Exam 7: Controlling Information Systems: Introduction to Enterprise Risk Management and Internal Control

The control goal called ensure ______________________________ is a measure of the productivity of resources applied to achieve a set of goals.

This component of the ERM framework that encompasses the tone of an organization and sets the basis for how risk is viewed and addressed by an entity's people,including risk management philosophy and risk appetite,integrity and ethical values and the environment in which they operate.

A process,effected by an entity's board of directors,management and other personnel,applied in strategy settings and across the enterprise,designed to identify potential events that may effect the entity,and manage risk to be within its risk appetite,to provide reasonable assurance regarding the achievement of entity objectives is:

As a result of an inadequate design,a production process yields an abnormally high amount of raw material scrapped.Which control goal is being violated?

The section of Sarbanes Oxley that requires each annual report filed with the SEC to include an internal control report is ______________________________.

A manager of a manufacturing plant alters production reports to provide the corporate office with an inflated perception of the plant's cost effectiveness in an effort to keep the inefficient plant from being closed.This action would be classified as a(n):

Under the Sarbanes Oxley Act of 2002,the section on Enhanced Financial Disclosures requires each annual report filed with the SEC to include an internal control report.

Assuring that the accounts receivable master data reflects all cash collections recorded in the cash receipts event data addresses the control goal of:

The section of Sarbanes Oxley that provides for fines and imprisonment of up to 20 years for individuals who corruptly alter,destroy,mutilate,or conceal documents with the intent to impair the document's integrity or availability for use in an official proceeding,or to otherwise obstruct,influence or impede any official proceeding is ______________________________.

The control goal of input accuracy is concerned with the correctness of the transaction data that are entered into a system.

The section of Sarbanes Oxley that requires each annual report filed with the SEC to include an internal control report is:

A computer abuse technique called ______________________________ involves a program that replicates itself on disks,in memory,and across networks.

The major reasons for exercising control of the organization's business processes include:

External directives are the policies and procedures that help ensure that management directives are carried out.

The control goal of ensuring input materiality strives to prevent fictitious items from entering an information system.

Management is responsible for establishing and maintaining an adequate system of internal control.

Establishing a viable internal control system is primarily the responsibility of:

The control goal that is concerned with the correctness of the transaction data that are entered into a system is called ensure ______________________________.

Valid input data are appropriately authorized and represent actual economic events and objects.

Approvals,authorizations,verifications,reconciliations,reviews of operating performance,security procedures,supervision,audit trails,and segregation of duties are examples of: