Question 1

The budgeting cycle incorporates all of the following components EXCEPT:

Accepted Answer

A)  Controlling 
B)  Executive preparation 
C)  Legislative consideration 
D)  Audit and evaluation 
A)  Controlling 
B)  Executive preparation 
C)  Legislative consideration 
D)  Audit and evaluation

Question 2

As a part of the development of the Professional Practices Framework, significant portions of the information contained in the __________ Guidelines have been converted to Practice Advisories. Omnibus Practice Advisories ___________ are based on information previously published in the ________ but have been updated to be consistent with the new Standards and the Professional Practices Framework:

Accepted Answer

A)  "Yellow Book", 100-1 through 3600-1, "Red Book" 
B)  "Red Book", 1000-1 through 2600-1, "Red Book" 
C)  "Black Book", 2000-1 through 2600-1, "Red Book" 
D)  "Blue Book", 1000-1 through 600-1, "Red Book" 
A)  "Yellow Book", 100-1 through 3600-1, "Red Book" 
B)  "Red Book", 1000-1 through 2600-1, "Red Book" 
C)  "Black Book", 2000-1 through 2600-1, "Red Book" 
D)  "Blue Book", 1000-1 through 600-1, "Red Book"

Question 3

Strategic planning in government is the process of making decisions about how to achieve an entity's mandates and goals and determining the resources required to accomplish those goals. Where as Strategic plans should be updated on a regular basis and are long-term in nature:

Accepted Answer

A)  Strategic plans, long-term Strategic, planning 
B)  Strategic planning, Short-term, Strategic plans 
C)  Strategic planning, Strategic plans, long-term 
D)  Strategic planning, Strategic plans, short-term 
A)  Strategic plans, long-term Strategic, planning 
B)  Strategic planning, Short-term, Strategic plans 
C)  Strategic planning, Strategic plans, long-term 
D)  Strategic planning, Strategic plans, short-term

Question 4

Risk assessment allows organizations to identify potential effects and their significance. Management should continually monitor and assess potential risks that could keep the organization from achieving its goals in all of the following key areas EXCEPT:

Accepted Answer

A)  Effectiveness - whether the organization is meeting its objectives. 
B)  Compliance - whether the organization is meeting laws and regulations or not exceeding appropriated budgets. 
C)  Completeness. 
D)  Safeguarding of assets - whether the organization is protecting its assets against integrity violations. 
A)  Effectiveness - whether the organization is meeting its objectives. 
B)  Compliance - whether the organization is meeting laws and regulations or not exceeding appropriated budgets. 
C)  Completeness. 
D)  Safeguarding of assets - whether the organization is protecting its assets against integrity violations.

Question 5

All of The following are guidelines for developing adequate performance measures EXCEPT:

Accepted Answer

A)  Use a "family" of measures to capture multiple dimensions of performance. 
B)  Renewal application (number of applications received). 
C)  Performance measures should be comprehensive enough to reach valid conclusions about the program. 
D)  Measures used should focus on measurable aspects of performance. 
A)  Use a "family" of measures to capture multiple dimensions of performance. 
B)  Renewal application (number of applications received). 
C)  Performance measures should be comprehensive enough to reach valid conclusions about the program. 
D)  Measures used should focus on measurable aspects of performance.

Question 6

All of the following are the examples of Resources (and resource drivers) EXCEPT:

Accepted Answer

A)  Facilities (cost per square foot of space allocated to licensing function, times percent of renewals received). 
B)  Licensing staff (payroll costs for time spent receiving/processing renewal applications). 
C)  Central data processing equipment (equipment cost for time generation license renewal notices). 
D)  Determine eligibility (number of applications reviewed for eligibility). 
A)  Facilities (cost per square foot of space allocated to licensing function, times percent of renewals received). 
B)  Licensing staff (payroll costs for time spent receiving/processing renewal applications). 
C)  Central data processing equipment (equipment cost for time generation license renewal notices). 
D)  Determine eligibility (number of applications reviewed for eligibility).

