Pass the IIA CRMA Certification IIA-CRMA-ADV Questions and answers with ExamsMirror

Which of the following combinations of conditions is most likely a red flag for fraud?

Which of the following must be in existence as a precondition to developing an effective system of internal controls?

Who is responsible for setting the risk appetite?

Which of the following best ensures the independence of the internal audit activity?

1. The CEO and audit committee review and endorse any changes to the approved audit plan on an annual basis.

2. The audit committee reviews the performance of the chief audit executive (CAE) periodically.

3. The internal audit charter requires the CAE to report functionally to the audit committee.

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?

An internal auditor is performing analytical reviews as part of an audit of a supermarket's merchandising department. Because the economy has declined since midyear, the auditor can expect to encounter which of the following?

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

Which of the following are core responsibilities to be included in the internal audit charter?

1. Review reliability and integrity of financial and operating information and the means used to identify, measure, classify, and report such information.

2. Determine the adequacy and effectiveness of the organization’s systems of internal accounting and operating controls.

3. Participate in the planning and performance of audits of potential acquisitions with the organization's outside accountants and other members of the corporate staff.

4. Report to those members of management who should be informed of results of audit examinations, the audit opinions formed, and the recommendations made.

A snow removal company is conducting a scenario planning exercise where participating employees consider the potential impacts of a significant reduction in annua snowfall for the coming winter. Which of the following best describes this type of risk?

An internal audit activity includes in its audit reports the assertion that its work is performed in conformance with the International Standards for the Professional Practice of Internal Auditing {Standards). A recent external quality assessment concluded that the internal audit activity had substantial deficiencies that impact its overall operations. According to IIA guidance, which of the following is the most appropriate action for issuing future audit reports?