IIA IIA-CRMA-ADV Exam Questions Free Practice Test

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Questions # 51:

Which of the following is the primary engagement responsibility of an entry-level internal auditor?

Options:

Leadership.

Documentation.

Analysis.

Reporting.

Expert Solution

Questions # 52:

An internal audit charter should do which of the following?

Options:

Outline the schedule of future audits.

Define the scope of internal audit activities.

Establish the size of the internal audit activity.

Communicate the internal audit activity's goals.

Expert Solution

Questions # 53:

According to IIA guidance, which of the following are macro-level audit activities performed for an assurance engagement of the purchasing department?

1. Obtain and review all purchasing-related audit reports issued within the past year.

2. Meet with the quality assurance group to discuss its previous reports of any purchasing-related findings.

3. Review a memo written by the purchasing manager that outlines ongoing problems with the purchasing software.

4. Request a copy of the report from a purchasing audit conducted last year by an external service provider.

Options:

1 and 2.

1 and 3.

2 and 4.

3 and 4.

Expert Solution

Questions # 54:

According to The IIA's Code of Ethics, which of the following actions violates the principle of confidentiality?

Options:

Accepting a consulting request in the IT department without possessing the requisite experience.

Providing personal tax preparation services for a fee for several employees during the lunch hour.

Providing a friend with the marketing strategic plan, which she will use to prepare her university thesis.

Agreeing to reword an observation to avoid the client complaining directly to the auditor's supervisor.

Expert Solution

Questions # 55:

Which of the following responsibilities would fall under the role of the chief audit executive, rather than internal audit staff or the audit manager?

Options:

Manage and support a quality assurance and improvement program.

Maintain industry-specific knowledge appropriate to the audit engagements

Set clear performance standards for internal auditors and the internal audit activity.

Apply problem-solving techniques for routine situations.

Expert Solution

Questions # 56:

According to IIA guidance, which of the following best describes internal auditors' responsibility regarding fraud?

Options:

Internal auditors should take a leading role in investigating all fraud-related cases.

Internal auditors must have sufficient knowledge to evaluate the risk of fraud.

Internal auditors should report all fraud cases to law enforcement agents, in accordance with the Code of Ethics.

Internal auditors are responsible for ensuring that fraud does not occur.

Expert Solution

Questions # 57:

Which of the following best describes the details that must be included in the quality assurance and improvement program (QAIP) report to senior management and the board?

Options:

The scope and frequency of internal and external assessments as well as the qualifications and independence of the assessor.

The scope and cost of the QAIP. frequency of internal and external assessments, and conclusions of the assessor.

The scope, findings, risks, recommendations, and agreed-upon improvement actions.

The number and types of people involved in the assessment, costs, and duration of the QAIP

Expert Solution

Questions # 58:

Which of the following activities is most likely to require a fraud specialist to supplement the knowledge and skills of the internal audit activity?

Options:

Planning an engagement of the area in which fraud is suspected.

Employing audit tests to detect fraud.

Interrogating a suspected fraudster.

Completing a process review to improve controls to prevent fraud.

Expert Solution

Questions # 59:

With regard To IT governance, which of the following is the most effective and appropriate role for the internal audit activity?

Options:

Independently evaluate the skills and experience of potential chief information officer candidates to assess the best fit based on the organization's risk appetite.

Evaluate the organization's governance standards and assess IT-related activities to identify gaps and develop policies, ensuring alignment with the organization's risk appetite.

Assist management in interpreting complex IT-related privacy and security risk exposures and evaluating potential mitigation strategies.

Assess whether governance activities are aligned with the organization's risk appetite and take into consideration emerging risks.

Expert Solution

Questions # 60:

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

Options:

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

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

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

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

Expert Solution

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