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

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Showing 10–12 of 15 questions

Question 10 (Exam Pool A)

Which of the following would most likely be considered a red flag for fraud?

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    An organization lacks a whistleblower hotline for reporting suspicious activity.

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    A senior manager has been delegating the authority to sign-off on small dollar amount purchases to a subordinate.

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    An employee in charge of payroll disbursements has rotated these duties with several colleagues.

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    An employee with significant personal debt is in charge of handling large wire transfers for the organization.


Question 11 (Exam Pool B)

According to IIA guidance, which of the following should be formally documented in the internal audit charter?

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    The internal audit activity's responsibility for imposing risk management processes.

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    The internal audit activity's responsibility for the organization's governance framework.

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    The nature of consulting services provided by the internal audit activity.

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    The budgeting process for the internal audit activity.


Question 12 (Exam Pool B)

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

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

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    To identify inefficiencies within the internal audit team.

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

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