Which of the following is NOT the purpose of an organization that uses self-assessment to have a formal, documented process that allows management and work teams to participate in a structured manner?
A. Identifying risk factors and significant exposures.
B. Accessing the control processes that do not mitigate or manage those risks.
C. Developing action plans to reduce risks to acceptable levels.
D. Determining the likelihood of, or assisting in, the achievement of business objectives.
Which of the following is Correct?
A. Employees working in a process are in a good position to identify ways to eliminate waste and streamline production through more efficient use of resources.
B. Employees working in a process are in a good position to identify ways to eliminate waste and streamline production through better understanding of responsibility.
C. Employees working in a process are in a good position to identify ways to eliminate waste and streamline production through improved communication.
D. Employees working in a process are in a good position to identify ways to eliminate waste and streamline production through effective team building.
Action plans should have which following characteristics to be effective?
A. Practical, Feasible, durable, General
B. Practical, Feasible, Cost effective, Specific
C. Sufficient, changeable, Cost effective, Specific
D. Practical, Feasible, Reliable, Specific
Which evidence is obtained from individuals through oral or written statements such as interviews, surveys and questionnaires?
A. Documentary
B. Testimonial
C. Analytical
D. Physical
The amount of resources used or planned for a specific service or program is called:
A. Measures of resources
B. Financial measures
C. Measures of efforts
D. Measures of completeness
What assess the overall effect of the program and are typically conducted on a periodic or as needed basis?
A. Program evaluation
B. Program effectiveness
C. Program efficiency
D. Program routine
The risk that deficiencies in expenditure control or revenues will adversely affect agreedupon outcomes or objectives is called:
A. Unmodified risk
B. Operational risk
C. Absolute risk
D. Fiscal risk
Which of the following is NOT the entity's objective that is consistent with the entity's risk appetite?
A. Strategic
B. Operations
C. Reporting
D. Internal environment
Internal audit focus characteristic of the internal auditor's paradigm has internal control as its old paradigm and its new paradigm is:
A. Important risks
B. continuous monitoring
C. Business risk
D. Diversify risk
Segregation of the accounts payable, disbursement and accounting functions would define a:
A. Control point
B. Accountability
C. Expense level
D. None of the above
