Question 1

Not permitting the computer programmer to enter the computer room is an example of _______________________________.

Accepted Answer

segregatio

Question 2

Which of the following situations is not a segregation of duties violation?

Accepted Answer

A) The purchasing department initiates purchases when the purchasing supervisor determines inventory levels are too low. 
B) The warehouse clerk, who has the custodial responsibility over inventory in the warehouse, keeps the official inventory records. 
C) The sales manager has the responsibility to approve credit and the authority to write off accounts. 
D) All of these are segregation of duty violations. 
A) The purchasing department initiates purchases when the purchasing supervisor determines inventory levels are too low. 
B) The warehouse clerk, who has the custodial responsibility over inventory in the warehouse, keeps the official inventory records. 
C) The sales manager has the responsibility to approve credit and the authority to write off accounts. 
D) All of these are segregation of duty violations.

Question 3

Which of the following is an objective of batch controls?

Accepted Answer

A) to ensure that all transactions include transaction codes 
B) to locate any fraudulent data in the batch 
C) to coordinate run-to-run controls with batch controls 
D) to reconcile system output with the data originally input into the system 
A) to ensure that all transactions include transaction codes 
B) to locate any fraudulent data in the batch 
C) to coordinate run-to-run controls with batch controls 
D) to reconcile system output with the data originally input into the system

Question 4

Distinguish between control weaknesses and risk.

Accepted Answer

Control weaknesses increase th

Question 5

Auditor independence under SOX includes categories of services that a public accounting firm cannot perform for a client.List five prohibited functions.

Accepted Answer

Bookkeeping or other services related to

Question 6

Business bankruptcy cases always involve fraudulent behavior.

Accepted Answer

A) True 
 B)False

Question 7

Employee fraud involves three steps.Of the following,which is not involved?

Accepted Answer

A) concealing the crime to avoid detection 
B) stealing something of value 
C) misstating financial statements 
D) converting the asset to a usable form 
A) concealing the crime to avoid detection 
B) stealing something of value 
C) misstating financial statements 
D) converting the asset to a usable form

Question 8

Using cameras to monitor the activities of cashiers is an example of __________________________.

Accepted Answer

The answer of Using cameras to monitor the activities of...

Question 9

Supervision is often called a(n)____________ control.

Accepted Answer

A) access 
B) verification 
C) compensating 
D) input 
A) access 
B) verification 
C) compensating 
D) input

Question 10

Which statement is not correct?

Accepted Answer

A) Only successful transactions are recorded on a transaction log. 
B) Unsuccessful transactions are recorded in an error file. 
C) A transaction log is a temporary file. 
D) The transaction log and transactions in error files should account for all transactions in the batch. 
A) Only successful transactions are recorded on a transaction log. 
B) Unsuccessful transactions are recorded in an error file. 
C) A transaction log is a temporary file. 
D) The transaction log and transactions in error files should account for all transactions in the batch.

Question 11

According to an Association of Certified Fraud Examiners (ACFE)study,most frauds are committed by employees in management positions.

Accepted Answer

A) True 
 B)False

Question 12

The fraud triangle represents a geographic area in Southeast Asia where international fraud is prevalent.

Accepted Answer

A) True 
 B)False

Question 13

Name four input controls and describe what they test.

Accepted Answer

1.Numeric-alphabetic checks look for the

Question 14

The Sarbanes-Oxley Act requires the audit committee to hire and oversee the external auditors.

Accepted Answer

A) True 
 B)False

Question 15

What are the five conditions necessary for an act to be considered fraudulent?

Accepted Answer

false representation

Question 16

What are the key points of the section 404 of the Sarbanes-Oxley Act?

Accepted Answer

Section 404 requires the management of p

Question 17

What are the key points of the "Issuer and Management Disclosure" of the Sarbanes-Oxley Act?

Accepted Answer

1.Public companies must report all off-b

Question 18

All of the following are conditions for fraud except

Accepted Answer

A) false representation 
B) injury or loss 
C) intent 
D) material reliance 
A) false representation 
B) injury or loss 
C) intent 
D) material reliance

Question 19

Which of the following is not a limitation of the internal control system?

