Question 1

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. 
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 2

A(n) ____ is a computer abuse technique where unauthorized instructions are inserted into a program to systematically steal very small amounts, usually by rounding to the nearest cent in financial transactions.

Accepted Answer

A)  worm 
B)  salami slicing 
C)  logic bomb 
D)  Trojan horse 
A)  worm 
B)  salami slicing 
C)  logic bomb 
D)  Trojan horse

Question 3

A manager of a manufacturing plant alters production reports to provide the corporate office with an inflated perception of the plant's cost effectiveness in an effort to keep the inefficient plant from being closed. This action would be classified as a(n):

Accepted Answer

A)  risk 
B)  hazard 
C)  fraud 
D)  exposure 
A)  risk 
B)  hazard 
C)  fraud 
D)  exposure

Question 4

Strong antifraud controls include:

Accepted Answer

A)  segregation of duties 
B)  job rotations 
C)  mandatory vacations 
D)  all of the above 
A)  segregation of duties 
B)  job rotations 
C)  mandatory vacations 
D)  all of the above

Question 5

Controls that stop problems from occurring are called:

Accepted Answer

A)  preventive controls 
B)  detective controls 
C)  corrective controls 
D)  programmed controls 
A)  preventive controls 
B)  detective controls 
C)  corrective controls 
D)  programmed controls

Question 6

Events that could have a negative impact on organizational objectives:

Accepted Answer

A)  opportunities 
B)  embezzlement 
C)  fraud 
D)  risks 
A)  opportunities 
B)  embezzlement 
C)  fraud 
D)  risks

Question 7

A(n) ______________________________ control plan is designed to discover problems that have occurred.

Accepted Answer

The answer of A(n) ______________________________ control plan is designed to...

Question 8

____ sets the tone of the organization, influencing the control consciousness of its people.

Accepted Answer

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

Question 9

A(n) ______________________________ is a computer abuse technique in which unauthorized code is inserted in a program, which, when activated, could cause a disaster such as shutting down a system or destroying data.

Accepted Answer

The answer of A(n) ______________________________ is a computer abuse technique...

Question 10

External directives are the policies and procedures that help ensure that management directives are carried out.

Accepted Answer

A) True 
 B)False

Question 11

The control matrix is a computer virus that takes control of the computer's operating system for malicious purposes.

Accepted Answer

A) True 
 B)False

Question 12

COSO's ______________________________ are the policies and procedures that help ensure that management directives are carried out.

Accepted Answer

The answer of COSO's ______________________________ are the policies and procedures...

Question 13

The section of Sarbanes Oxley that provides for fines and imprisonment of up to 20 years for individuals who corruptly alter, destroy, mutilate, or conceal documents with the intent to impair the document's integrity or availability for use in an official proceeding, or to otherwise obstruct, influence or impede any official proceeding is ______________________________.

Accepted Answer

Corporate Fraud and

Question 14

A programming error causes the sale of an inventory item to be added to the quantity on hand attribute in the inventory master data. Which control goal was not achieved?

Accepted Answer

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

Question 15

Match between columns
                        Premises: This requires each annual report filed with the SEC to include an internal control report...
States that COSO is a suitable framework for an assessment of internal control...
This was developed to help management identify, assess and manage risk.
This prohibits a CPA firm that audits a public company to engage in certain nonaudit services with the same client...
Provides guidance for conducting an integrated audit of financial statements under Sarbanes-Oxley Act Section 404...
The definition of internal control in this document has been adopted throughout the world.
This addressed four categories of management objectives: strategic, operations, reporting and compliance...
A fundamental aspect of management's stewardship responsibility is to provide shareholders with reasonable assurance that the business is adequately controlled...
Reduces the number of internal controls that need to be documented, evaluated and tested...
This addresses the effect of IT on audits...

Accepted Answer

The Answer of Statement on Auditing Standards No. 94 and is...

Question 16

______________________________ is a deliberate act or untruth intended to obtain unfair or unlawful gain.

Accepted Answer

The answer of ______________________________ is a deliberate act or untruth...

Question 17

The major reasons for exercising control of the organization's business processes include:

Accepted Answer

A)  to provide reasonable assurance that the goals of the business are being achieved 
B)  to mitigate risks of fraud and other intentional and unintentional acts 
C)  to provide reasonable assurance that the company is in compliance with applicable legal and regulatory obligations 
D)  all of the above 
A)  to provide reasonable assurance that the goals of the business are being achieved 
B)  to mitigate risks of fraud and other intentional and unintentional acts 
C)  to provide reasonable assurance that the company is in compliance with applicable legal and regulatory obligations 
D)  all of the above

Question 18

Approvals, authorizations, verifications, reconciliations, reviews of operating performance, security procedures, supervision, audit trails, and segregation of duties are examples of:

Accepted Answer

A)  control activities 
B)  event identification 
C)  monitoring 
D)  risk response 
A)  control activities 
B)  event identification 
C)  monitoring 
D)  risk response

Question 19

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 20

A computer abuse technique called ______________________________ involves a program that replicates itself on disks, in memory, and across networks.

