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WorksheetsIT Governance and Controls
Total questions: 10
Worksheet time: 10mins
Name
Class
Date
1.
It is the probability that the auditor will render an unqualified (clean) opinion on financial statements that are, in fact, materially misstated.
a)
Audit risk
b)
Detection Risk
c)
Control Risk
d)
Inherent risk
e)
Errors
2.
It is associated with the unique characteristics of the business or industry of the client.
a)
Audit risk
b)
Detection Risk
c)
Control Risk
d)
Inherent risk
e)
Errors
3.
It is the likelihood that the control structure is flawed because internal controls are either absent or inadequate to prevent or detect errors in the accounts
a)
Audit risk
b)
Detection Risk
c)
Control Risk
d)
Inherent risk
e)
Errors
4.
It is the risk, which auditors are willing to accept, that errors are not detected or prevented by the control structure.
a)
Audit risk
b)
Detection Risk
c)
Control Risk
d)
Inherent risk
e)
Errors
5.
Controls apply to a wide range of exposures that systematically threaten the integrity of all applications processed within the CBIS environment.
a)
IT General Controls
b)
IT Application Controls
c)
Organizational Controls
d)
Process Controls
6.
Controls that are narrowly focused on exposures within specific systems such as controls to make sure that each employee only receives one paycheck per pay period and controls to ensure that each invoice gets paid only once.
a)
IT General Controls
b)
IT Application Controls
c)
Organizational Controls
d)
Process Controls
7.
It refers to the size of the effect of a transaction. From a cost-benefit point of view, an amount level is set, above which the auditor is concerned with the correct recording and effects of transactions.
a)
Population
b)
Samples
c)
Sampling size
d)
Materiality
8.
It involves listening to output transmissions over telecommunications lines. Available technologies enable perpetrators to intercept messages being sent over unprotected telephone lines and microwave channels.
a)
Scavenging
b)
Operations fraud
c)
Eavesdropping
d)
Database management fraud
9.
It is the review of organization chart, job descriptions, password controls, and physical access controls.
a)
Test of Control
b)
Audit Objective
c)
Control
d)
Risk
10.
Which of the following can be considered a potential computer fraud?
a)
Entering false transaction
b)
Creating illegal programs that can access data files to alter, delete, or insert values into accounting records;
c)
Using the computer to conduct personal business
d)
All are considered potential computer fraud
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