1. 1. COSO is the abbreviation of which of the following organizations:

•  A. Supreme Audit Institution

•  B. National Council Committee on Combating Fraud in Financial Statements

•  C. Association of Practicing Auditors Vietnam

•  D. Vietnam Association of Accountants

2. The policies and procedures helping to ensure that management directives are

executed and actions are taken to address risks to the achievement of objectives

describes...

• A. Control activities.

• B. Risk assessments.

• C. Control environments.

• D. Monitoring.

3. The identification of damaged and obsolete inventory is important when valuing inventory. The best auditing procedure to discover damaged inventory   included in closing inventory is to:

• A. Compare the physical quantities of slow-moving items with corresponding quantities

  of the previous year.

• B. Review management's inventory certificate for accuracy.

• C.Test the overall fairness of the inventory values by comparing the company's

  inventory turnover ratio with the industry average.

• D. Inspect inventory during the physical inventory count.

4. The internal audit process includes the following steps:

• A. Plan – Implement – ​​Follow up after the audit – Complete and announce

• B. Implement – ​​Complete and announce – Follow up after the audit

• C. Plan – Implement – ​​Complete and announce – Follow up Post-audit monitoring

• D. Post-audit reporting and monitoring

5. In the internal audit process, the final stage is "Follow-up after audit", the specific work in this phase of the auditor is:

• A.Check the correction of the "actual" part of the internal audit's detection process

• B.Check the correction of detected irregularities during the audit implementation phase

• C. Check the contents related content in the period after the date of issue of the audit report

• D. None of the above is true

6. According to COSO, the purpose of ERM - Enterprise Risk Management - Integrated Framework is:

• A. Risk management

• B. Risk monitoring

• C. Risk assessment

• D. All 3 statements are correct

7. What is the internal audit process?

• A. A process to determine the accuracy of financial statements

• B.A process to verify accuracy and ensure compliance with the organization's internal procedures and regulations

• C.A process to gather information from stakeholders

• D.A process for analyzing financial statements

8. What stages does the internal audit process usually include?

• A.Plan, collect information, evaluate and process results

• B.Information collection, planning, results processing and evaluation

• C.Evaluation, results processing, planning and information gathering

• D.Results processing, evaluation, information gathering and planning

9. Which of the following is a primary objective of internal audit procedures?

• A. Detecting fraud and errors

• B. Preparing financial statements

• C. Evaluating competitor performance

• D. Assisting with tax compliance

10. What is the purpose of risk assessment in internal audit procedures?

• A. To determine the efficiency of internal controls

• B. To identify potential risks and vulnerabilities within an organization

• C. To assess the financial performance of the organization

• D. To verify compliance with legal regulations