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According to the Standards, which of the following is based on the assertion that the quality of an organization's risk management process should improve with time?
According to the Standards, which of the following is based on the assertion that the quality of an organization's risk management process should improve with time?A . Process element.B . Key principles.C . Maturity model.D . Assurance.View AnswerAnswer: C
At what point during the systems development process should an internal auditor verify that the new application's connectivity to the organization's other systems has been established correctly?
At what point during the systems development process should an internal auditor verify that the new application's connectivity to the organization's other systems has been established correctly?A . Prior to testing the new application.B . During testing of the new application.C . During implementation of the new application.D . During...
In order to provide useful information for an organization's risk management decisions, which of the following factors is least important to assess?
In order to provide useful information for an organization's risk management decisions, which of the following factors is least important to assess?A . The underlying causes of the risk.B . The impact of the risk on the organization's objectives.C . The risk levels of current and future events.D . The...
Which of the following is the best reason for considering the acquisition of a nondomestic organization?
Which of the following is the best reason for considering the acquisition of a nondomestic organization?A . Relatively fast market entry.B . Improved cash flow of the acquiring organization.C . Increased diversity of corporate culture.D . Opportunity to influence local government policy.View AnswerAnswer: A
Presented below are partial year-end financial statement data (000 omitted from dollar amounts) for companies A and B:
Presented below are partial year-end financial statement data (000 omitted from dollar amounts) for companies A and B: If company A has a quick ratio of 2:1, then it has an accounts receivable balance of:A . $100B . $200C . $300D . $500View AnswerAnswer: A
Which of the following is useful for forecasting the required level of inventory?
Which of the following is useful for forecasting the required level of inventory? 1) Statistical modeling. 2) Information about seasonal variations in demand. 3) Knowledge of the behavior of different business cycles. 4) Pricing models linked to seasonal demand.A . 1 and 2 onlyB . 2 and 3 onlyC ....
Which of the following approaches is most appropriate to address this concern?
An internal auditor performed a review of IT outsourcing and found that the service provider was failing to meet the terms of the service level agreement . Which of the following approaches is most appropriate to address this concern?A . The organization should review the skill requirements and ensure that...
Which of the following statements is false regarding the internal audit approach when a set of standards other than The IIA's Standards is applicable to a specific engagement?
Which of the following statements is false regarding the internal audit approach when a set of standards other than The IIA's Standards is applicable to a specific engagement?A . The internal auditor may cite the use of other standards during audit communications.B . If the other standards are government-issued, the...
Which of the following is true regarding the supporting application software used by that provider compared to an in-house developed system?
An organization facing rapid growth decides to employ a third party service provider to manage its customer relationship management function . Which of the following is true regarding the supporting application software used by that provider compared to an in-house developed system? 1) Updating documentation is always a priority. 2)...
Which of the following statements best describes the frameworks set forth by the International Standards Organization?
Which of the following statements best describes the frameworks set forth by the International Standards Organization?A . Globally accepted standards for industries and processes.B . Bridging the gaps among control requirements, technical issues, and business risks.C . Practical guidance and benchmarks for all organizations that use information systems.D . Frameworks...
