• Exam Code: IIA-CRMA-ADV
  • Exam Name: Certification in Risk Management Assurance
  • Certification Provider: IIA
  • Corresponding Certification:CRMA Certification
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IIA IIA-CRMA-ADV Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Risk Management Assurance55%- Risk management approach
  • 1. Select data analytics techniques for risk and assurance
  • 2. Evaluate approaches for assessing risk
- Assurance processes
  • 1. Prioritize audit engagements based on risk assessment
  • 2. Evaluate design and application of risk identification and assessment
  • 3. Evaluate effectiveness of risk management at all levels
- Communication
  • 1. Manage audit communication and reporting
  • 2. Deliver communications on risk management effectiveness
  • 3. Evaluate responses to key organisational risks
Topic 2: Internal Audit Roles and Responsibilities20%- Roles and competencies
  • 1. Evaluate internal audit independence
  • 2. Assess required knowledge, skills, and competencies
  • 3. Determine assurance and consulting services for risk management
- Coordination
  • 1. Assist with internal risk assurance mapping
  • 2. Recommend organisationwide risk management strategy
  • 3. Coordinate risk assurance efforts
Topic 3: Risk Management Governance25%- Governance, risk, and control frameworks
  • 1. Assess key elements of risk culture and oversight
  • 2. Assess application of risk and control frameworks
  • 3. Evaluate governance structure and risk management concepts
- Risk management integration
  • 1. Examine integrated risk reporting effectiveness
  • 2. Analyze integration into objectives and strategy
  • 3. Evaluate management's commitment to risk management

IIA Certification in Risk Management Assurance Sample Questions:

Which of the following options is the most cost-effective and efficient way for internal auditors to keep current with the latest developments in the internal audit profession?

  • A. Attending annual professional conferences and seminars.
  • B. Participating in on-the-job training in various departments of the organization.
  • C. Pursuing as many professional certifications as possible.
  • D. Maintaining membership in The HA and similar professional organizations and subscribing to relevant email updates or news feeds.
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

Which of the following is an activity that an internal auditor must not perform?

  • A. Assess the risk of being fined for ineffective anti-money laundering practices.
  • B. Establish and provide continuing assurance on an anti-money laundering program for new hires.
  • C. Provide assurance for the effectiveness of anti-money laundering training.
  • D. Survey employees for their understanding of anti-money laundering practices.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

Internal auditors must exercise due professional care by considering which of the following?
1. Cost of assurance in relation to potential benefits.
2. Adequacy and effectiveness of governance, risk management, and control processes.
3. Management's competency level in the area being evaluated.
4. Probability of significant errors, fraud, or noncompliance.

  • A. 1 and 2 only
  • B. 1, 2, and 4 only
  • C. 1, 2, and 3 only
  • D. 2, 3, and 4 only
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

Which of the following is an example of a transaction-level control?

  • A. Inventory counts.
  • B. Tone at the top.
  • C. Reconciliations of primary accounts.
  • D. Human resource policies.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

Which of the following describes a key characteristic related to effective organizational communication?

  • A. A well-designed system of internal controls.
  • B. Unique operating environments with varying complexity.
  • C. Comprehensive supervisory and verification procedures.
  • D. A culture of integrity and transparency.
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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