Free Access IIA.IIA-CRMA.v2023-07-05.q92 Practice Test (Page 8)

Question 31

The chief audit executive (CAE) of a mid-sized pharmaceutical organization has operational responsibility for the regulatory compliance function. The audit committee requests an assessment of regulatory compliance.
According to IIA guidance, which of the following is the CAE's best course of action?

A.Have a regulatory compliance staff member perform a self-assessment, to be reviewed by a proficient internal auditor.

B.Have a proficient internal audit staff member perform the audit and report the results of the assessment directly to senior management and the board.

C.Contract with a third-party entity or external auditor to complete the assessment and report the results to senior management and the board.

D.Have a proficient internal audit staff member perform the assessment and disclose the impairment in the audit report and to the board.

Question 32

According to IIA guidance, which of the following statements is true?

A.Control process risks are found at multiple layers of the IT environment.

B.IT risks and related controls are operational and best identified using a bottom-up approach.

C.Risks in IT processes are best mitigated by individual controls.

D.The overall focus of the framework is on significant controls in all critical IT applications.

Question 33

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

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

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

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

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

Question 34

An internal auditor wants to sample data to test an audit theory in a cost-effective way. Which of the following sampling strategies should she use?

A.Nonstatistical sampling only

B.Neither approach to testing the audit theory would be cost effective.

C.Statistical sampling only

D.A combination of both statistical and nonstatistical sampling.

Question 35

Who is responsible for setting the risk appetite?

A.Board of directors.

B.Operations management.

C.External auditors.

D.Chief risk officer.

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Question 31

Question 32

Question 33

Question 34

Question 35

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