Question 1

The major considerations in project management can be modified to fit specific projects, but generally include the following:

Accepted Answer

A)  Clarify understanding about the audit mandate 
B)  Develop budgets and Assign staff to the project 
C)  Develop and assign specific tasks 
D)  All of the above. 
A)  Clarify understanding about the audit mandate 
B)  Develop budgets and Assign staff to the project 
C)  Develop and assign specific tasks 
D)  All of the above.

Question 2

The ultimate penalty is generally _____ and _____guidelines are developed to ensure that the termination is warranted and that the employee has been adequately apprised of his or her behavioral problem:

Accepted Answer

A)  termination, formal 
B)  discipline, informal 
C)  evaluation, informal 
D)  discipline, formal 
A)  termination, formal 
B)  discipline, informal 
C)  evaluation, informal 
D)  discipline, formal

Question 3

Which committee of IFAC issues pronouncements aimed at developing and harmonizing public sector financial reporting, accounting, and auditing practices while Public sector refers to national governments, regional (state, provincial, territorial) governments, local (city, town) governments, and related governmental entities (agencies, boards, commissions, and enterprises)?

Accepted Answer

A)  Ethic's committee 
B)  General rules and regulation committee 
C)  Public Sector Committee (PS
C)  
D)  Advisory committee 
A)  Ethic's committee 
B)  General rules and regulation committee 
C)  Public Sector Committee (PS
C)  
D)  Advisory committee

Question 4

________make decisions themselves and issue orders to subordinates without seeking their input and without regard to their feelings where as __________ use a more democratic approach to leadership. Practitioners of participate management seek out and incorporate input from subordinates when making decisions.

Accepted Answer

A)  Participate managers, Autocratic managers 
B)  Directing managers, Consultative managers 
C)  Autocratic managers, Participate managers 
D)  Consultative managers, Directing managers 
A)  Participate managers, Autocratic managers 
B)  Directing managers, Consultative managers 
C)  Autocratic managers, Participate managers 
D)  Consultative managers, Directing managers

Question 5

All of the following are the General questions auditors need to answer when auditing an organization's control environment please chooses the correct option:

Accepted Answer

A)  Does management establish and maintain effective policies and procedures related to control? 
B)  Does management communicate its support for controls throughout the organization? 
C)  Does management provide a favorable control environment in the organization? 
D)  All of the above 
A)  Does management establish and maintain effective policies and procedures related to control? 
B)  Does management communicate its support for controls throughout the organization? 
C)  Does management provide a favorable control environment in the organization? 
D)  All of the above

Question 6

Both_______ and _______ stress the concept of self-assessment and responsibility of management in maintaining and monitoring the internal control environment. The primary goals of maintaining the effectiveness and efficiency of operations, ensuring the reliability of financial reporting and complying with applicable laws and regulations, are the same for both:

Accepted Answer

A)  The Institute of Internal Auditors (II
A)  Standards, the Committee of Sponsoring Organizations of the Treadway Commission (COSO), 
B)  The Committee of Sponsoring Organizations of the Treadway Commission (COSO), the Canadian Institute of Chartered Accountants' Criteria of Control (CoCo) 
C)  International Organization of Supreme Audit Institutions (INTOSAI) Standards, the Canadian Institute of Chartered Accountants' Criteria of Control (CoCo) 
D)  The Institute of Internal Auditors (II
A)  Standards, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) 
A)  The Institute of Internal Auditors (II
A)  Standards, the Committee of Sponsoring Organizations of the Treadway Commission (COSO), 
B)  The Committee of Sponsoring Organizations of the Treadway Commission (COSO), the Canadian Institute of Chartered Accountants' Criteria of Control (CoCo) 
C)  International Organization of Supreme Audit Institutions (INTOSAI) Standards, the Canadian Institute of Chartered Accountants' Criteria of Control (CoCo) 
D)  The Institute of Internal Auditors (II
A)  Standards, the Committee of Sponsoring Organizations of the Treadway Commission (COSO)

Question 7

_______is the form used for most legislation, whether permanent or temporary, general or special, public or private. Bills are presented to the president for action when approved in identical form by both the House of Representatives and the Senate. Where ______ may originate either in the House of Representatives or in the Senate. There is little practical difference between a bill and a joint resolution.

Accepted Answer

A)  Bill, joint resolution 
B)  Joint resolution, bill 
C)  Concurrent resolutions, Simple resolutions 
D)  Simple resolutions, joint resolution 
A)  Bill, joint resolution 
B)  Joint resolution, bill 
C)  Concurrent resolutions, Simple resolutions 
D)  Simple resolutions, joint resolution

Question 8

The Professional Practices Framework consists of three categories of guidance which included all of the following EXCEPT:

Accepted Answer

A)  Mandatory Guidance 
B)  Development and practice aids 
C)  Practice Advisories 
D)  Security Advisories 
A)  Mandatory Guidance 
B)  Development and practice aids 
C)  Practice Advisories 
D)  Security Advisories

Question 9

All of the following groups benefit from the existence of audit standards in a variety of ways EXCEPT:

Accepted Answer

A)  Elected officials and the public receive increased assurance that public funds are being effectively used and monitored 
B)  Government organization 
C)  Management receives increased assurance that fraud or other organizational deficiencies will be detected and corrected. 
D)  External parties and reviewers are provided with usable measurement guidelines. 
A)  Elected officials and the public receive increased assurance that public funds are being effectively used and monitored 
B)  Government organization 
C)  Management receives increased assurance that fraud or other organizational deficiencies will be detected and corrected. 
D)  External parties and reviewers are provided with usable measurement guidelines.

