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QUESTION: 1

What is the primary purpose of a fishbone diagram?

To depict the areas of responsibility for departments in an organization.
To plan and control complex projects, such as internal audits.
To represent the frequencies of adverse conditions in a given process.
To identify the possible causes of adverse conditions.

Answer(s): D

QUESTION: 2

In which of the following scenarios would a customer service hotline receive a high volume of complaints regarding payments not being applied to customers’ accounts?

Invoices are not being mailed to customers.
An employee is tampering with customer checks.
Employees are submitting fraudulent expense reports.
The customer service department is not forwarding complaints to the accounts receivable department.

Answer(s): B

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Which of the following is a valid statement about the use of visual observations during an audit engagement?

1. Visual observations can be used to detect ineffective controls, idle resources, and safety hazards.
2. Visual observations can be used during both preliminary survey and fieldwork stages of the audit engagement.
3. Visual observations can provide unsubstantiated facts to management if the internal auditor believes the information isuseful.
4. Visual observations can assist an auditor in determining if a material observation should be communicated through informal means to the organization’s senior management.

1 and 2 only
1and4only
2and3only
3and4only

Answer(s): A

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QUESTION: 4

An internal auditor for a large retail chain suspects that a store manager has been stealing money from cash sales by listing the sales as accounts receivable and then writing off the accounts as bad debts. Which of the following irregularities is the most likely cause of the auditor's suspicion?

A much higher bad debt expense as a percentage of sales than that of previous years.
A much higher bad debt expense as a percentage of sales than that of other stores.
A much higher percentage of past-due accounts receivable than that of other stores.
A much higher percentage of past-due accounts receivable than that of previous years.

Answer(s): B

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QUESTION: 5

Which of the following would provide the best guidance to a chief audit executive who is setting internal audit staff requirements?

A review of audit staff education and training records.
Information about the audit staff size and composition of comparable organizations.
Results from discussions of audit needs with executive management and the audit committee.
The results of the audit staff's most recent performance reviews.

Answer(s): C

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IIA IIA-CRMA Exam (page: 1)
IIA Certification in Risk Management Assurance (CRMA) Exam
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IIA IIA-CRMA Exam (page: 1)
IIA Certification in Risk Management Assurance (CRMA) Exam
Updated on: 31-Mar-2026