Accepted Answer

The answer of A computer abuse technique called ______________________________ involves...

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

A(n) ____ is a computer abuse technique where unauthorized instructions are inserted into a program to systematically steal very small amounts, usually by rounding to the nearest cent in financial transactions.

A manager of a manufacturing plant alters production reports to provide the corporate office with an inflated perception of the plant's cost effectiveness in an effort to keep the inefficient plant from being closed. This action would be classified as a(n):

Strong antifraud controls include:

Controls that stop problems from occurring are called:

Events that could have a negative impact on organizational objectives:

A(n) ______________________________ control plan is designed to discover problems that have occurred.

____ sets the tone of the organization, influencing the control consciousness of its people.

A(n) ______________________________ is a computer abuse technique in which unauthorized code is inserted in a program, which, when activated, could cause a disaster such as shutting down a system or destroying data.

External directives are the policies and procedures that help ensure that management directives are carried out.

The control matrix is a computer virus that takes control of the computer's operating system for malicious purposes.

COSO's ______________________________ are the policies and procedures that help ensure that management directives are carried out.

A programming error causes the sale of an inventory item to be added to the quantity on hand attribute in the inventory master data. Which control goal was not achieved?

______________________________ is a deliberate act or untruth intended to obtain unfair or unlawful gain.

The major reasons for exercising control of the organization's business processes include:

Approvals, authorizations, verifications, reconciliations, reviews of operating performance, security procedures, supervision, audit trails, and segregation of duties are examples of:

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.

A computer abuse technique called ______________________________ involves a program that replicates itself on disks, in memory, and across networks.

Introduction to Accounting Information Systems

Enterprise Systems

Electronic Business E-Business Systems

Documenting Information Systems

Database Management Systems

Relational Databases and SQL

Controlling Information Systems: Introduction to Pervasive Controls

Controlling Information Systems: Business Process and Application Controls

The Order Entrysales Oes Process

The Billingaccounts Receivablecash Receipts Barcr Process

The Purchasing Process

The Accounts Payablecash Disbursements Apcd Process

The Human Resources Process HR Management and Payroll Processes

Integrated Production Processes IPP

The General Ledger and Business Reporting GLBR Process

Acquiring and Implementing Accounting Information Systems

Filters

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

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

A(n) ____ is a computer abuse technique where unauthorized instructions are inserted into a program to systematically steal very small amounts, usually by rounding to the nearest cent in financial transactions.

A manager of a manufacturing plant alters production reports to provide the corporate office with an inflated perception of the plant's cost effectiveness in an effort to keep the inefficient plant from being closed. This action would be classified as a(n):

Strong antifraud controls include:

Controls that stop problems from occurring are called:

Events that could have a negative impact on organizational objectives:

A(n) ______________________________ control plan is designed to discover problems that have occurred.

____ sets the tone of the organization, influencing the control consciousness of its people.

A(n) ______________________________ is a computer abuse technique in which unauthorized code is inserted in a program, which, when activated, could cause a disaster such as shutting down a system or destroying data.

External directives are the policies and procedures that help ensure that management directives are carried out.

The control matrix is a computer virus that takes control of the computer's operating system for malicious purposes.

COSO's ______________________________ are the policies and procedures that help ensure that management directives are carried out.

A programming error causes the sale of an inventory item to be added to the quantity on hand attribute in the inventory master data. Which control goal was not achieved?

______________________________ is a deliberate act or untruth intended to obtain unfair or unlawful gain.

The major reasons for exercising control of the organization's business processes include:

Approvals, authorizations, verifications, reconciliations, reviews of operating performance, security procedures, supervision, audit trails, and segregation of duties are examples of:

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.

A computer abuse technique called ______________________________ involves a program that replicates itself on disks, in memory, and across networks.

Introduction to Accounting Information Systems

Enterprise Systems

Electronic Business E-Business Systems

Documenting Information Systems

Database Management Systems

Relational Databases and SQL

Controlling Information Systems: Introduction to Pervasive Controls

Controlling Information Systems: Business Process and Application Controls

The Order Entrysales Oes Process

The Billingaccounts Receivablecash Receipts Barcr Process

The Purchasing Process

The Accounts Payablecash Disbursements Apcd Process

The Human Resources Process HR Management and Payroll Processes

Integrated Production Processes IPP

The General Ledger and Business Reporting GLBR Process

Acquiring and Implementing Accounting Information Systems

Filters