Question 1

The internal control category control environment includes identifying, analyzing, and managing risks affecting the ability to report financial data properly.

Accepted Answer

A) True 
 B)False

Question 2

Internal auditors exhibit the highest level of professional ________ in gathering, evaluating, and communicating information about the activity or process being examined.

Accepted Answer

The answer of Internal auditors exhibit the highest level of...

Question 3

In control activities, ________ ensure appropriate information processing, authorization, and data integrity.

Accepted Answer

informatio

Question 4

SOX section 906 requires corporate management to certify reports filed with the SEC.

Accepted Answer

A) True 
 B)False

Question 5

Match the privacy principle to the correct 
-Notice
definition.

Accepted Answer

A) The entity defines, documents, communicates, and assigns accountability for its privacy policies and procedures. 
B) The entity provides information about its privacy policies and procedures and identifies the purposes for which personal information is collected, used, retained, and disclosed. 
C) The entity limits the use of personal information to the purposes identified in the notice and for which the individual has provided implicit or explicit consent. The entity retains personal information only for as long as necessary to fulfill the stated purposes. 
D) The entity maintains accurate, complete, and relevant personal information for the purposes identified in the notice. 
E) The entity shares personal information to third parties only for the purposes identified in the notice and with the implicit or explicit consent of the individual.
F)The entity monitors compliance with its privacy policies and procedures and has procedures to address privacy-related complaints and disputes.
G)The entity provides individuals their personal information for review and update.
H)The entity collects personal information only for the purposes identified in the notice.
I)The entity describes the choices available to the individual and obtains implicit or explicit consent with respect to the collection, use, and disclosure of personal information.
J)The entity protects personal information against unauthorized access (both physical and logical). 
A) The entity defines, documents, communicates, and assigns accountability for its privacy policies and procedures. 
B) The entity provides information about its privacy policies and procedures and identifies the purposes for which personal information is collected, used, retained, and disclosed. 
C) The entity limits the use of personal information to the purposes identified in the notice and for which the individual has provided implicit or explicit consent. The entity retains personal information only for as long as necessary to fulfill the stated purposes. 
D) The entity maintains accurate, complete, and relevant personal information for the purposes identified in the notice. 
E) The entity shares personal information to third parties only for the purposes identified in the notice and with the implicit or explicit consent of the individual.
F)The entity monitors compliance with its privacy policies and procedures and has procedures to address privacy-related complaints and disputes.
G)The entity provides individuals their personal information for review and update.
H)The entity collects personal information only for the purposes identified in the notice.
I)The entity describes the choices available to the individual and obtains implicit or explicit consent with respect to the collection, use, and disclosure of personal information.
J)The entity protects personal information against unauthorized access (both physical and logical).

Question 6

Match the privacy principle to the correct 
-Collection
definition.

Accepted Answer

A) The entity defines, documents, communicates, and assigns accountability for its privacy policies and procedures. 
B) The entity provides information about its privacy policies and procedures and identifies the purposes for which personal information is collected, used, retained, and disclosed. 
C) The entity limits the use of personal information to the purposes identified in the notice and for which the individual has provided implicit or explicit consent. The entity retains personal information only for as long as necessary to fulfill the stated purposes. 
D) The entity maintains accurate, complete, and relevant personal information for the purposes identified in the notice. 
E) The entity shares personal information to third parties only for the purposes identified in the notice and with the implicit or explicit consent of the individual.
F)The entity monitors compliance with its privacy policies and procedures and has procedures to address privacy-related complaints and disputes.
G)The entity provides individuals their personal information for review and update.
H)The entity collects personal information only for the purposes identified in the notice.
I)The entity describes the choices available to the individual and obtains implicit or explicit consent with respect to the collection, use, and disclosure of personal information.
J)The entity protects personal information against unauthorized access (both physical and logical). 
A) The entity defines, documents, communicates, and assigns accountability for its privacy policies and procedures. 
B) The entity provides information about its privacy policies and procedures and identifies the purposes for which personal information is collected, used, retained, and disclosed. 
C) The entity limits the use of personal information to the purposes identified in the notice and for which the individual has provided implicit or explicit consent. The entity retains personal information only for as long as necessary to fulfill the stated purposes. 
D) The entity maintains accurate, complete, and relevant personal information for the purposes identified in the notice. 
E) The entity shares personal information to third parties only for the purposes identified in the notice and with the implicit or explicit consent of the individual.
F)The entity monitors compliance with its privacy policies and procedures and has procedures to address privacy-related complaints and disputes.
G)The entity provides individuals their personal information for review and update.
H)The entity collects personal information only for the purposes identified in the notice.
I)The entity describes the choices available to the individual and obtains implicit or explicit consent with respect to the collection, use, and disclosure of personal information.
J)The entity protects personal information against unauthorized access (both physical and logical).

