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CIA exam.
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Exam of 26 pages for the course PSYC210 Exam 02 Review at PSYC210 Exam 02 Review (CIA exam.)
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CIA exama company hired a highly qualified accounts payable manager who had been terminated
from another company for alleged wrongdoing. six months later, the manager diverted
12k by sending duplicate payments of invoices to relative. control that might have
prevented this situation would be to:
a)adequately check prior employment backgrounds for all new employees
b)not hire individuals who appear overqualified for a job
c)verify educational background for all new employees
d)check to see if close relatives work for payable vendors - ANS-a)adequately check
prior employment backgrounds for all new employees
a comprehensive mgmt control system that considers both financial and nonfinancial
measures relating to a company's critical success factors is called an:
a)balanced scorecard system
b)economic value-added system
c)activity-based costing system
d)market value-added system - ANS-a)balanced scorecard system
a corporation must be managed on which of the following principles?
a)corporate governance
b)corporate control
c)corporate law
d)corporate ethics - ANS-a)corporate governance
a person's competency can be derived from which of the following?
a)knowledge skills and abilities
b)more theory and less practice
c)education and experience
d)less theory and more practice - ANS-c)education and experience
a search warrant is required in a computer-related crime
a)before the allegation has been substantiated
b)after establishing the probable causes
c)before identifying the number of investigators needed
d)after seizing the computer and related equipment - ANS-b)after establishing the
probable causes
,abusive acts can be:
a)legal but unethical
b)ethical but illegal
c)legal and ethical
d)illegal and unethical - ANS-a)legal but unethical
according to IIA standards, which of the following best describes the two general
categories or types of fraud that concern most internal auditors?
a)improper payments and tax fraud
b)fraud designed to benefit the org and fraud perpetrated to the detriment of the org
c)acceptance of bribes or kickbacks and improper related-party transactions
d)acceptance of kickbacks or embezzlement and misappropriation of assets -
ANS-b)fraud designed to benefit the org and fraud perpetrated to the detriment of the
org
according to IIAS1130, which of the following isn't a part of functional reporting to the
board?
a)audit charter
b)audit risk assessment
c)audit budgets
d)audit plan - ANS-c)budgets
CAE reports functionally to the board and administratively to the CEO
budget isn't function/is admin
all of the following are examples of assurance services except:
a) financial
b) compliance
c) due diligence
d) training - ANS-d) training
assurance: financial, performance, compliance, system security, and due diligence
consulting: counsel, advice, facilitation and training
all of the following are examples of consulting services except:
a)legal counsel engagement
b)system security engagement
c)advice engagement
d)facilitation engagment - ANS-b)system security engagement
assurance: financial, performance, compliance, system security, and due diligence
consulting: counsel, advice, facilitation and training
, all of the following provide effective relationships in the organization's governance
framework except:
a)org processes
b)governance
c)risk management
d)internal controls - ANS-a)org processes
all of the following stakeholders receive results of internal/external quality program
assessments of internal audit's activity from the cae except:
a)functional manager
b)senior manager
c)bod
d)external auditor - ANS-a)functional manager
don't need to know results because there are too many functional managers to
distribute material to and because the scope of the quality program affects the entire
organization.
As part of a total quality control program, a firm not only inspects finished goods but
also monitors product returns and customer complaints. Which type of control best
describes these efforts?
A. Production control.
B. Inventory control.
C. Feedback control.
D. Feedforward control. - ANS-C. Feedback control (ensures that past mistakes aren't
repeated)
as used by the internal auditing profession, iia standards refer to all of the following
except:
a) criteria by which the operations of an internal audit dept are evaluated and measured
b) criteria that dictate the minimum level of ethical actions to be taken by internal
auditors
c) statements intended to represent practice of internal auditing as it should be
d) criteria that are applicable to all types of internal audit dept. - ANS-b) criteria that
dictate the minimum level of ethical actions to be taken by internal auditors
standards don't do that. code of ethics does that
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