IIA Exam IIA-CRMA Topic 8 Question 74 Discussion

Actual exam question for IIA's Certification in Risk Management Assurance (CRMA) Exam exam

Question #: 74
Topic #: 8

[All Certification in Risk Management Assurance (CRMA) Exam Questions]

While auditing an organization's credit approval process, an internal auditor learns that the organization has made a large loan to another auditor's relative. Which course of action should the auditor take?

AProceed with the audit engagement, but do not include the relative's information.

BHave the chief audit executive and management determine whether the auditor should continue with the audit engagement.

CDisclose in the engagement final communication that the relative is a customer.

DImmediately withdraw from the audit engagement.

Show Suggested Answer

Suggested Answer: B

by Rozella at Apr 13, 2024, 10:20 AM

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Jarod

20 hours ago

Wow, this is a tricky situation. The auditor's relative being a customer of the organization being audited definitely raises some ethical concerns. We need to be very careful here to maintain objectivity and independence.

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