mature privacy framework, the internal audit activity should assist in developing and implementing an appropriate privacy framework.

DThe internal audit activity should have appropriate knowledge and competence to conduct an asses .......framework.

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Question 2

In which of the following scenarios would the chief audit executive (CAE) be required to decline the assignment?

AThe CAE would need to procure external services to deliver the internal audit assurance program.

BThere is no expertise within the internal audit team for detecting and investigating fraud.

CThere is no expertise within the internal audit team for auditing an IT engagement.

DThere is no available expertise on the internal audit team to perform a consulting engagement.

Correct : B

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AThe CAE would need to procure external services to deliver the internal audit assurance program.

BThere is no expertise within the internal audit team for detecting and investigating fraud.

CThere is no expertise within the internal audit team for auditing an IT engagement.

DThere is no available expertise on the internal audit team to perform a consulting engagement.

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Question 3

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

AWhen 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.

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

CWhen 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.

DWhen 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.

Correct : C

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AWhen 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.

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

DWhen 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.

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Question 4

While auditing an organization's credit approval process, an internal auditor learns that the organization has made a large loan to another auditor's relative. Which course of action should the auditor take?

AProceed with the audit engagement, but do not include the relative's information.

BHave the chief audit executive and management determine whether the auditor should continue with the audit engagement.

CDisclose in the engagement final communication that the relative is a customer.

DImmediately withdraw from the audit engagement.

Correct : B

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AProceed with the audit engagement, but do not include the relative's information.

BHave the chief audit executive and management determine whether the auditor should continue with the audit engagement.

CDisclose in the engagement final communication that the relative is a customer.

DImmediately withdraw from the audit engagement.

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Question 5

Upon joining the internal audit activity, each new auditor receives a copy of the audit handbook. Which of the following handbook policies has the greatest risk of compromising audit objectivity?

AInternal auditors should obtain 80 hours of continuing professional education every two years, 20 of which should be audit-related, and the remainder may be operations-related.

BInternal auditors should rotate to other areas of the organization for nonaudit assignments to gain an understanding of the organization's operations.

CInternal auditors should have direct and unrestricted access to personnel and information throughout the organization and the governing board.

DInternal auditors should undergo annual performance appraisals conducted by the chief audit executive, who reports administratively to the chief financial officer.

Correct : B

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AInternal auditors should obtain 80 hours of continuing professional education every two years, 20 of which should be audit-related, and the remainder may be operations-related.

BInternal auditors should rotate to other areas of the organization for nonaudit assignments to gain an understanding of the organization's operations.

CInternal auditors should have direct and unrestricted access to personnel and information throughout the organization and the governing board.

DInternal auditors should undergo annual performance appraisals conducted by the chief audit executive, who reports administratively to the chief financial officer.

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Total 283 questions

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