Accepted Answer

A) errors are made due to employee fatigue 
B) fraud occurs because of collusion between two employees 
C) the industry is inherently risky 
D) management instructs the bookkeeper to make fraudulent journal entries 
A) errors are made due to employee fatigue 
B) fraud occurs because of collusion between two employees 
C) the industry is inherently risky 
D) management instructs the bookkeeper to make fraudulent journal entries

Question 20

Which of the following is not an example of a processing control?

Accepted Answer

A) a hash total 
B) a record count 
C) a batch total 
D) a check digit 
A) a hash total 
B) a record count 
C) a batch total 
D) a check digit

Not permitting the computer programmer to enter the computer room is an example of _______________________________.

Which of the following situations is not a segregation of duties violation?

Which of the following is an objective of batch controls?

Distinguish between control weaknesses and risk.

Auditor independence under SOX includes categories of services that a public accounting firm cannot perform for a client.List five prohibited functions.

Business bankruptcy cases always involve fraudulent behavior.

Employee fraud involves three steps.Of the following,which is not involved?

Using cameras to monitor the activities of cashiers is an example of __________________________.

Supervision is often called a(n)____________ control.

Which statement is not correct?

According to an Association of Certified Fraud Examiners (ACFE)study,most frauds are committed by employees in management positions.

The fraud triangle represents a geographic area in Southeast Asia where international fraud is prevalent.

Name four input controls and describe what they test.

The Sarbanes-Oxley Act requires the audit committee to hire and oversee the external auditors.

What are the five conditions necessary for an act to be considered fraudulent?

What are the key points of the section 404 of the Sarbanes-Oxley Act?

What are the key points of the "Issuer and Management Disclosure" of the Sarbanes-Oxley Act?

All of the following are conditions for fraud except

Which of the following is not a limitation of the internal control system?

Which of the following is not an example of a processing control?

The Information System: an Accountants Perspective

Introduction to Transaction Processing

The Revenue Cycle

The Expenditure Cycle Part I: Purchases and Cash Disbursements Procedures

The Expenditure Cycle Part II: Payroll Processing and Fixed Asset Procedures

The Conversion Cycle

Financial Reporting,and Management Reporting Systems

Database Management Systems

The Rea Approach to Business Process Modeling

Enterprise Resource Planning Systems

Electronic Commerce Systems

Managing the Systems Development Life Cycle

Auditing It Controls Part I: Sarbanes-Oxley and It Governance

Auditing It Controls Part II: Security and Access

Auditing It Controls Part III: Systems Development, program Changes, and Application Auditing

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Exam 3: Ethics,fraud,and Internal Control

Not permitting the computer programmer to enter the computer room is an example of _______________________________.

Which of the following situations is not a segregation of duties violation?

Which of the following is an objective of batch controls?

Distinguish between control weaknesses and risk.

Auditor independence under SOX includes categories of services that a public accounting firm cannot perform for a client.List five prohibited functions.

Business bankruptcy cases always involve fraudulent behavior.

Employee fraud involves three steps.Of the following,which is not involved?

Using cameras to monitor the activities of cashiers is an example of __________________________.

Supervision is often called a(n)____________ control.

Which statement is not correct?

According to an Association of Certified Fraud Examiners (ACFE)study,most frauds are committed by employees in management positions.

The fraud triangle represents a geographic area in Southeast Asia where international fraud is prevalent.

Name four input controls and describe what they test.

The Sarbanes-Oxley Act requires the audit committee to hire and oversee the external auditors.

What are the five conditions necessary for an act to be considered fraudulent?

What are the key points of the section 404 of the Sarbanes-Oxley Act?

What are the key points of the "Issuer and Management Disclosure" of the Sarbanes-Oxley Act?

All of the following are conditions for fraud except

Which of the following is not a limitation of the internal control system?

Which of the following is not an example of a processing control?

The Information System: an Accountants Perspective

Introduction to Transaction Processing

The Revenue Cycle

The Expenditure Cycle Part I: Purchases and Cash Disbursements Procedures

The Expenditure Cycle Part II: Payroll Processing and Fixed Asset Procedures

The Conversion Cycle

Financial Reporting,and Management Reporting Systems

Database Management Systems

The Rea Approach to Business Process Modeling

Enterprise Resource Planning Systems

Electronic Commerce Systems

Managing the Systems Development Life Cycle

Auditing It Controls Part I: Sarbanes-Oxley and It Governance

Auditing It Controls Part II: Security and Access

Auditing It Controls Part III: Systems Development, program Changes, and Application Auditing

Filters