Question 7

Following is the information that audit charters generally address.

Accepted Answer

A)  Definition of the audit unit's responsibilities, goals, and objectives 
B)  The phrases used to express the auditor's opinion are "give a true and fair view" or "present fairly, in all material respects", which are equivalent terms. 
C)  The objective of an audit of financial statements is to enable the auditor to express an opinion whether the financial statements are prepared, in all material respects, in accordance with an identified financial reporting framework. 
D)  The auditor's opinion enhances the credibility of the financial statements, the user cannot assume that the opinion is an assurance as to the future viability of the entity nor the efficiency or effectiveness with which management has conducted the affairs of the entity. 
A)  Definition of the audit unit's responsibilities, goals, and objectives 
B)  The phrases used to express the auditor's opinion are "give a true and fair view" or "present fairly, in all material respects", which are equivalent terms. 
C)  The objective of an audit of financial statements is to enable the auditor to express an opinion whether the financial statements are prepared, in all material respects, in accordance with an identified financial reporting framework. 
D)  The auditor's opinion enhances the credibility of the financial statements, the user cannot assume that the opinion is an assurance as to the future viability of the entity nor the efficiency or effectiveness with which management has conducted the affairs of the entity.

Question 8

Methods of analyzing data in summative evaluations include all of the following EXCEPT:

Accepted Answer

A)  Content analysis 
B)  Experiments 
C)  Interviews. 
D)  Contact summary form 
A)  Content analysis 
B)  Experiments 
C)  Interviews. 
D)  Contact summary form

Question 9

Control self-assessments help identify internal control weaknesses and solutions. Where as Auditors can assist in this process by providing direct assistance or specific information related to such areas as establishing and monitoring effective internal controls, risk assessments, and sampling.

Accepted Answer

A)  Control self-assessments, creditors 
B)  Audit self-assessments, debtor 
C)  Control self-assessments, auditors 
D)  Control self-assessments, owners 
A)  Control self-assessments, creditors 
B)  Audit self-assessments, debtor 
C)  Control self-assessments, auditors 
D)  Control self-assessments, owners

Question 10

All of following areas of financial information should be Considered by the auditors and Auditors must need to be familiar with the customers controls related to financial reporting, safeguarding financial transactions, and compliance with laws and regulations affecting the financial statements if they plan to rely on them in order to reduce substantive testing on the financial statement audit EXCEPT:

Accepted Answer

A)  How transactions are classified and how transactions are initiated? 
B)  Who maintains the accounting records? 
C)  How accounting records are maintained and what accounting processes are used? 
D)  What methods are used to communicate financial information within the entity? 
A)  How transactions are classified and how transactions are initiated? 
B)  Who maintains the accounting records? 
C)  How accounting records are maintained and what accounting processes are used? 
D)  What methods are used to communicate financial information within the entity?

Question 11

Information used in reporting should be reviewed for accuracy and contain all of the following characteristics EXCEPT:

Accepted Answer

A)  Relevance and understandability 
B)  Comparability and timeliness 
C)  Consistency and reliability 
D)  Planning an organizing 
A)  Relevance and understandability 
B)  Comparability and timeliness 
C)  Consistency and reliability 
D)  Planning an organizing

Question 12

Personnel systems and central personnel offices typically provide all of the following services EXCEPT:

Accepted Answer

A)  Selection 
B)  Planning 
C)  Recruiting 
D)  Training 
A)  Selection 
B)  Planning 
C)  Recruiting 
D)  Training

Question 13

Who gather and analyze information and control structures in order to evaluate whether public agencies are accomplishing their objectives or not?

