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IIA IIA-CRMA-ADV Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Risk Management Assurance | 55% | - Risk response and mitigation strategies - Risk identification and assessment - Emerging and strategic risks - Assurance mapping and coordination - Monitoring and reporting |
| Internal Audit Roles and Responsibilities | 20% | - International Professional Practices Framework (IPPF) - Role in governance and risk management - Independence and objectivity - Standards and Code of Ethics |
| Risk Management Governance | 25% | - Roles of board, audit committee and management - Governance frameworks and structures - COSO, ISO 31000 and other standards - Risk culture and appetite |
IIA Certification in Risk Management Assurance Sample Questions:
The chief audit executive (CAE) of a small internal audit activity (IAA) performs all high-risk engagements on the annual audit plan to make use of his knowledge and experience and to maximize the efficient use of audit resources. Which of the following statements is most relevant regarding this practice?
- A. The CAE's work should be reviewed by an individual with the appropriate background and knowledge.
- B. The CAE's work may be reviewed by any other experienced staff member within the IAA.
- C. The CAE may self-review his work, provided he discloses this practice in the final report.
- D. The CAE should avoid performing engagements to ensure he is able to review all audit work objectively.
Correct Answer: A 🗳️
Which of the following documents is most appropriate in promoting the objectivity of the internal audit activity?
- A. Personal responsibility policy.
- B. Usage of IT system policy.
- C. Risk management framework.
- D. Acceptance of gifts policy.
Correct Answer: D 🗳️
An internal auditor is performing analytical reviews as part of an audit of a supermarket's merchandising department. Because the economy has declined since midyear, the auditor can expect to encounter which of the following?
- A. Lower sales volume.
- B. Higher inventory turnover.
- C. Lower obsolete stock disposal.
- D. Higher operating margin.
Correct Answer: A 🗳️
According to IIA guidance, when preparing the charter for the internal audit activity, the chief audit executive (CAE), board, and senior management should agree on which of the following?
1. The standards to be used by the internal audit activity.
2. The internal audit activity's code of ethics.
3. The CAE's reporting line.
4. The internal audit activity's responsibilities.
- A. 1 and 2 only.
- B. 3 and 4.
- C. 4 only.
- D. 1,2, and 3.
Correct Answer: B 🗳️
Which of the following is not a standard technique that the chief audit executive (CAE) would use to provide evidence of supervisory review of working papers?
- A. The CAE completes an engagement working paper checklist.
- B. The CAE prepares a memorandum discussing the results of the working paper review.
- C. The CAE initials and dates every working paper after it has been reviewed.
- D. The CAE utilizes an external third party to make an objective recommendation after each working paper review.
Correct Answer: D 🗳️
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