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IIA-CRMA – Certification in Risk Management Assurance (CRMA) Exam

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Showing 4–6 of 15 questions

Question 4 (Exam Pool B)

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?

Select an option, then click Submit answer.

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    Due professional care.

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    Individual independence.

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    Individual objectivity.

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    Organizational independence.


Question 5 (Exam Pool B)

An internal auditor is performing analytical reviews as part of an audit of a supermarket's merchandising department. Because the economy has declined since midyear, the auditor can expect to encounter which of the following?

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    Higher inventory turnover.

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    Higher operating margin.

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    Lower obsolete stock disposal.

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    Lower sales volume.


Question 6 (Exam Pool A)

This chief audit executive (CAE) engaged an internal auditor to consult on an organization's complex information technology system. Shortly after beginning the engagement, the auditor unexpectedly resigned. Unfortunately, this auditor was the only available auditor with the necessary expertise. The CAE will not be able to hire someone with similar expertise in time to meet a regulatory deadline.

Which of the following would be the best course of action for the CAE to take?

Select an option, then click Submit answer.

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    Continue with the engagement in order to meet the regulatory deadline, but highlight areas in the final report that might need to be revised in the future.

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    Ask that a senior member of the organization's IT department with the required systems expertise join the audit team to assist in completing the engagement.

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    Delay the engagement and inform the board of the situation, asking them to provide acceptable alternatives for completing the engagement.

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    Remove the planned engagement from the audit plan and explain to senior management the problems with moving forward without an auditor with the necessary expertise.