Question 7

Which general IT control covers acquisition, implementation, and maintenance of system software including the operating system, DBMS, network software, and security software?

Accepted Answer

A) Access security controls 
B) Computer operations controls 
C) Program change controls 
D) Program development controls 
A) Access security controls 
B) Computer operations controls 
C) Program change controls 
D) Program development controls

Question 8

IT general controls have a pervasive effect on all internal controls.

Accepted Answer

A) True 
 B)False

Question 9

________ techniques should be established to uncover fraud events when preventive measures fail or unmitigated risks are realized.

Accepted Answer

The answer of ________ techniques should be established to uncover...

Question 10

________ controls include IT governance at top management levels where strategic business objectives are set and policies are established.

Accepted Answer

The answer of ________ controls include IT governance at top...

Question 11

To attest, the auditor is

Accepted Answer

A) Testifying in court 
B) Expressing an opinion 
C) Testing financial reporting controls 
D) Testing the fairness of the description of controls 
A) Testifying in court 
B) Expressing an opinion 
C) Testing financial reporting controls 
D) Testing the fairness of the description of controls

Question 12

What is the purpose of the Trust Services framework?

Accepted Answer

The purpose of this framework is to prov

Question 13

________ controls support application controls to provide a reliable operating environment.

Accepted Answer

The answer of ________ controls support application controls to provide...

Question 14

Match the internal auditors code of conduct principle with the appropriate definition.
-Competency

Accepted Answer

A) Shall engage only in those services for which they have the necessary knowledge, skills, and experience. 
B) Shall be prudent in the use and protection of information acquired in the course of their duties. 
C) Shall perform their work with honesty, diligence, and responsibility. 
D) Shall not participate in any activity or relationship that may impair or be presumed to impair their unbiased assessment. 
A) Shall engage only in those services for which they have the necessary knowledge, skills, and experience. 
B) Shall be prudent in the use and protection of information acquired in the course of their duties. 
C) Shall perform their work with honesty, diligence, and responsibility. 
D) Shall not participate in any activity or relationship that may impair or be presumed to impair their unbiased assessment.

Question 15

________ includes illegal acts such as bribery, kickbacks, money laundering, and rigging bids.

Accepted Answer

The answer of ________ includes illegal acts such as bribery,...

Question 16

Define the two types of SOC 1 reports.

Accepted Answer

SOC 1 Type 1 Report: The service auditor

Question 17

Application controls ensure completeness and accuracy of transaction processing, authorization, and validity.

Accepted Answer

A) True 
 B)False

Question 18

Fraudulent financial reporting includes misstating financial statements to meet earnings targets.

Accepted Answer

A) True 
 B)False

Question 19

Match the privacy principle to the correct 
-Monitoring and Enforcement
definition.

Accepted Answer

A) The entity defines, documents, communicates, and assigns accountability for its privacy policies and procedures. 
B) The entity provides information about its privacy policies and procedures and identifies the purposes for which personal information is collected, used, retained, and disclosed. 
C) The entity limits the use of personal information to the purposes identified in the notice and for which the individual has provided implicit or explicit consent. The entity retains personal information only for as long as necessary to fulfill the stated purposes. 
D) The entity maintains accurate, complete, and relevant personal information for the purposes identified in the notice. 
E) The entity shares personal information to third parties only for the purposes identified in the notice and with the implicit or explicit consent of the individual.
F)The entity monitors compliance with its privacy policies and procedures and has procedures to address privacy-related complaints and disputes.
G)The entity provides individuals their personal information for review and update.
H)The entity collects personal information only for the purposes identified in the notice.
I)The entity describes the choices available to the individual and obtains implicit or explicit consent with respect to the collection, use, and disclosure of personal information.
J)The entity protects personal information against unauthorized access (both physical and logical). 
A) The entity defines, documents, communicates, and assigns accountability for its privacy policies and procedures. 
B) The entity provides information about its privacy policies and procedures and identifies the purposes for which personal information is collected, used, retained, and disclosed. 
C) The entity limits the use of personal information to the purposes identified in the notice and for which the individual has provided implicit or explicit consent. The entity retains personal information only for as long as necessary to fulfill the stated purposes. 
D) The entity maintains accurate, complete, and relevant personal information for the purposes identified in the notice. 
E) The entity shares personal information to third parties only for the purposes identified in the notice and with the implicit or explicit consent of the individual.
F)The entity monitors compliance with its privacy policies and procedures and has procedures to address privacy-related complaints and disputes.
G)The entity provides individuals their personal information for review and update.
H)The entity collects personal information only for the purposes identified in the notice.
I)The entity describes the choices available to the individual and obtains implicit or explicit consent with respect to the collection, use, and disclosure of personal information.
J)The entity protects personal information against unauthorized access (both physical and logical).

