KCw and Life - Quiz 8

What are the correct order of steps to take within the Clara workflow for documenting IT controls

(i) Identify GITCs that address the RAFIT

(ii) Identify the relevant layers of technology

(iii) Add an automated control

(iv) Identify relevant RAFITs

• I, II, III, IV

• IV, II, III, I

• III, IV, II, I

• III, II, IV, I

Which of the following are among the considerations used to evaluate if information is sufficiently reliable?

(i) Relationship of the information with the objective of planned procedures

(ii) Precision of the information to meet the objective of planned procedures

(iii) The source and nature of the information

(iv) How the information is used in our audit

• I and II

• I and IV

• II and III

• III and IV

Which of the following is NOT true related to the Ownership functionality in Project Plan?

• It identifies who is currently responsible for each activity or attachment.

• Ownership will progress automatically from person to person as team members sign-off on an activity or attachment.

• You may manually modify ownership in Project Plan using the Assignment task pane.

• It provides the client with insight to the status of the engagement file and timing of the audit.

When may you use attribute sampling in an audit?

(i) When you’re testing monetary data in disclosures in the financial statements.

(ii) When other non-KPMG firm created literature indicates attribute sampling is appropriate.

(iii) When you’re direct testing internal information.

(iv) When you’re testing information used by management in an estimate.

• I and II

• I and III

• II and IV

• III and IV

If there are less than 250 units in the population, what determines your sample size for direct testing?

• The sample size is determined by auditor judgment based on the risks of misstatement.

• MUS determines the sample size.

• The sample size is determined based on the tolerable rate of deviation.

• Lower of the sample size per the relevant sample size table, or a percentage of the number of items in the population.

Who is the "King of Pop"?

• Michael Jackson

• Lionel Richie

• Bruno Mars

• Shawn Mendes

When did Vietnam become an member of the UN?

• 1997

• 1987

• 1967

• 1977

Which country is selected as host country for AFF Suzuku Cup 2020?

• Thailand

• Malaysia

• Singapore

• Vietnam

Which is the Vietnam's largest companys by market cap in 2020?

• Joint Stock Commercial Bank for Foreign Trade of Vietnam

• Vinhomes JSC

• Vietnam Dairy Products Joint Stock Company

• Vingroup JSC

Which is the only country in the World with no Traffic lights?

• Nepal

• Bhutan

• Argentina

• Brunei