Question 10

Many _____________________ are conducted in accordance with established Standards, INTOSAI, or IFAC standards. The International Organization of Supreme Audit Institutions ______________________ promulgates standards for government organizations where as the International Federation of Accountants _________________ provides additional guidance and standards:

Accepted Answer

A)  Government audits, (IFA
C) , (INTOSAI) 
B)  Government audits, (INTOSAI), (IFA
C)  
C)  (IFA
C) , (INTOSAI), Government audits 
D)  (IFA
C) , Government audits, (INTOSAI) 
A)  Government audits, (IFA
C) , (INTOSAI) 
B)  Government audits, (INTOSAI), (IFA
C)  
C)  (IFA
C) , (INTOSAI), Government audits 
D)  (IFA
C) , Government audits, (INTOSAI)

Question 11

In addition to the characteristics described above, performance measurement information should have all of the following characteristics EXCEPT:

Accepted Answer

A)  Relevant (related to program's objectives) 
B)  Accurate (complete and error free.) 
C)  Easy to understand and use (free of jargon and with key terms defined) 
D)  easily accessible 
A)  Relevant (related to program's objectives) 
B)  Accurate (complete and error free.) 
C)  Easy to understand and use (free of jargon and with key terms defined) 
D)  easily accessible

Question 12

__________ result when evidence is used incorrectly. Where as ________ result from a failure to follow the logic of a series of statements. Deductive arguments are based on a series of statements or premises. Deductive logic states that if a series of premises is true, then the conclusion must also be true.

Accepted Answer

A)  Inductive fallacies, deductive fallacies 
B)  Deductive fallacies, inductive fallacies 
C)  All of the above. 
D)  None of the above. 
A)  Inductive fallacies, deductive fallacies 
B)  Deductive fallacies, inductive fallacies 
C)  All of the above. 
D)  None of the above.

Question 13

____________ is an independent, objective assurance and consulting activity designed to add value and improve organizations operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

Accepted Answer

A)  Internal auditing 
B)  External auditing 
C)  Compliance audit 
D)  None 
A)  Internal auditing 
B)  External auditing 
C)  Compliance audit 
D)  None

Question 14

All of the following are the distinguishing features of a project EXCEPT:

Accepted Answer

A)  It is characterized by phases or milestones (e.g., needs analysis/feasibility assessment of options, project plan, project implementation, completion/post-project evaluation). 
B)  Making organizational charts. 
C)  It is defined by a specific objective. 
D)  It has a beginning and an end. 
A)  It is characterized by phases or milestones (e.g., needs analysis/feasibility assessment of options, project plan, project implementation, completion/post-project evaluation). 
B)  Making organizational charts. 
C)  It is defined by a specific objective. 
D)  It has a beginning and an end.

Question 15

The steps in developing an activity-based costing system are as follows EXCEPT:

Accepted Answer

A)  Identify which areas (e.g., programs or services) will be subjected to activity based costing and determine how the results of activity-based costing will be used. 
B)  Control the costs. 
C)  Define the activities in the organization that produce the program or service being subjected to activity-based costing. 
D)  Link the cost of resources to specific activities through the use of resource 
A)  Identify which areas (e.g., programs or services) will be subjected to activity based costing and determine how the results of activity-based costing will be used. 
B)  Control the costs. 
C)  Define the activities in the organization that produce the program or service being subjected to activity-based costing. 
D)  Link the cost of resources to specific activities through the use of resource

Question 16

A material misstatement is one that the auditor determines would change or influence the opinion of a reasonable person relying on the financial statements for information. Material misstatements may result from the following please choose the correct option:

Accepted Answer

A)  Misapplication of accounting principles. 
B)  Omission of necessary information. 
C)  Inaccurate or misleading information. 
D)  All of the above. 
A)  Misapplication of accounting principles. 
B)  Omission of necessary information. 
C)  Inaccurate or misleading information. 
D)  All of the above.

Question 17

_________ is an independent, objective assurance and consulting activity designed to add value and improve organizations operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of ________, _________, and governance processes.

Accepted Answer

A)  Internal auditing, risk management, control 
B)  Internal auditing, risk management, planning 
C)  Internal auditing, content management, control 
D)  External auditing, risk management, control 
A)  Internal auditing, risk management, control 
B)  Internal auditing, risk management, planning 
C)  Internal auditing, content management, control 
D)  External auditing, risk management, control

Question 18

Authorization - a statute or legislation that establishes or continues a national program or agency. Where as advance appropriation - budget authority provided in an appropriation act that is first available in a fiscal year beyond the fiscal year for which the appropriation is enacted.

