AIS final - 1 A system that employs various types of...

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1. A system that employs various types of advanced technology has more __________ risk than traditional batch processing. Student Response Value Correct Answer A. control B. detection C. inherent 100% D. investing Score: 2/2 2. The auditor has various software programs available to help in the audit effort. A program that, based on auditor specifications, generates programs that perform certain audit functions is referred to a(n) Student Response Value Correct Answer A. input controls matrix. B. CAS. 100% C. VAN. D. mapping program. Score: 2/2 3. An audit should be planned so that the greatest amount of audit work focuses on the areas with the highest risk factors. Regarding risk factors, control risk is defined as
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Student Response Value Correct Answer A. the susceptibility to material risk in the absence of controls. B. the risk that a material misstatement will get through the internal control structure and into the financial statements. C. the risk that auditors and their audit procedures will not detect a material error or misstatement. 0% D. the risk auditors will not be given the appropriate documents and records by management who wants to control audit activities and procedures. Score: 0/2 4. The purpose of __________ is to determine why, how, when, and who will perform the audit. Student Response Value Correct Answer A. audit planning 100% B. the collection of audit evidence C. the communication of audit results D. the evaluation of audit evidence
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Score: 2/2 5. Assessing the quality of internal controls, the reliability of information, and operating performance are all part of which stage of the auditing process? Student Response Value Correct Answer A. audit planning B. collection of audit evidence C. evaluation of audit evidence 100% D. communication of audit results Score: 2/2 6. The __________ to auditing provides auditors with a clear understanding of possible errors and irregularities and the related risks and exposures. Student Response Value Correct Answer A. risk-based approach 100% B. risk-adjusted approach C. financial audit approach D. information systems approach Score: 2/2 7.
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The evidence collection method that is used to gather data about the system is Student Response Value Correct Answer A. reperformance. B. questionnaires. 100% C. valuation. D. none of the above Score: 2/2 8. The __________ part of the auditing process involves (among other things) the auditors observing the operating activities and having discussion with employees. Student Response
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This note was uploaded on 05/04/2011 for the course ACCY 142 taught by Professor Dr.x during the Spring '11 term at CSU Sacramento.

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AIS final - 1 A system that employs various types of...

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