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IIA Certification in Risk Management Assurance Sample Questions:
1. With regard To IT governance, which of the following is the most effective and appropriate role for the internal audit activity?
A) Assist management in interpreting complex IT-related privacy and security risk exposures and evaluating potential mitigation strategies.
B) Evaluate the organization's governance standards and assess IT-related activities to identify gaps and develop policies, ensuring alignment with the organization's risk appetite.
C) Independently evaluate the skills and experience of potential chief information officer candidates to assess the best fit based on the organization's risk appetite.
D) Assess whether governance activities are aligned with the organization's risk appetite and take into consideration emerging risks.
2. 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) 3 and 4.
B) 4 only.
C) 1,2, and 3.
D) 1 and 2 only.
3. When internal auditors are preparing workpapers for the testing stage of an engagement, which of the following guidelines should be observed?
1. Include copies of all client files that were reviewed for the audit.
2. Avoid the use of professional, industry-appropriate jargon and technical terms.
3. Indicate the original sources of all data and information used in the workpapers.
4. Leave blank space for cross-references to be completed during the post-audit process.
A) 1 and 2 only
B) 2 and 3 only
C) 3 and 4 only
D) 1 and 4 only
4. According to the COSO enterprise risk management (ERM) framework, which of the following is not part of the new paradigm in ERM?
A) Aligning risk appetite and strategy.
B) Reducing operational surprises and losses.
C) Assessing the risk factors.
D) Enhancing risk response decisions.
5. According to the HA Code of Ethics, which of the following statements best describes the principle of competency?
A) Internal auditors shall perform their work in accordance with the law and make disclosures expected by the law.
B) Internal auditors shall perform their work in accordance with the Standards.
C) Internal auditors shall be prudent in the use of information acquired while performing their work.
D) Internal auditors shall perform their work with honesty, diligence, and responsibility.
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: A | Question # 3 Answer: B | Question # 4 Answer: C | Question # 5 Answer: B |







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