Auditing Chapter 1 - Assurance Services on Information Technology

Internal auditors are usually independent consultants hired by a company.

False

Compliance audits are not typically performed by internal auditors.

False

CPAs are required to pass four sections of the CPA examination.

False

Tax auditors are responsible for addressing internal control within a company.

False Signup and view all the answers

The Institute of Internal Auditors is the national organization of internal auditors.

False Signup and view all the answers

CPA candidates are not required to have any practical experience to become certified.

False Signup and view all the answers

Tax auditors primarily focus on developing fraud risk profiles and assessing the adequacy of company systems in preventing fraud.

False Signup and view all the answers

Internal auditors assess security risks and controls over data stored electronically, including backup adequacy.

True Signup and view all the answers

CPA requirements involve compliance audits to ensure adherence to trading policies and procedures.

False Signup and view all the answers

Compliance with entertainment royalty agreements is an example of an assurance service.

True Signup and view all the answers

Internal controls relate to evaluating the adequacy of environmental audits.

False Signup and view all the answers

Differentiating the three main types of audits is a learning objective in CPA requirements.

False Signup and view all the answers

WebTrust is an attestation service that evaluates and tests system reliability in areas such as security and data integrity.

False Signup and view all the answers

SysTrust is primarily concerned with evaluating processing integrity and availability.

True Signup and view all the answers

Online privacy is not one of the principles for WebTrust and SysTrust services.

False Signup and view all the answers

Certification authorities are considered in both WebTrust and SysTrust services.

False Signup and view all the answers

Controls over and risks related to investments are typically assessed as part of WebTrust and SysTrust services.

False Signup and view all the answers

Compliance audits are a common scope of work for both WebTrust and SysTrust services.

False Signup and view all the answers

Auditing Chapter 1 - Assurance Services on Information Technology

Questions and Answers

Internal auditors are usually independent consultants hired by a company.

Compliance audits are not typically performed by internal auditors.

CPAs are required to pass four sections of the CPA examination.

Tax auditors are responsible for addressing internal control within a company.

The Institute of Internal Auditors is the national organization of internal auditors.

CPA candidates are not required to have any practical experience to become certified.

Tax auditors primarily focus on developing fraud risk profiles and assessing the adequacy of company systems in preventing fraud.

Internal auditors assess security risks and controls over data stored electronically, including backup adequacy.

CPA requirements involve compliance audits to ensure adherence to trading policies and procedures.

Compliance with entertainment royalty agreements is an example of an assurance service.

Internal controls relate to evaluating the adequacy of environmental audits.

Differentiating the three main types of audits is a learning objective in CPA requirements.

WebTrust is an attestation service that evaluates and tests system reliability in areas such as security and data integrity.

SysTrust is primarily concerned with evaluating processing integrity and availability.

Online privacy is not one of the principles for WebTrust and SysTrust services.

Certification authorities are considered in both WebTrust and SysTrust services.

Controls over and risks related to investments are typically assessed as part of WebTrust and SysTrust services.

Compliance audits are a common scope of work for both WebTrust and SysTrust services.

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