IIA Certification in Risk Management Assurance (CRMA) : IIA-CRMA

The chief audit executive (CAE) has been asked to manage the regulatory compliance function for the organization's retail store operations. Store operations are included in the annual audit plan.
Which of the following strategies best fulfills the requirements of the Standards regarding these audits?

• A. Store operations audits should be performed by an external service provider.
• B. A store operations compliance audit should be performed by a staff internal auditor under the direction of the CAE.
• C. Store operations audits can be fully executed with appropriate disclosure to the board.
• D. The scope of store operations audits should exclude compliance.

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

• A. The framework describes competencies needed for individual internal auditors, but not those necessary at the chief audit executive level.
• B. The framework lists the core competencies internal auditors should possess before attempting to attain The IIA's Certified Internal Auditor certification.
• C. 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.
• D. The core competencies outlined in the framework are not expected of a person undertaking an entry-level position as an internal auditor.

An internal auditor is reviewing employee travel data to identify opportunities to cut costs while ensuring adequate participation at conferences to support the organization's mission. Which of the following pieces of evidence would be sufficient for completing this task?

• A. A log from the last year that includes dates of travel, conference titles, and conference objectives, all of which correspond with employee names and costs per trip.
• B. A log of employee travel requests, which include the title of each conference, the conference objectives, anticipated dates of travel, and estimated costs.
• C. A log of conferences titles, dates of travel for each employee, and a detailed summary of conference objectives and how they relate to the organization's mission needs.
• D. A log that includes titles of conferences that all employees were invited to attend in the last year, along with the dates of those conferences and average costs per traveler.

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

• A. Internal auditors are responsible for ensuring that fraud does not occur.
• B. Internal auditors should take a leading role in investigating all fraud-related cases.
• C. Internal auditors should report all fraud cases to law enforcement agents, in accordance with the Code of Ethics.
• D. Internal auditors must have sufficient knowledge to evaluate the risk of fraud.

Allegations have been made that an organization's share price has been manipulated.
Which of the following would provide an internal auditor with the most objective evidence in this case?

• A. Major shareholders of the organization.
• B. Former financial consultants.
• C. Former members of management.
• D. Large customers of the organization.