Accepted Answer

A)  Controllers 
B)  Planners 
C)  Auditors 
D)  Leaders 
A)  Controllers 
B)  Planners 
C)  Auditors 
D)  Leaders

Question 14

Following are the advantages of privatization listed below please choose the correct option:

Accepted Answer

A)  Increased potential for corruption and fraud as services are outsourced to multiple firms. 
B)  Reduced control over services as services are outsourced to multiple firms. 
C)  Limited numbers of potential vendors (increased costs). 
D)  More responsiveness to service consumers and more metrics to measure performance as profit incentives are introduced. 
A)  Increased potential for corruption and fraud as services are outsourced to multiple firms. 
B)  Reduced control over services as services are outsourced to multiple firms. 
C)  Limited numbers of potential vendors (increased costs). 
D)  More responsiveness to service consumers and more metrics to measure performance as profit incentives are introduced.

Question 15

Telecommunication systems control the transmission of messages between users and the computer. Control over the telecommunication network is necessary to ensure that only authorized users have access to the computer facilities. Control techniques for telecommunication include all of the following EXCEPT:

Accepted Answer

A)  Implementing procedures for testing and approving telecommunication software changes. 
B)  Analyzing response time, detecting problems, and documenting problem resolutions. 
C)  Selecting available security options built into the telecommunications software (i.e., data encryption). 
D)  Implementing standards, policies, and procedures for administering the systems programming function. 
A)  Implementing procedures for testing and approving telecommunication software changes. 
B)  Analyzing response time, detecting problems, and documenting problem resolutions. 
C)  Selecting available security options built into the telecommunications software (i.e., data encryption). 
D)  Implementing standards, policies, and procedures for administering the systems programming function.

Question 16

_________assess the overall effect of the program and are typically conducted on a periodic or as needed basis, in contrast to performance measurement, which is performed on an ongoing basis.

Accepted Answer

A)  Performance evaluation 
B)  Program evaluations 
C)  Evaluate employees 
D)  Evaluate performance 
A)  Performance evaluation 
B)  Program evaluations 
C)  Evaluate employees 
D)  Evaluate performance

Question 17

Financial statements which are fairly presented meet all of the following guide lines EXCEPT:

Accepted Answer

A)  Generally accepted accounting principles are used. 
B)  Financial statements reflect underlying transactions and events in a way that facilities the presentation of the financial position, results of operations, and cash flows. 
C)  Ensuring that staff auditors are qualified to perform their assignments and verifying that audit working papers adequately support audit findings, conclusions, and recommendations. 
D)  Financial statements classify and summarize information in a reasonable manner 
A)  Generally accepted accounting principles are used. 
B)  Financial statements reflect underlying transactions and events in a way that facilities the presentation of the financial position, results of operations, and cash flows. 
C)  Ensuring that staff auditors are qualified to perform their assignments and verifying that audit working papers adequately support audit findings, conclusions, and recommendations. 
D)  Financial statements classify and summarize information in a reasonable manner

Question 18

All of the following are Methods of measuring performance EXCEPT:

Accepted Answer

A)  Manual tracking and summarizing of activity. 
B)  Routine collection of data either through entry or upload into automated systems. 
C)  Periodic sampling, such as through citizen surveys, random time studies, or random sampling of agency data. 
D)  Calculations based on current trends. 
A)  Manual tracking and summarizing of activity. 
B)  Routine collection of data either through entry or upload into automated systems. 
C)  Periodic sampling, such as through citizen surveys, random time studies, or random sampling of agency data. 
D)  Calculations based on current trends.

Question 19

Criteria to use for selection of performance measures and data collection procedures include all of the following EXCEPT:

Accepted Answer

A)  Appropriateness and Validity. 
B)  Uniqueness, Completeness and Comprehensibility. 
C)  Planning, Controlling and Organizing 
D)  Control ability and Timeliness of Feedback. 
A)  Appropriateness and Validity. 
B)  Uniqueness, Completeness and Comprehensibility. 
C)  Planning, Controlling and Organizing 
D)  Control ability and Timeliness of Feedback.

