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

The section of Sarbanes Oxley that requires financial analysts to properly disclose in research reports any conflicts of interest they might hold with the companies they recommend is _____________________________________________.

Under the Sarbanes Oxley Act of 2002, the section on Auditor Independence establishes an independent board to oversee public company audits.

___________________________________ are automated business process controls contained within IT application systems.

Who is legally responsible for establishing and maintaining an adequate system of internal control?

Controls that stop problems from occurring are called:

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.

A business event which is not properly authorized is an example of:

A process, effected by an entity's board of directors, management and other personnel, applied in strategy setting 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.

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

Why is there usually no control goal called update validity?

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

The control goal that is concerned with the correctness of the transaction data that are entered into a system is called ensure _________________________.

A computer crime technique called worm involves the systematic theft of very small amounts from a number of bank or other financial accounts.

The ERM framework addresses four categories of management objectives.Which category concerns high-level goals, aligned with and supporting its mission?

Opportunities are events that could have a positive impact on organization objectives.

The programmed verification of a customer number is a ____ control.

The section of Sarbanes Oxley that requires financial analysts to properly disclose in research reports any conflicts of interest they might hold with the companies they recommend.:

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

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

A control plan requires that a manager sign his/her approval of timecards for employees in that department.This control plan is an example of a ________________________________________.