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Questions which generally address the control environment, risk assessment, control activities or monitoring are:
To improve the quality of financial reporting through a focus on corporate governance, internal controls and ethical standards, is the mission of:
____________ refers the assessment of risks and opportunities affecting the achievement of the organization’s goals and objectives.
Which of the following is NOT the potential benefit of the CSA to the organization?
A process to identify events potentially affecting the entity and manage risk within its risk appetite is known as:
Accurate self-assessment is a realistic evaluation of your strengths and limitations.
The organization has performed analyses of the knowledge, skills, and abilities needed to perform jobs in an appropriate manner in order to:
Enterprise risk management helps an entity to achieve its performance and profitability targets but lower prevents loss of resources.
The process of helping management and/or work teams assess the likelihood of meeting business objectives is called:
A process affected by an entity’s board of directors, management and other personnel designed to provide reasonable assurance regarding the achievement of objectives is called:
The risk remaining after management takes action to reduce the impact and likelihood of an adverse event is called residual risk.
The more extensive and detailed the documentation, the more it is to communicate and understand the optimal solution.
Flowcharting is a common method used to document major processes in order to identify them within the program.
The characteristics or values that will be used to measure outputs, outcomes or service levels from the activities of each operating unit, function, program or activity defines:
The delegation of authority is not well appropriate in relation to the assignment of responsibility.
People who make decisions themselves and issue orders to subordinates without seeking their input and without regard to their feelings are known as:
Comparison of cost of a program or activity to a measurable unit of output or outcome is called cost-residuary impact.
Use of observations and interviews to study how people learn, interact with others or make decisions refers to:
Regression analysis is conducted by developing an estimating equation that describes the relationship between the dependent and independent variable.
Risks are accessed on both an inherent and a residual basis and the assessment considers both risk likelihood impact.
To make sure the performance data is accurate, sufficient and reliable is called:
When internal auditors establishes trust and thus provides the basis for reliance on their judgment, this refers to:
Who identified internal control components including Control environment, Information & communication, risk assessment, control activities and Monitoring?
In traditional approach, final report is issued by management and in control selfassessment approach it is issued by work teams’.
Internal auditors have which following four principles to uphold and apply.
To disclose all material facts known to internal auditors that if not disclosed, may distort the reporting of activities under review, this one of the rules of:
TESTED 23 Nov 2024