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Which of the following is correct?

A.

Integrated framework defines internal control broadly and limits internal controls to external controls over financial reporting.

B.

Integrated framework defines external control broadly and does not limit external controls to external controls over financial reporting.

C.

Integrated framework defines internal control broadly and limits internal controls to accounting controls over financial reporting.

D.

Integrated framework defines internal control broadly and does not limit internal controls to accounting controls over financial reporting.

Management styles can be categorized in which two classifications?

A.

Practitioner management and participative management

B.

Autocratic management and participative management

C.

Arbitrary management and exclusive management

D.

Autocratic management and proactive management

The identification and analysis of relevant risks associated with achieving objectives the forming a basis for determining how risks should be managed and controlled is called:

A.

Risk mitigation

B.

Risk assessment

C.

Risk identification

D.

Risk audits

Principles relevant to profession of internal auditing and rules of conduct that describe their behaviors are the components of:

A.

Auditing Reviews

B.

Internal Auditing Profession

C.

Auditing Standards

D.

Institute of Internal Auditors

Questions which generally address the control environment, risk assessment, control activities or monitoring are:

A.

Core questions

B.

Business questions

C.

workshop questions

D.

All of the above

Corporate governance is the organization’s strategic response to management.

A.

True

B.

False

Compliance tests are procedures designed to verify whether controls are being applied in the manner described in the flowcharts, questionnaires etc.

A.

True

B.

False

Description, action steps, time frames, delineated responsibilities are all factors of Objective statements.

A.

True

B.

False

Outcome measures are:

A.

only quantitative and measure results associated with only products delivered by an organization.

B.

both quantitative and qualitative and measure both results associated with products and services delivered by an organization.

C.

only qualitative and measure results associated with only services delivered by an organization.

D.

none of the above

Purchase insurance coverage when:

A.

To avoiding and eliminating the risks where and when possible.

B.

The risk is catastrophic in nature or beyond the capacity of the organization to absorb from current funds.

C.

The expenditure of premiums is not justified by the services incidental to the insurance contract, or other services.

D.

All of the above