Question 20

Internal control is designed to provide reasonable assurance regarding the achievement of objectives in effectiveness and efficiency of operations, reliability of financial reporting, and compliance with applicable laws and regulations.

Accepted Answer

A) True 
 B)False

The internal control category control environment includes identifying, analyzing, and managing risks affecting the ability to report financial data properly.

Internal auditors exhibit the highest level of professional ________ in gathering, evaluating, and communicating information about the activity or process being examined.

In control activities, ________ ensure appropriate information processing, authorization, and data integrity.

SOX section 906 requires corporate management to certify reports filed with the SEC.

Match the privacy principle to the correct -Notice definition.

Match the privacy principle to the correct -Collection definition.

Which general IT control covers acquisition, implementation, and maintenance of system software including the operating system, DBMS, network software, and security software?

IT general controls have a pervasive effect on all internal controls.

________ techniques should be established to uncover fraud events when preventive measures fail or unmitigated risks are realized.

________ controls include IT governance at top management levels where strategic business objectives are set and policies are established.

To attest, the auditor is

What is the purpose of the Trust Services framework?

________ controls support application controls to provide a reliable operating environment.

Match the internal auditors code of conduct principle with the appropriate definition. -Competency

________ includes illegal acts such as bribery, kickbacks, money laundering, and rigging bids.

Define the two types of SOC 1 reports.

Application controls ensure completeness and accuracy of transaction processing, authorization, and validity.

Fraudulent financial reporting includes misstating financial statements to meet earnings targets.

Match the privacy principle to the correct -Monitoring and Enforcement definition.

Internal control is designed to provide reasonable assurance regarding the achievement of objectives in effectiveness and efficiency of operations, reliability of financial reporting, and compliance with applicable laws and regulations.

Accounting Systems Insights

Accounting Databases

Accounting Interface: Database Forms, Queries, and Reports

Accounting Systems and Business Processes

Business Processes: Purchasing, Sales, and Payroll Cycles

Integrated Enterprise Systems and Cloud Computing

Accounting and Business Intelligence

Accounting and Sustainability Intelligence

XBRL: Intelligent Business Reporting

Cybersecurity

The Risk Intelligent Enterprise: Enterprise Risk Management

Accounting System Development

Database Design: ERD, REA, and SQL

Filters

Exam 10: Fraud and Internal Control

The internal control category control environment includes identifying, analyzing, and managing risks affecting the ability to report financial data properly.

Internal auditors exhibit the highest level of professional ________ in gathering, evaluating, and communicating information about the activity or process being examined.

In control activities, ________ ensure appropriate information processing, authorization, and data integrity.

SOX section 906 requires corporate management to certify reports filed with the SEC.

Match the privacy principle to the correct -Notice definition.

Match the privacy principle to the correct -Collection definition.

Which general IT control covers acquisition, implementation, and maintenance of system software including the operating system, DBMS, network software, and security software?

IT general controls have a pervasive effect on all internal controls.

________ techniques should be established to uncover fraud events when preventive measures fail or unmitigated risks are realized.

________ controls include IT governance at top management levels where strategic business objectives are set and policies are established.

To attest, the auditor is

What is the purpose of the Trust Services framework?

________ controls support application controls to provide a reliable operating environment.

Match the internal auditors code of conduct principle with the appropriate definition. -Competency

________ includes illegal acts such as bribery, kickbacks, money laundering, and rigging bids.

Define the two types of SOC 1 reports.

Application controls ensure completeness and accuracy of transaction processing, authorization, and validity.

Fraudulent financial reporting includes misstating financial statements to meet earnings targets.

Match the privacy principle to the correct -Monitoring and Enforcement definition.

Internal control is designed to provide reasonable assurance regarding the achievement of objectives in effectiveness and efficiency of operations, reliability of financial reporting, and compliance with applicable laws and regulations.

Accounting Systems Insights

Accounting Databases

Accounting Interface: Database Forms, Queries, and Reports

Accounting Systems and Business Processes

Business Processes: Purchasing, Sales, and Payroll Cycles

Integrated Enterprise Systems and Cloud Computing

Accounting and Business Intelligence

Accounting and Sustainability Intelligence

XBRL: Intelligent Business Reporting

Cybersecurity

The Risk Intelligent Enterprise: Enterprise Risk Management

Accounting System Development

Database Design: ERD, REA, and SQL

Filters