Free Access IIA.IIA-CRMA-ADV.v2024-06-07.q98 Practice Test (Page 17)

Question 76

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

A.Leadership.

B.Reporting.

C.Documentation.

D.Analysis.

Question 77

An organization's chief audit executive (CAE) determines that the internal audit staff does not have the requisite skills to conduct an audit of the financial derivatives area. Which of the following would be the best course of action for the CAE to follow?

A.Determine the requisite knowledge needed, and obtain the proper training for auditors, even if the training will significantly push back the project's timeframe as outlined by the audit committee.

B.Outsource the audit engagement to a qualified external auditing firm without burdening the audit committee with the decision.

C.Employ the skills of a financial derivatives expert to consult on the project, and supplement the consulting with a local seminar on financial derivatives.

D.Notify the audit committee of the problem, and assign the most competent auditors on staff to perform the audit engagement.

Question 78

A candidate has applied for an entry level internal audit position. The candidate holds a CISA (Certified Information Systems Auditor) designation, and has six months of audit experience, but limited knowledge of accounting principles and techniques. According to the IIA guidance, which of the following is the most relevant reason for the chief audit executive to consider this candidate?

A.Accounting skills can be learned over time with appropriate training.

B.An entry level position does not require expertise in any particular area.

C.Other internal auditors possess sufficient knowledge of accounting principles and techniques.

D.The candidate's information systems knowledge and real-world experience in internal auditing.

Question 79

An internal auditor needs to recommend a policy element to be included in an organization's code of ethics.
Which of the following recommendations would be most effective?

A.Ethics should vary with local customs in the organization's foreign operations.

B.Whistleblowing should be discouraged because it can cause distrust among employees.

C.Ethical behavior should be incorporated into performance evaluations.

D.Senior management should be granted specific exemptions to the code of ethics.

Question 80

Which of the following types of fraud includes embezzlement?

A.Misappropriation of assets.

B.Bribery.

C.Corruption.

D.Fraudulent statements.

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Question 76

Question 77

Question 78

Question 79

Question 80

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