IIA-CGAP Online Practice Questions and Answers

All of the following are types of audit services EXCEPT:

A. Audits of Compliance and Audits of Information and related technology

B. Audits of Financial Statements and Audits of Financial Systems

C. Audits of Performance/Value-for-Money/Operations (economy, efficiency, effectiveness).

D. Quality services

The COSO report suggests that organizations should plan to the extent possible for change. All of the following are Specific elements related to planning for change EXCEPT:

A. Not to maintain effective management controls.

B. Look toward the future when developing missions and goals.

C. Assess the effectiveness of programs on a continuous basis.

D. Develop strong communication channels within the organization.

The application of appropriate standards depends on all of the following EXCEPT:

A. The objective of the engagement

B. Availability of information.

C. Legally binding agreement

D. Other mandates or local requirements relevant to the audit organization and the engagement itself.

Section _________ will detail some specific audit planning steps that are often utilized to ensure that the appropriate legal and audit standards are applied in ___________:

A. Audit proposals, Audit engagements

B. Audit engagements, II.C.2 (Planning)

C. II.C.2 (Planning), Audit engagements

D. Audit engagements, Audit proposals

The primary purpose of _______ was to promote planning activities. Where as _________ was developed to alleviate this problem by reevaluating the complete budget and starting from zero on each new budget year.

A. Zero-based budgeting, program budgeting

B. Program budgeting, Zero-based budgeting

C. Zero-based Budget, Integrated Budget

D. Program Budget, Executive Budget

From a government perspective, accountability involves all of the following interrelated groups EXCEPT:

A. The general public and particularly those receiving public services.

B. Service providers whose objectives and interests often differ from the first two.

C. Political leaders and officials who manage service providers to be accountable for a mixture of public and private interests.

D. Involve people with the necessary knowledge, ability, and commitment to fulfill their responsibilities.

Auditing plays an important role in ensuring accountability. Through its various forms (internal and external), auditing provides a method of control to help ensure that objectives are realized in an appropriate manner. Some broad areas covered by audits include all of the following EXCEPT:

A. The accuracy and completeness of records.

B. Compliance with laws, regulations, contract terms, policies, and procedures.

C. Complexity of objectives.

D. Economy and efficiency of operations.

All of the Following are the major goals of COSO EXCEPT:

A. Establish a common definition of internal control.

B. Provide a standard against which organizations can assess their control systems.

C. Create and track Specific, Measurable, Achievable, Results-Oriented and Time Sensitive goals.

D. Provide a straight-forward line-of-sight view of cascaded organizational goals for both managers and employees.

The major areas to consider the audit planning process include all of the following given below please choose the correct option:

A. Collect and analyze background information on area to be audited.

B. Determine resources available and needed to conduct audit.

C. Develop audit criteria (criteria should be reasonable, attainable, and relevant).

D. A and C only

Control activities are policies and procedures used by the organization to address identified risks. All of the following are some examples of control activities EXCEPT:

A. Internal accounting controls (e.g., segregation of duties, monitoring, reconciliation).

B. Management controls (e.g., the plan, methods, and procedures adopted by management to ensure its goals are met, including systems for measuring, reporting, and monitoring program performance).

C. Detective controls are designed to identify and correct undesirable events that have occurred.

D. Information technology controls (e.g., access security controls, data center operation controls).