Free Access IIA.IIA-CRMA.v2024-04-20.q105 Practice Test (Page 19)

Question 86

An internal audit charter, approved by the board, restricts the internal audit activity to providing assurance only on the reliability of financial information and the effectiveness of internal accounting controls. Which of the following statements is true regarding the extent to which the external auditor may rely on the internal audit activity's work?

A.The external auditor may make full use of the work, as the audit charter is very specific as to the work the internal audit activity may undertake.

B.The external auditor may use the work with caution, due to the internal audit activity's scope and responsibility restrictions.

C.The external auditor must disregard the work, as the scope of the charter may introduce bias and result in a lack of due professional care.

D.The external auditor may use the work, as the board has approved the charter, thus taking responsibility for any deficiencies.

Question 87

Which of the following statements is true about The IIA Global Internal Audit Competency Framework?

A.The core competencies outlined in the framework are not expected of a person undertaking an entry-level position as an internal auditor.

B.The framework is designed to be used primarily by chief audit executives that are developing indicators to measure the performance of the internal audit activity for which they are responsible.

C.The framework describes competencies needed for individual internal auditors, but not those necessary at the chief audit executive level.

D.The framework lists the core competencies internal auditors should possess before attempting to attain The IIA's Certified Internal Auditor certification.

Question 88

According to IIA guidance, which of the following are considerations of due professional care when an internal auditor conducts a formal consulting engagement?
1. The complexity of the work required.
2. The needs and expectations of the client.
3. The potential value of the engagement compared to the effort.
4. Information regarding assumptions and procedures to be employed.

A.1, 2, and 3 only

B.2 and 3 only

C.1, 2, 3, and 4

D.1 and 4 only

Question 89

What is the additional advantage of facilitated workshops, in comparison with structured interviews, used when testing the effectiveness of entity-level controls?

A.Facilitated workshops create a synergy of discussion that can bring multiple perspectives to the same issue.

B.Internal auditors do not need other sources of information, as the data gathered during facilitated workshops is sufficient.

C.During facilitated workshops, people more openly say things to internal auditors than during private interviews.

D.The testimonial evidence obtained during facilitated workshops is generally considered more reliable.

Question 90

Evidence discovered during the course of an engagement suggests that multiple incidents of fraud have occurred. There do not appear to be sufficient controls in place to prevent reoccurrence. Which of the following is the internal auditor's most appropriate next step?

A.Immediately notify management of the area under review and the other internal auditors involved in the engagement.

B.Discuss the situation with the engagement supervisor to determine whether fraud investigation experts are required to investigate the matter properly.

C.Provide the evidence that was discovered to local law enforcement for possible prosecution of the suspected fraud.

D.Fully document in the workpapers the evidence that has been discovered and recommend appropriate controls to address the fraud.

Other Version: 2266IIA.IIA-CRMA.v2023-07-05.q92; 3580IIA.IIA-CRMA.v2022-06-30.q96; 72IIA.Prepawaypdf.IIA-CRMA.v2021-11-24.by.todd.105q.pdf

Latest Upload: 200PaloAltoNetworks.NGFW-Engineer.v2026-05-01.q43; 290Nokia.4A0-113.v2026-05-01.q69; 245EC-COUNCIL.312-49v11.v2026-04-30.q214; 226Microsoft.MB-820.v2026-04-30.q101; 204Salesforce.MC-202.v2026-04-30.q57; 203BICSI.INSTC_V8.v2026-04-29.q53; 332NMLS.MLO.v2026-04-28.q82; 241NCARB.Project-Management.v2026-04-28.q27; 454EMC.D-AV-DY-23.v2026-04-27.q184; 1107ServiceNow.CSA.v2026-04-27.q483

Question 86

Question 87

Question 88

Question 89

Question 90

Download PDF File