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Certification in Risk Management Assurance (CRMA) Exam Questions and Answers

Question 13

Which of the following statements describes a control failure that is not directly attributable to a customer billing application?

1. End users have raised a number of concerns regarding data integrity.

2. An untested program change is transferred from the test environment to production.

3. Purchase history does not reconcile with accounts receivable for some customers.

4. End user security is inadvertently granted to an unauthorized individual by management.

Options:

1 and 3.

1 and 4.

2 and 3.

2 and 4.

Question 14

A government agency's policy states that board members' travel and hospitality expenses must be audited annually. Which of following people or groups is most appropriate to perform this audit?

Options:

The government's independent auditor.

The external auditors from an accounting firm.

The internal audit activity.

The agency's chief compliance officer.

Question 15

If an engagement client disputes that a specific action or process is within the scope of the internal audit activity, what would be the most appropriate way for the internal audit activity (IAA) to respond?

Options:

Terminate the audit engagement in full because an operational audit will not be productive without the client's cooperation.

Terminate only the specific action or process with which the client disagrees and work to determine a substitute function that will not impede further IAA or the client-audit relationship.

Refer the client to the IAA's charter and the approved yearly audit plan, which includes the areas designated for audit in the current time period.

Seek the approval of senior management or the board in mediation, allowing an overseer to clarify the scope of the audit engagement for the client.

Question 16

The audit committee is concerned that the small size of the internal audit activity (IAA) makes it impractical to achieve full conformance with the Standards. To address this concern, which of the following actions is most appropriate for the CAE to take?

Options:

The CAE should agree with the audit committee and implement only those standards appropriate to the size of the IAA.

The CAE should request the audit committee to review the Standards to identify specifically which are creating the greatest concern.

The CAE should seek sufficient funding to increase audit resources to meet the minimum requirements of the Standards.

The CAE should explain that conformance with the Standards is essential and not dependent upon the size of the IAA.

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Certification in Risk Management Assurance (CRMA) Exam Questions and Answers

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CompTIA

Fortinet

Microsoft

Salesforce