Exam 2: Certified Government Auditing Professional

The third category of guidance ___________ includes a variety of materials that are developed and/or endorsed by the IIA. This category includes research studies, books, seminars, conferences, and other products and services related to the professional practice of internal auditing that do not meet the criteria for inclusion in mandatory guidance or Practice Advisories:

A code of ethics is necessary and appropriate for the profession of internal auditing, founded as it is on the trust placed in its objective assurance about risk management, control, and governance. The IIA's Code of Ethics extends beyond the definition of internal auditing to include the following essential Components please chooses the correct option:

The control environment sets the tone of an organization and influences the control consciousness of its employees. The characteristics of an effective control environment are all of the following EXCEPT:

_______is the risk that can be controlled by various preventative measures such as adding personnel to a function, installing burglar alarms, increasing the frequency and level of management review, or implementing tighter standards. Where as _______ is the Risk that can be transferred by purchasing insurance policies to cover losses of several types such as cash, property, or facilities.

Statistical sampling allows the auditor to limit sampling risk to an acceptable level. Following are major classifications of sample selection are all of the following EXCEPT:

All of the following are the examples Purchasing/Inventory Red Flags EXCEPT:

All of the following are the Specific aspects of proper audit supervision EXCEPT:

Although a government can have as many funds as it wishes, all of the funds must be classified into one of the following fund types EXCEPT.

______is the middle position in an array of values. The median value can be misleading in small data sets, so it is usually used to characterize a large number of values. Where as the ______ is the most commonly occurring value in an array. The mode is a less frequently used measure of average because a mode may not exist in some sets of data, or there may be more than one mode in the data set.

An integrated budget provides the mechanism to review spending activities and make judgments on the appropriateness of those expenditures. Where as Capital budgeting is often based on the issuance of capital debt.

The mission of the _________is to establish and improve standards of state and local governmental accounting and financial reporting that will result in useful information for users of financial reports, and guide and educate the public, including issuers, auditors, and users of those financial reports. ___________establishes new requirements for the annual financial reporting for state and local government.

A survey is a process for gathering information, without detailed verification, on the activity being examined. A survey may involve use of all of the following procedures EXCEPT:

Internal controls consist of all of the following interrelated components please choose the correct option:

The characteristics of ____________ will vary based on the _____ of the audit unit and the nature of its work. Where as the frequency of required quality assurance reviews varies based on the _____ of standards followed.

In testing the controls established by management, auditors should be able to identify if there are high-risk areas for integrity violations. Auditor responsibilities for detecting integrity violations include all of the following EXCEPT:

The statistical section contains provides trend data and other nonfinancial information to assist in assessing a government's financial condition. All of the following are the components of this section EXCEPT:

Which of the following are the two broad classifications of management styles please mark the correct option:

Standards must be reviewed and applied appropriately during the conduct of an audit. Following are some illustrations of situations that may arise during the course of an audit EXCEPT:

The __________ expand upon the Attribute and Performance Standards, providing guidance applicable in specific types of engagements. These standards ultimately may deal with industry specific, regional, or specialty types of audit services:

________ is usually applied to testing systems of internal control and is concerned with estimating the number of errors in the population. This sampling calls for an answer on a two way scale (e.g., Yes or No, Right or Wrong). Where as _______ can be used for values such as dollar values, time periods, or weights. Estimates are based on a sample of items such as the value of inventories, the value of disallowances of travel vouchers, or the value of accounts receivable.