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

Which of the following is a control goal regarding master data?

The section of Sarbanes Oxley that establishes an independent board to oversee public company audits is ______________________________.

The section of Sarbanes Oxley that requires each annual report filed with the SEC to include an internal control report is:

Regarding internal control systems:

A process, effected by an entity's board of directors, management and other personnel, applied in strategy settings and across the enterprise, designed to identify potential events that may effect the entity, and manage risk to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives is:

______________________________ is a process, effected by an entity's board of directors, management and other personnel, applied in strategy settings and across the enterprise, designed to identify potential events that may affect the entity, and manage risk to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives.

A process by which organizations select objectives, establish processes to achieve objectives, and monitor performance is:

The control goal of ensure ______________________________ requires that all valid objects or events are captured and entered into the computer once and only once.

A computer crime technique called ______________________________ involves the systematic theft of very small amounts usually by rounding to the nearest cent in financial transactions such as the calculation of interest on savings accounts.

Valid input data are appropriately authorized and represent actual economic events and objects.

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

PCAOB Auditing Standard No. 5 uses ______________________________ in its description of the conduct of an integrated audit under SOX 404.

Information-processing policies and procedures that assist in accomplishing control goals are known as ______________________________.

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

Which of the following statements regarding a system of internal control is false?

The ______________________________ framework suggests that organizations and auditors should continue to use COSO as a basis for internal control.

Management's legal responsibility to prevent fraud and other irregularities is implied by laws such as the Foreign Corrupt Practices Act.

As a result of an inadequate design, a production process yields an abnormally high amount of raw material scrapped. Which control goal is being violated?

The control goal of ensure ______________________________ strives to prevent fictitious items from entering an information system.

The external environment is a system of integrated elements-people, structures, processes, and procedures-acting together to provide reasonable assurance that an organization achieves both its operations system and its information system goals.