Free IIA-CRMA Exam Braindumps (page: 25)

Page 25 of 71

A chief audit executive (CAE) learns that the brother-in-law of a senior auditor who audits the procurement process was hired as the head of the procurement department six months prior. Which of the following is the most appropriate action for the CAE to take?

  1. The CAE should not interfere because there is no evidence that a conflict of interest has occurred.
  2. The CAE should remind the senior auditor of his obligation to be objective and impartial.
  3. The CAE should change the senior auditor's assignment and take corrective action for the auditor's failure to disclose the conflict of interest.
  4. The CAE should require the senior auditor to disclose the relationship in writing before continuing his responsibility for monitoring procurement.

Answer(s): C



The chief audit executive (CAE) of a mid-sized pharmaceutical organization has operational responsibility for the regulatory compliance function. The audit committee requests an assessment of regulatory compliance. According to IIA guidance, which of the following is the CAE's best course of action?

  1. Have a proficient internal audit staff member perform the assessment and disclose the impairment in the audit report and to the board.
  2. Have a regulatory compliance staff member perform a self-assessment, to be reviewed by a proficient internal auditor.
  3. Have a proficient internal audit staff member perform the audit and report the results of the assessment directly to senior management and the board.
  4. Contract with a third-party entity or external auditor to complete the assessment and report the results to senior management and the board.

Answer(s): D



Which of the following is not one of the 10 core competencies identified in the IIA Competency Framework?

  1. Governance, risk, and control.
  2. Performance management.
  3. Business acumen.
  4. Internal audit delivery.

Answer(s): B



Which of the following actions should an internal auditor take to exercise due professional care?
1. Consider the probability of significant noncompliance in each audit engagement.
2. Weigh the cost of assurance against the benefits.
3. Perform assurance procedures with sufficient care to ensure that all risks are identified.

  1. 1and2only
  2. 1and3only
  3. 2and3only
  4. 1, 2, and 3

Answer(s): A



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CANADA
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Anonymous
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