BT Ch-9 Control, Security and Audit

Control is the result of proper planning, ............................. And ................................

A. Organizing

B. Marketing Polices

C. Employment Tasks

D. Directing of Management

E. Auditing.

• A and B

• C and D

• B and E

• A and D

The internal control system comprise of the ........................... And ..................................

• Control Accounting & Control Auditing

• Control Auditing & Control Procedures

• Control Procedures & Control Accounting

• Control Procedures & Control Environment

Internal Control may be incorporated within the................................... System

• Management reporting

• Computerized Accounting

• Staff Attendance

• Taxation

Which of the following are the key objectives of Internal Control System?

Select the best answer.

A. Prevention and Detection of Fraud and Error

B. The timely preparation of reliable financial information system

C. The accuracy and completeness of the accounting records

D. The safeguarding of Assets

E. All of the above.

• A, B and C

• B, C and D

• A, C and D

• All of the above

The Control environment is the overall .................... , ................ And .................... Of Directors and management regarding internal control and their importance in the entry -

A. Awareness

B. Attitude

C. Action

D. Reaction

E. Interest

• A,B and C

• B, C and D

• C, D and E

• B, D and E

......................... Provide the background against which the various other controls are operated.

• Management Control

• Risk Control

• Control Environment

• Auditor Control

.................. Are those policies and procedures in addition to the control environment which are established to achieve the entity’s specific objectives.

• Control Accounting

• Control Auditing

• Control Procedures

• Control Environment

Which of the following are the Classifications of internal control procedure?

Select the best answer.

A. Administration

B. Accounting

C. Prevent

D. Detect

E. Correct

F. All of the above

G. None of the above.

• A,B. and C

• B, C and D

• F

• G

Control Design to prevent errors from happening in the first place. I.e. Checking invoices from suppliers against goods received notes before paying the invoices. This is the example of ..................... Control.

• Correct

• Detect

• Prevent

• Administrative.

Designed identify errors once they have happened. I.e. Bank reconciliation and physical checks of inventory against inventory records. Are example of .............................. Control procedure.

• Detect

• Prevent

• Correct

• Discretionary