2025 Valid IIA-CRMA-ADV Real Exam Questions (Updated) 100% Dumps & Practice Exam
[UPDATED 2025] IIA IIA-CRMA-ADV Questions Prepare with Free Demo of PDF
NEW QUESTION # 92
Who is responsible for setting the risk appetite?
- A. Operations management.
- B. Board of directors.
- C. External auditors.
- D. Chief risk officer.
Answer: B
NEW QUESTION # 93
An assurance mapping exercise helps an organization do which of the following?
1. Provide assurance to stakeholders that risks are managed and reported, and regulatory and legal obligations are met.
2. Fulfill best practices in the industry.
3. Identify and address any gaps in the risk management process.
4. Identify fraud.
- A. 1 and 3.
- B. 3 and 4.
- C. 1 and 4.
- D. 2 and 3.
Answer: A
NEW QUESTION # 94
Which of the following is a requirement for an assurance engagement that may not be for a consulting engagement?
- A. The internal audit activity must ensure management actions have been implemented effectively or risk accepted.
- B. The internal audit activity has to ensure team members' objectivity is not impaired.
- C. Auditors cannot participate in an assurance engagement of a function for which they previously performed a consulting engagement.
- D. The scope and objective of the engagement is agreed upon based on the engagement client's needs.
Answer: C
NEW QUESTION # 95
According to IIA guidance, which of the following statements describes one of the similarities between assurance and consulting services?
- A. Both assurance and consulting services generally involve the internal auditor, the area under review, senior management, and the board.
- B. Internal auditors must not provide assurance or consulting services for an activity for which they had responsibility within the previous year.
- C. When planning assurance and consulting engagements, internal auditors must consider the strategies and objectives of the activity being reviewed.
- D. Internal auditors determine the engagement objectives, scope, and work program for both assurance and consulting services.
Answer: C
NEW QUESTION # 96
During an audit engagement, the internal auditor discussed a risk mitigation recommendation with the manager of the area under review. The manager disagreed with the risk assessment and recommendation. The two failed to come up with an alternative solution, and the auditor decided to proceed with including the original recommendation in the engagement report. Which of the following is especially important in dealing with this type of situation?
- A. Soft skills in communication, negotiation, and collaboration.
- B. Technical skills in the area under review.
- C. Confidentiality and independence.
- D. Professional qualifications and certification in internal auditing.
Answer: A
NEW QUESTION # 97
A staff auditor, nearly finished with an audit engagement, discovers that the director of marketing has a gambling habit. The gambling issue is not directly related to the existing engagement, and there is pressure to complete the current engagement. The auditor notes the problem and forwards the information to the chief audit executive, but performs no further follow-up.
Which of the following statements is true about the auditor's actions?
- A. They are not in violation of the Standards but are in violation of the IIA Code of Ethics.
- B. They are in violation of the IIA Code of Ethics because the auditor withheld meaningful information.
- C. They are in violation of the Standards because the auditor did not properly follow up on a red flag that might indicate the existence of fraud.
- D. They are in violation of neither the IIA Code of Ethics nor the Standards.
Answer: D
NEW QUESTION # 98
According to IIA guidance, which of the following are considerations of due professional care when an internal auditor conducts a formal consulting engagement?
1. The complexity of the work required.
2. The needs and expectations of the client.
3. The potential value of the engagement compared to the effort.
4. Information regarding assumptions and procedures to be employed.
- A. 1, 2, 3, and 4
- B. 1 and 4 only
- C. 2 and 3 only
- D. 1, 2, and 3 only
Answer: D
NEW QUESTION # 99
What is the primary benefit to the internal audit activity for undertaking an internal quality assessment?
- A. To identify key risks and areas of concern within the organization.
- B. To help improve the overall quality of the internal audit activity's work.
- C. To help the internal audit activity complete its annual assurance plan.
- D. To identify inefficiencies within the internal audit team.
Answer: B
NEW QUESTION # 100
According to COSO, which of the following is not considered one of the components of an organization's internal environment?
- A. Knowledge and skills needed to perform activities.
- B. Authority and responsibility to resolve issues.
- C. Integrated responses to multiple risks.
- D. Framework to plan, execute and monitor activities.
Answer: C
NEW QUESTION # 101
An internal auditor is conducting an assessment of the organization's fraud prevention program using the COSO enterprise risk management framework. According to this framework, which of the following activities would fall under the control environment component for preventing fraud?
1. The organization uses an automated authority approval matrix to control payments.
2. The organization has a whistleblower hotline that is available to employees.
3. Annually, every manager completes a comprehensive fraud assessment of his or her department.
4. Annually, the organization reviews and communicates the code of expected behavior.
- A. 1 and 3.
- B. 1 and 2.
- C. 2 and 4.
- D. 2 and 3.
Answer: C
NEW QUESTION # 102
Which of the following is most likely to enhance an internal auditor's objectivity?
- A. An auditor is appropriately able to communicate results.
- B. An auditor avoids conflicts of interest.
- C. An auditor is unrestricted in determination of scope.
- D. An auditor performs his work free from interference.
Answer: B
NEW QUESTION # 103
According to The IIA's Code of Ethics, which of the following actions violates the principle of confidentiality?
- A. Providing personal tax preparation services for a fee for several employees during the lunch hour.
- B. Providing a friend with the marketing strategic plan, which she will use to prepare her university thesis.
- C. Agreeing to reword an observation to avoid the client complaining directly to the auditor's supervisor.
- D. Accepting a consulting request in the IT department without possessing the requisite experience.
Answer: B
NEW QUESTION # 104
While reviewing first quarter sales transactions, an internal auditor discovered that 10 invoices for a new customer had not been posted into the accounts receivable subsidiary ledger. Those 10 invoices were listed in an error report automatically generated by the sales processing system. The system had rejected the invoices because the customer's account number was not found in the customer master file. In this scenario, which of the following controls was lacking?
- A. Corrective control.
- B. Detective control.
- C. Directive control.
- D. Preventive control.
Answer: A
NEW QUESTION # 105
A large trucking organization wants to reduce traffic accidents by improving its system of internal controls.
Which of the following controls is correctly classified?
1. Review of speeding violations to identify repetitive locations and drivers is an example of a preventive control.
2. Defensive driver training is an example of a directive control.
3. The installation of tracking devices in delivery vehicles is an example of a corrective control.
4. Providing a vehicle driver handbook is an example of a detective control.
- A. 1 and 2.
- B. 3 and 4.
- C. 1 and 4.
- D. 2 and 3.
Answer: A
NEW QUESTION # 106
According to the COSO enterprise risk management (ERM) framework, which of the following is not part of the new paradigm in ERM?
- A. Assessing the risk factors.
- B. Enhancing risk response decisions.
- C. Reducing operational surprises and losses.
- D. Aligning risk appetite and strategy.
Answer: A
NEW QUESTION # 107
A chief audit executive (CAE) is selecting an internal audit team to perform an audit engagement that requires a high level of knowledge in the areas of finance, investment portfolio management, and taxation. If neither the CAE nor the existing internal audit staff possess the required knowledge, which of the following actions should the CAE take?
- A. Ask the audit committee to decide the course of action.
- B. Select the most experienced auditors in the department to perform the engagement.
- C. Hire consultants who possess the required knowledge to perform the engagement.
- D. Postpone the audit until the CAE hires internal audit staff with the required knowledge.
Answer: C
NEW QUESTION # 108
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