Exam 15: IT Controls Part I: Sarbanes-Oxley and It Governance

Both the SEC and the PCAOB have expressed an opinion as which internal control framework an organization should use to comply with SOX legislation. Explain.

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Question 1

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Both the SEC and PCAOB endorse the SAS 7/COSO framework but any framework can be used that encompasses all of the SAS 78/COSO's general themes

What are the objectives of application controls?

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Question 2

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The objectives of application controls are to ensure the validity, completeness, and accuracy financial transactions.

The Sarbanes-Oxley Act contains many sections. Which sections are the focus of this chapter?

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Question 3

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The chapter concentrates on internal control and audit responsibilities pursuant to Sections 302 and 404.

All of the following tests of controls will provide evidence about the physical security of the computer center except

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Question 4

Typically, internal auditors perform all of the following tasks except

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Question 5

What control framework is recommended by the PCAOB?

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Question 6

A strong internal control system will reduce the amount of substantive testing that must be performed.

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Question 7

Corporate management (including the CEO) must certify monthly and annually their organization's internal controls over financial reporting.

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Question 8

Briefly explain the core competency theory.

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Question 9

What are the components of audit risk?

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Question 10

are intentional mistakes while are unintentional mistakes.

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Question 11

Substantive testing techniques provide information about the accuracy and completeness of an application's processes.

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Question 12

A cold site backup approach is also known as

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Question 13

Why should new systems development activities be segregated from the program change (maintenance) function?

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Question 14

When planning the audit, information is gathered by all of the following methods except

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Question 15

External auditing is an independent appraisal function established within an organization to examine and evaluate its activities as a service to the organization.

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Question 16

An IT auditor expresses an opinion on the fairness of the financial statements.

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Question 17

Contrast internal and external auditing.

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Question 18

Explain why certain duties that are deemed incompatible in a manual system may be combined in an automated environment? Give an example.

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Question 19

Explain how general controls impact transaction integrity and the financial reporting process.

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Question 20

Showing 1 - 20 of 129

Both the SEC and the PCAOB have expressed an opinion as which internal control framework an organization should use to comply with SOX legislation. Explain.

What are the objectives of application controls?

The Sarbanes-Oxley Act contains many sections. Which sections are the focus of this chapter?

All of the following tests of controls will provide evidence about the physical security of the computer center except

Typically, internal auditors perform all of the following tasks except

What control framework is recommended by the PCAOB?

A strong internal control system will reduce the amount of substantive testing that must be performed.

Corporate management (including the CEO) must certify monthly and annually their organization's internal controls over financial reporting.

Briefly explain the core competency theory.

What are the components of audit risk?

are intentional mistakes while are unintentional mistakes.

Substantive testing techniques provide information about the accuracy and completeness of an application's processes.

A cold site backup approach is also known as

Why should new systems development activities be segregated from the program change (maintenance) function?

When planning the audit, information is gathered by all of the following methods except

External auditing is an independent appraisal function established within an organization to examine and evaluate its activities as a service to the organization.

An IT auditor expresses an opinion on the fairness of the financial statements.

Contrast internal and external auditing.

Explain why certain duties that are deemed incompatible in a manual system may be combined in an automated environment? Give an example.

Explain how general controls impact transaction integrity and the financial reporting process.

The Information System: an Accountants Perspective

Introduction to Transaction Processing

Ethics, Fraud, and Internal Control

The Revenue Cycle

The Expenditure Cycle Part I: Purchases and Cash Disbursements Procedures

The Expenditure Cycle Part II: Payroll Processing and Fixed Asset Procedures

The Conversion Cycle

Financial Reporting, and Management Reporting Systems

Database Management Systems

The Rea Approach to Business Process Modeling

Enterprise Resource Planning Systems

Electronic Commerce Systems

Managing the Systems Development Life Cycle

Construct, Deliver, and Maintain Systems Projects

IT Controls Part II: Security and Access

IT Controls Part III: Systems Development, Program Changes, and Application Controls

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Exam 15: IT Controls Part I: Sarbanes-Oxley and It Governance

Both the SEC and the PCAOB have expressed an opinion as which internal control framework an organization should use to comply with SOX legislation. Explain.

What are the objectives of application controls?

The Sarbanes-Oxley Act contains many sections. Which sections are the focus of this chapter?

All of the following tests of controls will provide evidence about the physical security of the computer center except

Typically, internal auditors perform all of the following tasks except

What control framework is recommended by the PCAOB?

A strong internal control system will reduce the amount of substantive testing that must be performed.

Corporate management (including the CEO) must certify monthly and annually their organization's internal controls over financial reporting.

Briefly explain the core competency theory.

What are the components of audit risk?

__________________________ are intentional mistakes while __________________________ are unintentional mistakes.

Substantive testing techniques provide information about the accuracy and completeness of an application's processes.

A cold site backup approach is also known as

Why should new systems development activities be segregated from the program change (maintenance) function?

When planning the audit, information is gathered by all of the following methods except

External auditing is an independent appraisal function established within an organization to examine and evaluate its activities as a service to the organization.

An IT auditor expresses an opinion on the fairness of the financial statements.

Contrast internal and external auditing.

Explain why certain duties that are deemed incompatible in a manual system may be combined in an automated environment? Give an example.

Explain how general controls impact transaction integrity and the financial reporting process.

The Information System: an Accountants Perspective

Introduction to Transaction Processing

Ethics, Fraud, and Internal Control

The Revenue Cycle

The Expenditure Cycle Part I: Purchases and Cash Disbursements Procedures

The Expenditure Cycle Part II: Payroll Processing and Fixed Asset Procedures

The Conversion Cycle

Financial Reporting, and Management Reporting Systems

Database Management Systems

The Rea Approach to Business Process Modeling

Enterprise Resource Planning Systems

Electronic Commerce Systems

Managing the Systems Development Life Cycle

Construct, Deliver, and Maintain Systems Projects

IT Controls Part II: Security and Access

IT Controls Part III: Systems Development, Program Changes, and Application Controls

Filters

are intentional mistakes while are unintentional mistakes.