IIA-CRMA Exam - Topic 2 Question 95 Discussion

Actual exam question for IIA's IIA-CRMA exam

Question #: 95
Topic #: 2

During an audit, the client questions the internal audit activity's authority to perform procedures over fraud allegations. According to HA guidance, which of the following would provide the most relevant support to respond to the client's concerns?

ADefinition of Internal Auditing.

BMA Standards.

CInternal audit charter.

DThe IIA's Code of Ethics.

Show Suggested Answer

Suggested Answer: C

by Quentin at Jan 14, 2025, 08:33 PM

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Georgene

3 months ago

I thought the IIA's Code of Ethics was more relevant.

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Delmy

4 months ago

MA Standards also play a big role in this.

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Elinore

4 months ago

Wait, can the charter really cover fraud allegations?

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Jani

4 months ago

Totally agree, the charter lays it all out.

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Pete

4 months ago

The internal audit charter is key for authority!

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Tamekia

5 months ago

The IIA's Code of Ethics is crucial, but I wonder if it directly addresses authority over fraud allegations like the charter does.

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Keva

5 months ago

I feel like the definition of internal auditing could help, but it seems more general compared to the charter.

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Ashton

5 months ago

I'm not entirely sure, but I remember something about the MA Standards being important for establishing authority in audits.

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Santos

5 months ago

I think the internal audit charter might be the best choice since it outlines the authority and responsibilities of the internal audit activity.

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Beatriz

5 months ago

I'm a little confused by this question. I know the IIA has various standards and guidance, but I'm not sure which one would be most relevant in this situation. I'll have to review my notes to refresh my memory.

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Gregg

5 months ago

The internal audit charter seems like the obvious choice here. It outlines the purpose, authority, and responsibility of the internal audit activity, which should address the client's concerns about the audit team's authority.

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Benedict

5 months ago

Hmm, I'm a bit unsure about this one. I'm trying to remember the different types of guidance that internal auditors can refer to. I'll have to think this through carefully.

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Andree

5 months ago

This seems like a straightforward question about internal audit guidance. I think the internal audit charter would provide the most relevant support to respond to the client's concerns.

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Tegan

10 months ago

The internal audit charter is the way to go. It's the superhero's cape that gives internal auditors the authority to swoop in and tackle those pesky fraud allegations.

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Roslyn

9 months ago

D) The IIA's Code of Ethics.

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Shawn

9 months ago

C) Internal audit charter.

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Hyun

9 months ago

B) MA Standards.

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Carissa

9 months ago

A) Definition of Internal Auditing.

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Adelina

10 months ago

Well, the client is questioning the internal audit's authority, so the internal audit charter is the way to go. It's like a superpower contract that gives internal auditors the right to do their job!

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Virgie

8 months ago

C) Internal audit charter.

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Mollie

9 months ago

B) MA Standards.

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Sheldon

9 months ago

A) Definition of Internal Auditing.

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Vi

10 months ago

I'm not sure the definition of internal auditing or the IIA's Code of Ethics would be as helpful here. The internal audit charter is the document that clearly defines the scope and authority of the internal audit activity.

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Eveline

9 months ago

C) Internal audit charter.

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Antonio

9 months ago

B) MA Standards.

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Caitlin

10 months ago

A) Definition of Internal Auditing.

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Denise

11 months ago

The internal audit charter would definitely provide the most relevant support to address the client's concerns. It outlines the authority and responsibilities of the internal audit function.

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