Question 20

All of the following are characteristics of good governance EXCEPT:

Accepted Answer

A)  Involve people with the necessary knowledge, ability, and commitment to fulfill their responsibilities. 
B)  Are not prepared to ensure that the organization's objectives are met and that performance is satisfactory. 
C)  Fulfill their accountability obligations to those whose interests they represent by reporting on the organization's performance. 
D)  Are prepared to ensure that the organization's objectives are met and that performance is satisfactory. 
A)  Involve people with the necessary knowledge, ability, and commitment to fulfill their responsibilities. 
B)  Are not prepared to ensure that the organization's objectives are met and that performance is satisfactory. 
C)  Fulfill their accountability obligations to those whose interests they represent by reporting on the organization's performance. 
D)  Are prepared to ensure that the organization's objectives are met and that performance is satisfactory.

The budgeting cycle incorporates all of the following components EXCEPT:

Strategic planning in government is the process of making decisions about how to achieve an entity's mandates and goals and determining the resources required to accomplish those goals. Where as Strategic plans should be updated on a regular basis and are long-term in nature:

Risk assessment allows organizations to identify potential effects and their significance. Management should continually monitor and assess potential risks that could keep the organization from achieving its goals in all of the following key areas EXCEPT:

All of The following are guidelines for developing adequate performance measures EXCEPT:

All of the following are the examples of Resources (and resource drivers) EXCEPT:

Following is the information that audit charters generally address.

Methods of analyzing data in summative evaluations include all of the following EXCEPT:

Control self-assessments help identify internal control weaknesses and solutions. Where as Auditors can assist in this process by providing direct assistance or specific information related to such areas as establishing and monitoring effective internal controls, risk assessments, and sampling.

Information used in reporting should be reviewed for accuracy and contain all of the following characteristics EXCEPT:

Personnel systems and central personnel offices typically provide all of the following services EXCEPT:

Who gather and analyze information and control structures in order to evaluate whether public agencies are accomplishing their objectives or not?

Following are the advantages of privatization listed below please choose the correct option:

_________assess the overall effect of the program and are typically conducted on a periodic or as needed basis, in contrast to performance measurement, which is performed on an ongoing basis.

Financial statements which are fairly presented meet all of the following guide lines EXCEPT:

All of the following are Methods of measuring performance EXCEPT:

Criteria to use for selection of performance measures and data collection procedures include all of the following EXCEPT:

All of the following are characteristics of good governance EXCEPT:

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 budgeting cycle incorporates all of the following components EXCEPT:

Strategic planning in government is the process of making decisions about how to achieve an entity's mandates and goals and determining the resources required to accomplish those goals. Where as Strategic plans should be updated on a regular basis and are long-term in nature:

Risk assessment allows organizations to identify potential effects and their significance. Management should continually monitor and assess potential risks that could keep the organization from achieving its goals in all of the following key areas EXCEPT:

All of The following are guidelines for developing adequate performance measures EXCEPT:

All of the following are the examples of Resources (and resource drivers) EXCEPT:

Following is the information that audit charters generally address.

Methods of analyzing data in summative evaluations include all of the following EXCEPT:

Control self-assessments help identify internal control weaknesses and solutions. Where as Auditors can assist in this process by providing direct assistance or specific information related to such areas as establishing and monitoring effective internal controls, risk assessments, and sampling.

Information used in reporting should be reviewed for accuracy and contain all of the following characteristics EXCEPT:

Personnel systems and central personnel offices typically provide all of the following services EXCEPT:

Who gather and analyze information and control structures in order to evaluate whether public agencies are accomplishing their objectives or not?

Following are the advantages of privatization listed below please choose the correct option:

_________assess the overall effect of the program and are typically conducted on a periodic or as needed basis, in contrast to performance measurement, which is performed on an ongoing basis.

Financial statements which are fairly presented meet all of the following guide lines EXCEPT:

All of the following are Methods of measuring performance EXCEPT:

Criteria to use for selection of performance measures and data collection procedures include all of the following EXCEPT:

All of the following are characteristics of good governance EXCEPT:

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