Question 1

A(n)______________________________ is program code that can attach itself to other programs or macros thereby infecting those programs and macros.

Accepted Answer

The answer of A(n)______________________________ is program code that can attach...

Question 2

The ______________________________ states that "a fundamental aspect of management's stewardship responsibility is to provide shareholders with reasonable assurance that the business is adequately controlled."

Accepted Answer

The answer of The ______________________________ states that "a fundamental aspect...

Question 3

A computer abuse technique called a ____ involves a virus that replicates itself on disks,in memory,or across networks.

Accepted Answer

A)  worm 
B)  back door 
C)  logic bomb 
D)  Trojan horse

Question 4

According to the 2012 Report to the Nation on Occupational Fraud and Abuse,frauds are more likely to be detected by audits or internal controls than through tips.

Accepted Answer

A) True 
 B)False

Question 5

SAS No.99 emphasizes auditors should brainstorm fraud risks,increase professional skepticism,use unpredictable audit test patterns,and detect management override of internal controls.

Accepted Answer

A) True 
 B)False

Question 6

____ are the policies and procedures that help ensure that the risk responses are effectively carried out.

Accepted Answer

A)  Control environment 
B)  Risk assessment 
C)  Control activities 
D)  Monitoring

Question 7

Listed below are 13 specific fraud examples taken from some well-known fraud cases: MiniScribe,ZZZZ Best Carpet Cleaning,Lesley Fay,and Equity Funding.
Required:
For each fraud example,enter a letter corresponding to which information control goal was initially violated-Validity,Completeness,or Accuracy.Some examples might involve more than one violation.
NOTE: When we say initially,we mean what control goal failure led to this example,not what is the present condition.For example,master data might contain information that is inaccurate,but it might have been an inaccurate input that initially caused the data to be inaccurate.

Accepted Answer

The answer of Listed below are 13 specific fraud examples...

Question 8

Management selects risk ________________________- avoiding,accepting,reducing or sharing risk - developing a set of actions to align risks with the entity's risk tolerances and risk appetite.

Accepted Answer

The answer of Management selects risk ________________________- avoiding,accepting,reducing or sharing...

Question 9

The control goal that seeks to protect an organization's resources from loss,destruction,disclosure,copying,sale,or other misuse of an organization's resources is called ensure ______________________________.

Accepted Answer

The answer of The control goal that seeks to protect...

Question 10

The ERM framework addresses four categories of management objectives.Which category of concerns laws and regulations?

Accepted Answer

A)  compliance 
B)  operations 
C)  reporting 
D)  strategic

Question 11

Achieving which control goal requires that all valid objects or events are captured and entered into a system's database once and only once?

Accepted Answer

A)  ensure input validity 
B)  ensure update accuracy 
C)  ensure input completeness 
D)  ensure update completeness

Question 12

Control goals of operations processes include:

Accepted Answer

A)  validity 
B)  the control environment 
C)  accuracy 
D)  security of resources

Question 13

Monitoring is a process that assesses the quality of internal control performance over time.

Accepted Answer

A) True 
 B)False

Question 14

As described in COSO,elements of a control environment might include the following:

Accepted Answer

A)  commitment to the importance of control 
B)  reward systems 
C)  tone at the top of the organization 
D)  all of the above

Question 15

The section of Sarbanes Oxley that requires a company's CEO and CFO to certify quarterly and annual reports is ______________________________.

Accepted Answer

The answer of The section of Sarbanes Oxley that requires...

Question 16

The control goal of ensure ______________________________ provides assurance that all valid objects or events which were entered into the computer are in turn reflected in their respective master data once and only once.

Accepted Answer

The answer of The control goal of ensure ______________________________ provides...

Question 17

Under the Sarbanes Oxley Act of 2002,the section on Corporate Tax Returns conveys a sense of the Senate that the corporate federal income tax returns be signed by the treasurer.

Accepted Answer

A) True 
 B)False

Question 18

According to the 2011 PricewaterhouseCoopers (PwC)Global Economic Crime Survey:

Accepted Answer

A)  Internal audit is the most effective fraud detection method. 
B)  Cybercrime ranks as one of the top four economic crimes worldwide. 
C)  Accounting fraud has increased significantly over the last two years. 
D)  All of the above.

Question 19

Expected gross risk is a function of the initial expected gross risk,reduced risk exposure due to controls,and cost of controls.

Accepted Answer

A) True 
 B)False

Question 20

A(n)______________________________ relates to a specific AIS process,such as billing or cash receipts.

Accepted Answer

The answer of A(n)______________________________ relates to a specific AIS process,such...

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

A(n)______________________________ is program code that can attach itself to other programs or macros thereby infecting those programs and macros.

The ______________________________ states that "a fundamental aspect of management's stewardship responsibility is to provide shareholders with reasonable assurance that the business is adequately controlled."

A computer abuse technique called a ____ involves a virus that replicates itself on disks,in memory,or across networks.

According to the 2012 Report to the Nation on Occupational Fraud and Abuse,frauds are more likely to be detected by audits or internal controls than through tips.

SAS No.99 emphasizes auditors should brainstorm fraud risks,increase professional skepticism,use unpredictable audit test patterns,and detect management override of internal controls.

____ are the policies and procedures that help ensure that the risk responses are effectively carried out.

Management selects risk ________________________- avoiding,accepting,reducing or sharing risk - developing a set of actions to align risks with the entity's risk tolerances and risk appetite.

The control goal that seeks to protect an organization's resources from loss,destruction,disclosure,copying,sale,or other misuse of an organization's resources is called ensure ______________________________.

The ERM framework addresses four categories of management objectives.Which category of concerns laws and regulations?

Achieving which control goal requires that all valid objects or events are captured and entered into a system's database once and only once?

Control goals of operations processes include:

Monitoring is a process that assesses the quality of internal control performance over time.

As described in COSO,elements of a control environment might include the following:

The section of Sarbanes Oxley that requires a company's CEO and CFO to certify quarterly and annual reports is ______________________________.

The control goal of ensure ______________________________ provides assurance that all valid objects or events which were entered into the computer are in turn reflected in their respective master data once and only once.

Under the Sarbanes Oxley Act of 2002,the section on Corporate Tax Returns conveys a sense of the Senate that the corporate federal income tax returns be signed by the treasurer.

According to the 2011 PricewaterhouseCoopers (PwC) Global Economic Crime Survey:

Expected gross risk is a function of the initial expected gross risk,reduced risk exposure due to controls,and cost of controls.

A(n)______________________________ relates to a specific AIS process,such as billing or cash receipts.