Question No. 1

Which of the following would be considered a preventive control?

AA library control log.

BA review of exception reports.

CA password lock on a server.

DA software scan of financial records for irregularities.

Show Answer

Correct Answer: C

Question No. 2

An IT contractor applied for an internal audit position at a bank. The contractor worked for the bank's IT security manager two years ago. If the audit manager interviewed the contractor and wants to extend a job offer, which of the following actions should the chief audit executive pursue?

AAllow the audit manager to hire the contractor and state that the individual is free to perform IT audits, including security.

BNot allow the audit manager to hire the contractor, as it would be a conflict of interest.

CAllow the audit manager to hire the contractor, but state that the individual is not allowed to work on IT security audits for one year.

DNot allow the audit manager to hire the contractor and ask the individual to apply again in one year.

Show Answer

Correct Answer: A

Question No. 3

According to the Standards, which of the following is not a consideration when exercising due professional care for an assurance engagement?

AThe relative complexity, materiality, or significance of matters to which assurance procedures are applied.

BThe extent of assurance services necessary to ensure that all risks are identified.

CThe cost of providing the assurance services in relation to potential benefits.

DThe probability of significant errors, irregularities or instances of noncompliance.

Show Answer

Correct Answer: B

Question No. 4

In which of the following scenarios would a customer service hotline receive a high volume of complaints regarding payments not being applied to customers' accounts?

AInvoices are not being mailed to customers.

BAn employee is tampering with customer checks.

CEmployees are submitting fraudulent expense reports.

DThe customer service department is not forwarding complaints to the accounts receivable department.

Show Answer

Correct Answer: B

Question No. 5

In the area of business acumen, which of the following competencies would be the sole responsibility of an internal audit staff member?

AMaintaining industry-specific knowledge appropriate to the organization.

BAssessing how IT contributes to organization objectives, risks, and relevance to audit.

CMaintaining technical aspects of accounting standards and reporting processes.

DUnderstanding regulatory and legal framework and assessing its relevance.

Show Answer

Correct Answer: D

Free IIA IIA-CRMA Exam Actual Questions

The questions for IIA-CRMA were last updated On Nov 16, 2024