Question 1

The control goal called efficiency of operations strives to assure that a given operations system is fulfilling the purpose(s) for which it was intended.

Accepted Answer

A) True 
 B)False

Question 2

A computer abuse technique called a ____ involves inserting unauthorized code in a program, which, when activated, may cause a disaster, such as shutting the system down or destroying files.

Accepted Answer

A)  salami slicing 
B)  back door 
C)  logic bomb 
D)  Trojan horse

Question 3

With the issuance of the SEC Interpretative Guidance and the implementation of AS5:

Accepted Answer

A)  Auditors no longer opine on the effectiveness of management's internal control reporting process. 
B)  The number of controls that need to be documented, evaluated, and tested is reduced. 
C)  Both a. and b. 
D)  Neither a. nor b.

Question 4

SAS No. 99 emphasizes auditors should brainstorm fraud risks, increase professional skepticism, use unpredictable audit test patterns, and detect management override of internal controls.

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

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

Question 6

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

Accepted Answer

A)  compliance 
B)  operations 
C)  reporting 
D)  strategic

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

A computer abuse technique called a back door involves a programmer's inserting special code or passwords in a computer program that will allow the programmer to bypass the security features of the program.

Accepted Answer

A) True 
 B)False

Question 9

______________________________ are events that would have a positive impact on objectives.

Accepted Answer

The answer of ______________________________ are events that would have a...

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

Events that could have a positive impact on organizational objectives:

Accepted Answer

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

Question 12

Discrepancies between data items recorded by a system and the underlying economic events or objects they represent are a violation of the control goal of:

Accepted Answer

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

Question 13

______________________________ are applied to all IT service activities.

Accepted Answer

The answer of ______________________________ are applied to all IT service...

Question 14

Ensuring the security of resources is the control goal that seeks to provide protection of organization's resources from loss, destruction, disclosure, copying, sale, or other misuse of an organization's resources.

Accepted Answer

A) True 
 B)False

Question 15

Under the Sarbanes Oxley Act of 2002, the section on Enhanced Financial Disclosures requires each annual report filed with the SEC to include an internal control report.

Accepted Answer

A) True 
 B)False

Question 16

Why is there usually no control goal called update validity?

Accepted Answer

A)  Input and update completeness achieve update validity. 
B)  Input validity guarantees update validity. 
C)  Update accuracy guarantees update validity. 
D)  Input accuracy achieves update validity.

Question 17

COSO's ______________________________ is a process that assesses the quality of internal control performance over time.

Accepted Answer

The answer of COSO's ______________________________ is a process that assesses...

Question 18

The ERM framework is comprised of eight components. Which component includes the policies and procedures established and implemented to help ensure the risk responses are effectively carried out?

Accepted Answer

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

Question 19

______________________________ are business process objectives that an internal control system is designed to achieve.

Accepted Answer

The answer of ______________________________ are business process objectives that an...

Question 20

A control that involves reprocessing transactions that are rejected during initial processing is an example of:

Accepted Answer

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

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

The control goal called efficiency of operations strives to assure that a given operations system is fulfilling the purpose(s) for which it was intended.

A computer abuse technique called a ____ involves inserting unauthorized code in a program, which, when activated, may cause a disaster, such as shutting the system down or destroying files.

With the issuance of the SEC Interpretative Guidance and the implementation of AS5:

SAS No. 99 emphasizes auditors should brainstorm fraud risks, increase professional skepticism, use unpredictable audit test patterns, and detect management override of internal controls.

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

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

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

A computer abuse technique called a back door involves a programmer's inserting special code or passwords in a computer program that will allow the programmer to bypass the security features of the program.

______________________________ are events that would have a positive impact on objectives.

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

Events that could have a positive impact on organizational objectives:

Discrepancies between data items recorded by a system and the underlying economic events or objects they represent are a violation of the control goal of:

______________________________ are applied to all IT service activities.

Ensuring the security of resources is the control goal that seeks to provide protection of organization's resources from loss, destruction, disclosure, copying, sale, or other misuse of an organization's resources.

Under the Sarbanes Oxley Act of 2002, the section on Enhanced Financial Disclosures requires each annual report filed with the SEC to include an internal control report.

Why is there usually no control goal called update validity?

COSO's ______________________________ is a process that assesses the quality of internal control performance over time.

The ERM framework is comprised of eight components. Which component includes the policies and procedures established and implemented to help ensure the risk responses are effectively carried out?

______________________________ are business process objectives that an internal control system is designed to achieve.

A control that involves reprocessing transactions that are rejected during initial processing is an example of: