Free Access IIA.IIA-CRMA.v2026-07-03.q97 Practice Test (Page 20)

Question 91

Which of the following statements is true with regard to conducting an effective quality assurance and improvement program?

A.Members of the internal audit activity are not permitted to perform quality assessments, as they would not be independent.

B.Periodic internal assessments provide the most current and independent recommendations for improvement.

C.The conclusions of periodic internal assessments are intended to assist in achieving conformity to the Standards.

D.The IIA's Quality Assessment Manual for the Internal Audit Activity must be used as the basis for periodic assessments.

Question 92

Which segregation of duties would best reduce the risk of payroll fraud?

A.Human resources personnel add employees, payroll personnel process hours, and human resources personnel deliver paychecks to employees.

B.Human resources personnel add employees and enter employee bank information. Payroll personnel process hours, and paychecks are automatically deposited in the employee's bank account.

C.Human resources personnel add employees, review and submit payroll hours to the payroll department for processing, and deliver paychecks to employees.

D.Human resources personnel add employees, and payroll personnel process hours and enter employee bank account numbers. Paychecks are automatically deposited in the employee's bank account.

Question 93

Which of the following is a weakness of observation as audit evidence?

A.It cannot be used to test the occurrence assertion.

B.It cannot be used to test the completeness assertion.

C.It cannot be used to test the existence assertion.

D.It cannot be relied upon because the evidence is not persuasive.

Question 94

According to IIA guidance, which of the following statements describes one of the similarities between assurance and consulting services?

A.Both assurance and consulting services generally involve the internal auditor, the area under review, senior management, and the board.

B.When planning assurance and consulting engagements, internal auditors must consider the strategies and objectives of the activity being reviewed.

C.Internal auditors must not provide assurance or consulting services for an activity for which they had responsibility within the previous year.

D.Internal auditors determine the engagement objectives, scope, and work program for both assurance and consulting services.

Question 95

An accounts receivable clerk receives cash payments, posts the payments to customer accounts, and prepares the daily cash deposit.
The clerk has been stealing some cash and manipulating the customer payments to hide the theft.
This fraud could be detected with which of the following controls?

A.Monthly bank reconciliations are performed by the clerk on a timely basis.

B.Names, amounts, and dates on remittance advices are reconciled with the names, amounts, and dates recorded in the cash receipts journal.

C.Total cash deposits are compared with the bank reconciliation.

D.Total cash deposits for the month are reconciled to the cash receipts journal.

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Question 91

Question 92

Question 93

Question 94

Question 95

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