[Jan-2024] IIA-CRMA-ADV Exam Dumps Pass with Updated 2024 Certification in Risk Management Assurance [Q123-Q140]

NO.123 A headquarters-based internal auditor has been sent to a major overseas subsidiary to conduct various engagements. Initially, the internal auditor spends time to become familiar with local customs and organization’s practices while embarking on the first engagement. Which of the following competencies does the internal auditor exercise?

NO.124 According to IIA guidance, which of the following describes the primary reason to implement environmental and social safeguards within an organization?

NO.125 Which of the following statements accurately describes an internal auditor’s responsibility with regard to due professional care?

NO.126 Which of the following techniques would provide the most compelling evidence that a safety hazard exists within a manufacturing facility?

NO.127 Which of the following activities should the chief audit executive perform to ensure compliance with an organization’s code of conduct?

NO.128 According to The MA Global Internal Audit Competency Framework, which of the following areas of training would best assist the internal audit activity in improving its use of tools and techniques?

NO.129 Which of the following types of fraud includes embezzlement?

NO.130 According to the COSO enterprise risk management (ERM) framework, which of the following is not part of the new paradigm in ERM?

NO.131 Which of the following would be the most important consideration by the internal audit activity when selecting employees to perform an internal quality assessment?

NO.132 According to COSO, which of the following describes a principle related to the control environment?

NO.133 The manager for an organization’s accounts payable department resigned her post in that capacity. Three months later, she was recruited to the internal audit activity and has been working with the audit team for the last eight months. Which of the following assignments would the newly hired internal auditor be able to execute without any impairments to independence or objectivity?

NO.134 Which of the following actions best demonstrates that an internal auditor is exercising due professional care?

NO.135 An organization decides to take no action on one of its financial risks because the cost of implementing the control outweighs the value of the asset being protected. Which of the following best describes this risk strategy?

NO.136 When conducting an interview, an internal auditor is most likely to ask open-ended questions in order to:

NO.137 According to IIA guidance, which of the following roles would be appropriate for an internal auditor regarding fraud risk?
1. Identification.
2. Mitigation.
3. Remediation.
4. Reduction.

NO.138 Which of the following are components of the COSO enterprise risk management framework?
1. Objective setting.
2. External environment.
3. Data collection.
4. Control activities.

NO.139 Internal auditors must exercise due professional care by considering which of the following?
1. Cost of assurance in relation to potential benefits.
2. Adequacy and effectiveness of governance, risk management, and control processes.
3. Management’s competency level in the area being evaluated.
4. Probability of significant errors, fraud, or noncompliance.

NO.140 When auditing the award of a major contract, which of the following should an internal auditor suspect as a red flag for a bidding fraud scheme?
1. Subsequent change orders increase requirements for low-bid items.
2. Material contract requirements are different on the actual contract than on the request for bids.
3. A high percentage of employees are charged to indirect accounts.
4. Losing bidders are hired as subcontractors.