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The financial section contains summarized and detailed financial information and is organized in a financial reporting pyramid format. Components of the financial section include all of the following given below EXCEPT:
A code of ethics is necessary and appropriate for the profession of internal auditing, founded as it is on the trust placed in its objective assurance about risk management, control, and governance. The IIA’s Code of Ethics extends beyond the definition of internal auditing to include the following essential Components please chooses the correct option:
A _______creates an additional layer of bureaucracy and potentially creates a new base of political power that can impede progress. Where as ________can become extremely powerful as they can impact the speed and delivery of government services with requirements and enforcement actions:
Permanent Fund is the Endowment-like arrangements available to support the operations or programs of the government (e.g., cemetery perpetual care funds).where as ________are used when a government wants to recoup all or a portion of the cost of providing a service (i.e., utility charges, mass transit fees).
________includes objectives related to an organization’s goals, such as customer service, the safeguarding and efficient use of resources, profitability, and meeting social obligations. Where as __________includes objectives related to matters such as the maintenance of proper accounting records, the reliability of information used within the organization, and of information published for third parties.
The development and issuance of the Standards is an ongoing process. Which board engages in extensive consultation and discussion prior to the issuance of the Standards?
A three-step general methodology to use in assessing computer related controls consist of all of the following please choose the correct option:
Both_______ and _______ stress the concept of self-assessment and responsibility of management in maintaining and monitoring the internal control environment. The primary goals of maintaining the effectiveness and efficiency of operations, ensuring the reliability of financial reporting and complying with applicable laws and regulations, are the same for both:
The risk analysis process involves all of the following given below EXCEPT:
A budget is a financial plan that serves as a guide to control and oversee future activities. The budgeting cycle incorporates al of the following components EXCEPT:
All of the following are the Aspects of control activities that would help an auditor assess vulnerability EXCEPT:
________ is usually applied to testing systems of internal control and is concerned with estimating the number of errors in the population. This sampling calls for an answer on a two way scale (e.g., Yes or No, Right or Wrong). Where as _______ can be used for values such as dollar values, time periods, or weights. Estimates are based on a sample of items such as the value of inventories, the value of disallowances of travel vouchers, or the value of accounts receivable.
_______is the risk that can be controlled by various preventative measures such as adding personnel to a function, installing burglar alarms, increasing the frequency and level of management review, or implementing tighter standards. Where as _______ is the Risk that can be transferred by purchasing insurance policies to cover losses of several types such as cash, property, or facilities.
The audit function within government provides all of the following benefits EXCEPT:
The following is a list of background items auditors should review to determine their impact on audit objectives please choose the correct option:
All of the following are the examples of Activities (and activity drivers) EXCEPT:
Some specific problems that can occur with secondary data and suggested methods to correct those problems include all of the following EXCEPT:
There are two major categories of questions interviewers can ask. _______ require the subject to give a detailed reply. ________ usually call for Yes/No replies or suggest a possible answer.
All of The following are the guidelines that apply to the construction of a frequency distribution EXCEPT:
COSO was a private-sector initiative started in the 1980s to address the problem of fraudulent financial reporting. Problems continued to persist in the 1980s and the private sector was wary of additional government intervention, so all of the following five organizations banded together to form COSO please choose the correct option:
____________ is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
Which of the following are the two broad classifications of management styles please mark the correct option:
________is a concept relating to the accumulation of the audit evidence necessary for the auditor to conclude that there are no material misstatements in the financial statements taken as a whole. While the ________ is responsible for forming and expressing an opinion on the financial statements, the responsibility for preparing and presenting the financial statements is that of the management of the entity.
_________is defined as the ongoing monitoring and reporting of program accomplishments, particularly progress toward established goals.
___________covers the delivery of required services such as staff training. The necessary support processes required to deliver services under this domain include the actual processing of data by application systems, often classified under application controls. Where as _________ covers all IT processes need to be assessed regularly to monitor their quality and compliance with control requirements.
Integrity violations can have an effect on an organization’s performance and reports of performance, as well as on the financial statements. Specific categories of integrity violations include all of the following given below please choose the correct option:
_______ quantify the amount of resources used or planned for a specific service or program. Where as ________report quantities of products or services delivered by a program or agency.
All of the following are the examples of Resources (and resource drivers) EXCEPT:
The AICPA professional standards identify all of the following internal control components EXCEPT:
Audit reports should state the audit objectives, scope, and methodology. If appropriate, the report should describe any performance aspects examined (e.g., outputs, outcomes). The audit scope should describe as necessary all of the following EXCEPT:
The__________ is where the audit determines whether process controls exist and are sufficient to provide reasonable assurance that the desired performance will be achieved. Where as The ____________ is where the audit includes methodology for measuring performance either because the audited entity is not measuring its own performance or because its performance measurement efforts are or may be incomplete or unreliable.
Auditors must master a variety of techniques for gathering information. All of the techniques, which involve both manual and electronic means, are described below EXCEPT:
In testing the controls established by management, auditors should be able to identify if there are high-risk areas for integrity violations. Auditor responsibilities for detecting integrity violations include all of the following EXCEPT:
Which is the practice that an organization uses when the audit staff does not possess the needed skills, and management may temporally contract with a specialist to perform the needed function?
Governments must have a means to finance public services, with the primary means being taxation. All of the Following are the primary methods of revenue generation in public administration EXCEPT:
All of the following are the general steps to follow when testing a hypothesis EXCEPT:
All of the following are the construction issues while developing a questionnaire EXCEPT:
All of the following are the standards common to auditors and SAIs EXCEPT:
All of the following are guidelines for effective personnel management EXCEPT:
Circumstances that contribute to the difficulty of measuring experimental programs include all of the following EXCEPT:
TESTED 22 Sep 2025