COSO

Question 0

The process of identifying analyzing and managing the risks is

Answer 0

Risk assessment

Question 1

The internal control that enables people to identify process and exchange info is

Answer 1

Information and communication

Question 2

The policies and procedures that ensure that actions are taken to address the risks

Answer 2

Control activities

Question 3

A control objective is

Answer 3

Compliance
Operations
Reporting

Question 4

Compliance objectives concern laws and regulations

Answer 4

Compliance objective

Question 5

The control environment is the

Answer 5

Core or foundation of any system of internal control

Question 6

Organizational objectives risk assessment fraud and charge management relates to

Answer 6

Risk assessment

Question 7

Establishing ongoing and periodic evaluations and assessing control deficiencies

Answer 7

Monitoring

Question 8

Whistle blower hot line contributes to

Answer 8

Both internal and external organizational communications.

Question 9

Establishing integrity and ethical values

Answer 9

Control environment

Question 10

Risk reduction technology controls and policies

Answer 10

Control activities

Question 11

Monitoring is one of the eight components of

Answer 11

Enterprise risk management framework

Question 12

Strategic operations reporting and compliance objectives are part of the

Answer 12

Coso erm model

Question 13

Risk response includes management decision to

Answer 13

Avoid accept reduce or share risk to develop a set of actions to align risks

Question 14

The coso erm model has how many control components

Answer 14

8

Question 15

A control that accomplishes the same objective as another control

Answer 15

Compensating

Question 16

A condition where a internal control requires attention

Answer 16

Control deficiency

Question 17

Targets against which effectiveness of internal control are evaluated

Answer 17

Control objective

Question 18

Metrics that reflect critical success factors

Answer 18

Key performance indicator

Question 19

Primary attributes of effective evaluators is

Answer 19

Competence and objectivity

Question 20

System of internal control begins with

Answer 20

Setting organizational objectives

Question 21

Increasing the reliability of financial reporting and compliance with laws and regulations is not an approach to monitor

Answer 21

Internal control

Question 22

Establishing a baseline of internal control known to be effective is a

Answer 22

Sub activity of establishing a foundation for monitoring

Question 23

Ongoing and separate evaluations to identify and address changes in internal control effectiveness is

Answer 23

Change identification

Question 24

The four primary themes of attribute standards are

Answer 24

Purpose authority and responsibility Independence and objectivity Proficiency and due professional care Quality assurance and improvement program

Question 25

Periodic external assessments must occur every

Answer 25

5 years

Question 26

The quality assurance and improvement program must include

Answer 26

Internal and external assessments

Question 27

The person responsible for managing an organizations internal audit activity by the IIA is a

Answer 27

Chief executive audit

Question 28

Purpose authority and responsibility is an

Answer 28

Attribute standard

Question 29

The seven primary performance standards are

Answer 29

``` Managing the internal audit activity Nature of work Engagement planning Performing the engagement Communicating results Monitoring progress Resolution of senior managements acceptance of risks ```

Question 30

Internal audits activity to focus on planning the engagement objectives scope timing and resources

Answer 30

Engagement planning

Question 31

Engagement team focus on governance risk management and control processes associated with internal audit is

Answer 31

Nature of work

Question 32

The internal auditors responsibilities for obtaining adequate basis of conclusions

Answer 32

Performing the engagement

Question 33

Chief audit executive responsibilities for overseeing the internal audit

Answer 33

Managing the internal audit activity

Question 34

Implementation standards distinguish requirements between

Answer 34

Assurance and consulting services

Question 35

Attribute standards address characteristics of organizations

Answer 35

And individuals who perform internal audit services

Question 36

Clarifying the concepts within the attribute and performance standards is

Answer 36

Interpretations of international standards

Question 37

Measure the quality of the internal auditors conduct on delivering internal audit services

Answer 37

Performance standards

Question 38

Mandatory guidance of IIA international Professional practices framework

Answer 38

Definition of internal auditing Code of ethics International standards

Question 39

Strongly recommended guidance of international professional practice framework includes

Answer 39

Position papers Practice advisors Practice guides

Question 40

argues decision makers weight losses more heavily then do gains

Answer 40

Prospect theory

Question 41

Reduce the risk of incorrect processing in a newly installed computerized accounting system

Answer 41

Independently verify the transactions

Question 42

Calculates and integrates the liking of losses with the amount of losses

Answer 42

Expected value

Question 43

The limitation of enterprise risk managements (erm)

Answer 43

Can provide absolute assurance with respect to objective categories

Question 44

Recognizing potential impediments to communication between system user and system designer is

Answer 44

Managing change in the system internal control

Question 45

Mandatory guidance of IIA international professional practices

Answer 45

Definition of internal auditing Code of ethics International standards

Question 46

Strongly recommended guidance is

Answer 46

Position papers Practice advisories Practice guides

Question 47

The guidance between the requirements for assurance and consulting is

Answer 47

Implementation standards

Question 48

The internal control concerns testing the system and it's data

Answer 48

Monitoring

Question 49

In the COSO cube model whets not a control objective

Answer 49

Monitoring is not a control objective

Question 50

Compliance objectives concern laws and

Answer 50

Regulations

Question 51

Sod stands for

Answer 51

Segregation of duties

Question 52

The IIA definition of internal auditing standards does not mention

Answer 52

Cost of capital