Accepted Answer

A)  Advance appropriation, Authorization 
B)  Authorization, Advance appropriation 
C)  Budget authority, Appropriation act 
D)  Appropriation act, Budget authority 
A)  Advance appropriation, Authorization 
B)  Authorization, Advance appropriation 
C)  Budget authority, Appropriation act 
D)  Appropriation act, Budget authority

Question 19

All of the following are the reporting standards in government auditing EXCEPT:

Accepted Answer

A)  The work of the audit staff at each level and audit phase should be properly supervised during the audit; and documented work should be reviewed by a senior member of the audit staff. 
B)  It is for the SAI to which they belong to decide finally on the action to be taken 
C)  None 
D)  The auditor should plan the audit in a manner which ensures that an audit of high quality is carried out in an economic, efficient, and effective way and in a timely manner. 
A)  The work of the audit staff at each level and audit phase should be properly supervised during the audit; and documented work should be reviewed by a senior member of the audit staff. 
B)  It is for the SAI to which they belong to decide finally on the action to be taken 
C)  None 
D)  The auditor should plan the audit in a manner which ensures that an audit of high quality is carried out in an economic, efficient, and effective way and in a timely manner.

Question 20

The final investigative report serves all of the following major purposes please choose the correct option:

Accepted Answer

A)  Management overview or a brief summary of the case and details of the people involved and recommended actions. 
B)  To provide a format for recording the essential details of the integrity violation. 
C)  All of the above. 
D)  To recommend improved management and security policies. 
A)  Management overview or a brief summary of the case and details of the people involved and recommended actions. 
B)  To provide a format for recording the essential details of the integrity violation. 
C)  All of the above. 
D)  To recommend improved management and security policies.

The major considerations in project management can be modified to fit specific projects, but generally include the following:

The ultimate penalty is generally _ and _guidelines are developed to ensure that the termination is warranted and that the employee has been adequately apprised of his or her behavioral problem:

make decisions themselves and issue orders to subordinates without seeking their input and without regard to their feelings where as __ use a more democratic approach to leadership. Practitioners of participate management seek out and incorporate input from subordinates when making decisions.

All of the following are the General questions auditors need to answer when auditing an organization's control environment please chooses the correct option:

The Professional Practices Framework consists of three categories of guidance which included all of the following EXCEPT:

All of the following groups benefit from the existence of audit standards in a variety of ways EXCEPT:

In addition to the characteristics described above, performance measurement information should have all of the following characteristics EXCEPT:

__ result when evidence is used incorrectly. Where as result from a failure to follow the logic of a series of statements. Deductive arguments are based on a series of statements or premises. Deductive logic states that if a series of premises is true, then the conclusion must also be true.

All of the following are the distinguishing features of a project EXCEPT:

The steps in developing an activity-based costing system are as follows EXCEPT:

A material misstatement is one that the auditor determines would change or influence the opinion of a reasonable person relying on the financial statements for information. Material misstatements may result from the following please choose the correct option:

_ is an independent, objective assurance and consulting activity designed to add value and improve organizations operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of , _, and governance processes.

Authorization - a statute or legislation that establishes or continues a national program or agency. Where as advance appropriation - budget authority provided in an appropriation act that is first available in a fiscal year beyond the fiscal year for which the appropriation is enacted.

All of the following are the reporting standards in government auditing EXCEPT:

The final investigative report serves all of the following major purposes please choose the correct option:

Certified Financial Services Auditor

The Internal Audit Activity Role in Governance, Risk, and Control

Conducting the Internal Audit Engagement

Business Analysis and Information Technology

Filters

Exam 2: Certified Government Auditing Professional

The major considerations in project management can be modified to fit specific projects, but generally include the following:

The ultimate penalty is generally _____ and _____guidelines are developed to ensure that the termination is warranted and that the employee has been adequately apprised of his or her behavioral problem:

All of the following are the General questions auditors need to answer when auditing an organization's control environment please chooses the correct option:

The Professional Practices Framework consists of three categories of guidance which included all of the following EXCEPT:

All of the following groups benefit from the existence of audit standards in a variety of ways EXCEPT:

In addition to the characteristics described above, performance measurement information should have all of the following characteristics EXCEPT:

All of the following are the distinguishing features of a project EXCEPT:

The steps in developing an activity-based costing system are as follows EXCEPT:

A material misstatement is one that the auditor determines would change or influence the opinion of a reasonable person relying on the financial statements for information. Material misstatements may result from the following please choose the correct option:

Authorization - a statute or legislation that establishes or continues a national program or agency. Where as advance appropriation - budget authority provided in an appropriation act that is first available in a fiscal year beyond the fiscal year for which the appropriation is enacted.

All of the following are the reporting standards in government auditing EXCEPT:

The final investigative report serves all of the following major purposes please choose the correct option:

Certified Financial Services Auditor

The Internal Audit Activity Role in Governance, Risk, and Control

Conducting the Internal Audit Engagement

Business Analysis and Information Technology

Filters

The ultimate penalty is generally _ and _guidelines are developed to ensure that the termination is warranted and that the employee has been adequately apprised of his or her behavioral problem: