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The IIA-CRMA Exam is designed for Risk Management practitioners who are involved in all the phases of the achievement of an organization’s Risk Strategy design, development, implementation, monitoring, and control. This includes design, development, implementation and monitoring, and control of the risk management framework. IIA-CRMA exam dumps predict that located in the center of the exam, you will have to work as a member of an internal audit team that is part of a risk management team within an organization. Responses to questions will support key concepts and ideas related to managing and controlling risk in an organization.

What is the perfect hour to take the IIA-CRMA Exam?

You should take this exam on a convenient day due to several reasons. You can take the exam at any hour, but it is advisable to take the exam on a regular basis. This will help you stay positive about yourself and your chances of passing the exam on the first try. You should practice more frequently before taking the actual IIA-CRMA Exam with IIA-CRMA exam dumps. Committee members will give you an exam date when they approve your application. But to be sure, you should take the IIA-CRMA Exam at a fairly regular interval of weeks or months.

You should not rush the method of taking the IIA-CRMA Exam because you will have to spend a lot of time preparing for it. There will be a lot of deadline pressures, so do not forget about your schedule. You need to have an important schedule for this exam because you need your preparation during off-work hours as well as during weekends and holidays. Auditors are also busy all the moment. Therefore, you have to have your schedule for this exam before you commence your preparation process. Committees normally tell you when and where to report for the IIA-CRMA Exam. If you agree with the moment and date, then you should execute the same.

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The IIA-CRMA Exam is administered at Pearson VUE testing centers. Testing locations are available throughout the world for candidates to choose from. Candidates can schedule an exam at their convenience, which makes it convenient for them to complete the exam processes. IIA-CRMA exam dumps clarify that the testing center keeps a record of your test results, so you can schedule your test at any time and still receive your test scores immediately after you complete the exam.

NEW QUESTION 122
A computer system automatically locks a user’s account after three unsuccessful attempts to log on.
Which type of control does this scenario represent?

Corrective control.

Preventive control.

Detective control.

Compensating control.

NEW QUESTION 123
An auditor in charge was reviewing the workpapers submitted by a newly hired internal auditor. She noted that the new auditor’s analytical work did not include any rating or quantification of the risk assessment results, and she returned the workpapers for correction. Which section of the workpapers will the new auditor need to modify?

Condition section.

Criteria section.

Effect section.

Cause section.

NEW QUESTION 124
Given the highly technical and legal nature of privacy issues, which of the following statements best describes the internal audit activity’s responsibility with regard to assessing an organization’s privacy framework?

If an organization does not have a mature privacy framework, the internal audit activity should assist in developing and implementing an appropriate privacy framework.

Because the audit committee is ultimately responsible for ensuring that appropriate control processes are in place to mitigate risks associated with personal information, the internal audit activity is C. required to conduct privacy assessments.

The internal audit activity may delegate to nonaudit IT specialists the responsibility of determining whether personal information has been secured adequately and data protection controls are sufficient.

The internal audit activity should have appropriate knowledge and competence to conduct an asses …….framework.

NEW QUESTION 125
According to The IIA’s Code of Ethics, which of the following statements is true?

When an internal auditor releases required information to a regulator, resulting in a significant loss through fines and penalties for the organization, he fails to add value.

When an internal auditor limits the scope of the audit engagement after learning that management is hiding relevant information, he demonstrates integrity.

When an internal auditor disagrees with the treatment received by workers in the organization’s foreign subsidiary and alters the audit program to highlight the issue, he fails to demonstrate objectivity.

When an internal auditor continues with an audit engagement, despite the audit client’s claims that the work performed is unnecessary and redundant he fails to demonstrate competency.

NEW QUESTION 126
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.

1 and 2.

1 and 3.

2 and 4.

3 and 4.

NEW QUESTION 127
An organization is facing a financial downturn and needs to impose major budget reductions to all departments. According to MA guidance, which of the following actions is most appropriate for the board to take to evaluate the potential impact on the internal audit activity?

Ask management to determine which internal audit engagements are lower risk and could be considered for removal from the annual audit plan.

Ask appropriate stakeholders for their opinion on the potential impacts of reducing the scope of the internal audit plan.

Ask the chief audit executive to determine whether budgetary limitations impede the ability of the internal audit activity to execute its responsibilities.

Ask The human resources department to determine how the annual compensation and salary of the audit staff could be adjusted to achieve savings.

NEW QUESTION 128
Why is a code of ethics for the internal audit profession necessary?

It ensures that all members of the profession possess the same level of competence.

It provides auditors with protection from lawsuits.

It guides internal auditors in their service to others.

It requires auditors to exhibit loyalty to their organizations.

NEW QUESTION 129
Which of the following is a common type of payroll fraud?

Unauthorized overtime.

Fictitious employees.

Unearned bonuses or commissions.

Skimming.

NEW QUESTION 130
Which of the following statements describes impairment to the internal auditor’s objectivity?

An internal auditor reviews a purchasing agent’s contract drafts prior to their execution.

An internal auditor reduces the scope of an audit engagement due to budget restrictions.

An internal auditor receives a promotional gift that is available to the organization’s employees.

An internal auditor performs an assessment of the operations for which he was recently responsible.

NEW QUESTION 131
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?

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.

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

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.

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

NEW QUESTION 132
A chief audit executive (CAE) learns that the brother-in-law of a senior auditor who audits the procurement process was hired as the head of the procurement department six months prior. Which of the following is the most appropriate action for the CAE to take?

The CAE should not interfere because there is no evidence that a conflict of interest has occurred.

The CAE should remind the senior auditor of his obligation to be objective and impartial.

The CAE should change the senior auditor’s assignment and take corrective action for the auditor’s failure to disclose the conflict of interest.

The CAE should require the senior auditor to disclose the relationship in writing before continuing his responsibility for monitoring procurement.

NEW QUESTION 133
Why are preventative controls generally preferred to detective controls?

Because preventive controls promote doing the right thing in the first place, and lessen the need for corrective action.

Because preventive controls are more sensitive and identify more exceptions than detective controls.

Because preventive controls include output procedures, which cover the full range of possible reviews, reconciliations and analysis.

Because preventive controls identify exceptions after-the-fact, allowing them to be used after the entire review is complete and therefore finding exceptions that detective controls may have missed.

NEW QUESTION 134
An internal auditor is conducting an engagement in the accounts payable department, which includes expressing an opinion at the micro level. According to IIA guidance, which of the following statements is true regarding micro-level opinions?
1. They are most effective when using a combination of current and prior engagement findings to draw conclusions.
2. They typically are based on defined procedures such as those found in an accounts payable reconciliation process.
3. They are discrete and not normally shared with senior management or the board.
4. They can rely on evidence taken from the work of other assurance activities across the organization.

1 and 2.

1 and 3.

2 and 3.

3 and 4.

NEW QUESTION 135
An internal audit team is performing an audit of workplace accident claims.
Which of the following actions by the audit team best demonstrates due professional care?

Having an occupational health officer on the engagement team.

Determining that the claims have been classified properly.

Placing reliance on medical reports from the injured worker’s doctor.

Reviewing claims to ensure all accidents actually occurred in the workplace.

NEW QUESTION 136
A manufacturing line supervisor joins the internal audit activity for a two-year rotational job assignment and is assigned to an accounts receivable audit. With regard to this assignment, which of the following should be the primary concern of the audit manager?

Due professional care.

Individual independence.

Individual objectivity.

Organizational independence.

NEW QUESTION 137
An auditor identifies three errors in the sample of 25 entries selected for review (a 12 percent error rate).
Based on this result, the auditor assumes that approximately 59 of the total population of 492 entries are incorrect. To reach this assumption, the auditor has used a technique known as which of the following?

Variability tolerance.

Ratio estimation.

Stratification.

Acceptance sampling.

NEW QUESTION 138
While auditing an organization’s credit approval process, an internal auditor learns that the organization has made a large loan to another auditor’s relative. Which course of action should the auditor take?

Proceed with the audit engagement, but do not include the relative’s information.

Have the chief audit executive and management determine whether the auditor should continue with the audit engagement.

Disclose in the engagement final communication that the relative is a customer.

Immediately withdraw from the audit engagement.

NEW QUESTION 139
Which of the following enhances the independence of the internal audit activity?

The chief audit executive (CAE) approves the annual internal audit plan.

The CAE administratively reports to the board.

The audit committee approves the CAE’s annual salary increase.

The chief executive officer approves the internal audit charter.

NEW QUESTION 140
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?

The auditor should accept the calculations generated by the function, as any further work or documentation would be inefficient.

The auditor should perform a manual recalculation of several results to validate and document the results.

The auditor should review the programming of the macro before its use to ensure that it is appropriate for the required calculations.

The auditor should tabulate the results in the spreadsheet to ensure the macro has generated the correct results for all calculations.

NEW QUESTION 141
A manufacturing organization discovers that the waste water released has failed to meet permitted limits.
Which control function will be least effective in correcting the issue?

Performing a chemical analysis of the water, prior to discharge, for components specified in the permit.

Posting signs that tell employees which substances may be disposed of via sinks and floor drains within the facility.

Diluting pollutants by flushing sinks and floor drains daily with large volumes of clean water.

Establishing a preventive maintenance program for the pretreatment system.

NEW QUESTION 142
According to IIA guidance, which of the following external groups is most likely to represent a liability risk, based on activities associated with the organization’s corporate social responsibility program?

Consumers.

Activists.

Suppliers.

Investors.

NEW QUESTION 143
What is the primary benefit to the internal audit activity for undertaking an internal quality assessment?

To help the internal audit activity complete its annual assurance plan.

To identify inefficiencies within the internal audit team.

To help improve the overall quality of the internal audit activity’s work.

To identify key risks and areas of concern within the organization.

NEW QUESTION 144
During an audit, the client questions the internal audit activity’s authority to perform procedures over fraud allegations. According to HA guidance, which of the following would provide the most relevant support to respond to the client’s concerns?

Definition of Internal Auditing.

MA Standards.

Internal audit charter.

The IIA’s Code of Ethics.

NEW QUESTION 145
Which of the following is a detective control strategy against fraud?

Requiring employees to attend ethics training.

Performing background checks on employees.

Implementing a control self-assessment.

Performing a surprise audit.

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2022 Updated IIA IIA-CRMA Dumps PDF – Want To Pass IIA-CRMA Fast [Q122-Q145]

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Who should take IIA-CRMA Exam?

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