Podcast
Questions and Answers
Who has the responsibility of establishing a proper ethical culture within an organization?
Who has the responsibility of establishing a proper ethical culture within an organization?
- Senior management
- Auditing team
- Board of directors (correct)
- Operational management
Which of the following is a primary goal of IT governance?
Which of the following is a primary goal of IT governance?
- To balance risk versus return over IT and its processes (correct)
- To adopt and implement the COBIT framework
- To avoid external events beyond the organization's control
- To ensure IT independence from strategic goals
Who is responsible for evaluating the adequacy and effectiveness of internal controls?
Who is responsible for evaluating the adequacy and effectiveness of internal controls?
- Senior management
- Board of directors
- External auditors
- Operational management (correct)
What is an inherent limitation of internal controls?
What is an inherent limitation of internal controls?
What is a potential risk in the process of submitting expense reports for reimbursement?
What is a potential risk in the process of submitting expense reports for reimbursement?
Who is responsible for designing and implementing an effective system of internal control?
Who is responsible for designing and implementing an effective system of internal control?
What is the most likely inherent limitation of the company's internal controls in the cash receipts process?
What is the most likely inherent limitation of the company's internal controls in the cash receipts process?
Which of the following is NOT a primary goal of IT governance?
Which of the following is NOT a primary goal of IT governance?
What is one of the primary responsibilities of internal auditors?
What is one of the primary responsibilities of internal auditors?
Which of the following is a key aspect of internal control?
Which of the following is a key aspect of internal control?
What are the three lines of defense for effective management of risk and control?
What are the three lines of defense for effective management of risk and control?
Which of the following statements is correct about the COSO Internal Control – Integrated Framework?
Which of the following statements is correct about the COSO Internal Control – Integrated Framework?
Which of the following entities belongs to the second line of defense for effective management of risk and control?
Which of the following entities belongs to the second line of defense for effective management of risk and control?
What is a component of internal control defined by the COSO Internal Control – Integrated Framework?
What is a component of internal control defined by the COSO Internal Control – Integrated Framework?
Which of the following is a challenge of implementing internal control?
Which of the following is a challenge of implementing internal control?
What is one of the responsibilities of operational management in the three lines of defense for effective management of risk and control?
What is one of the responsibilities of operational management in the three lines of defense for effective management of risk and control?
What is the primary responsibility of removing pressures to meet unrealistic targets, particularly for short-term results?
What is the primary responsibility of removing pressures to meet unrealistic targets, particularly for short-term results?
What is the primary concern of a senior executive who wishes to demonstrate the importance of the security of company information?
What is the primary concern of a senior executive who wishes to demonstrate the importance of the security of company information?
What is the primary reason why internal controls are likely to fail?
What is the primary reason why internal controls are likely to fail?
Who is primarily responsible for establishing and maintaining internal control?
Who is primarily responsible for establishing and maintaining internal control?
What is the purpose of the three lines of defense?
What is the purpose of the three lines of defense?
What can be a challenge in implementing internal controls?
What can be a challenge in implementing internal controls?
What is the primary responsibility of the external auditor?
What is the primary responsibility of the external auditor?
What is the primary benefit of specifying the competence levels for every job in an organization?
What is the primary benefit of specifying the competence levels for every job in an organization?
