{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

prequiz reight and wrong

prequiz reight and wrong - The internal auditing's role in...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
The internal auditing's role in the risk management process of an organization can change over time and may be found at some point along a continuum. Appropriate roles include I. Implementing risk responses II. Providing assurance on the risk management process III. Coaching management in responding to risks IV. Setting the risk appetite Answer I only II only II and III only I, II, III, IV only Which of the following are business processes? I. Compliance with environmental regulations II. Review and write-off of delinquent loans III. Safeguarding of assets IV. Remittance of payroll taxes to the respective local and federal tax authorities Answer II only. I and III only. II and IV only I, II, III, and IV Whether a deviation is an error or irregularity is determined by Answer the intent of the individual(s) involved. whether the individual involved is a manager. whether the process is manual or computerized. the amount of the deviation. Flowcharting would most likely be used in the evaluation of controls in: Answer A complex system. A simple but well documented system. An internal audit department with limited experience in the evaluation of internal control systems. An application involving the joint efforts of both internal and external auditing.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
According to the COSO study, how many components comprise the internal control system? Answer 3. 5. 9. 15. Of the techniques available to an auditor, which is the most valuable in providing a summary outline and overall description of the process of transactions in an information system?
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 6

prequiz reight and wrong - The internal auditing's role in...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon bookmark
Ask a homework question - tutors are online