[Mar 16, 2022] Passing Key To Getting IIA-CRMA Certified Exam Engine PDF [Q119-Q136]

NO.119 A government agency’s policy states that board members’ travel and hospitality expenses must be audited annually. Which of following people or groups is most appropriate to perform this audit?

NO.120 According to IIA guidance, which of the following must the internal auditor consider to meet the requirements for due professional care?

NO.121 During an engagement, an internal auditor decided to use variance analysis as an auditing techniques. Which of the following steps should the auditor pursue if he discovers unexpected deviations of actual results from budget?

NO.122 Which of the following situations is most likely to impair internal audit objectivity?

NO.123 An internal auditor uses a predefined macro provided in a popular spreadsheet application to verify the present value of the organization’s investments. Which of the following is the most appropriate course of action regarding the auditor’s use of this functionality?

NO.124 Which of the following must be in existence as a precondition to developing an effective system of internal controls?

NO.125 Which of the following statements best explains why internal auditors map processes?
1. To obtain audit evidence to support auditor’s observations.
2. To determine scope and objectives of the audit.
3. To facilitate the identification of ownership and responsibility for key risks.
4. To identify potential efficiency improvements.

NO.126 Which of the following is the best way to detect fraud?

NO.127 Which of the following statements describes impairment to the internal auditor’s objectivity?

NO.128 Which of the following control methods is effective in reducing the risk of purchasing-scheme fraud?
1. Periodically reviewing the vendor list for unusual vendors and addresses.
2. Segregating duties for amount purchasing, receiving, shipping, and accounting.
3. Validating sequential integrity of purchase orders.
4. Verifying the validity of invoices with post office box addresses.

NO.129 According to IIA guidance, which of the following should be formally documented in the internal audit charter?

NO.130 Which of the following types of social responsibilities is voluntary and guided purely by the organization’s desire to make social contributions?

NO.131 Which of the following would most likely be considered a red flag for fraud?

NO.132 What is the primary purpose of a fishbone diagram?

NO.133 Which of the following actions does not violate the IIA Code of Ethics or Standards?

NO.134 Which of the following is the most common way that occupational fraud is detected?

NO.135 An internal audit charter describes the mission and scope of the internal audit activity (IAA), responsibilities of the IAA, accountability of the chief audit executive, independence of the IAA, and standards followed by the IAA. Which of the following also should be included in the charter?

NO.136 Forty-five percent of an organization’s customer payments are submitted online. Eight percent of online payments are rejected. Executive management decides to outsource its online payment services to a contractor that will assume 75 percent of the total value of rejected payments. The organization estimates $1.25 million customer payments due during the contract period.
Which of the following represents the organization’s residual risk for online customer payments due?