WorksheetsRisk
Total questions: 12
Worksheet time: 6mins
This Audit Model is also called cour des comptes (Court of Accounts)
Board Model
Napoleonic Model
Ramp Model
Westminster Model
Which country does not use Westminster Model?
India
Australia
Canada
Republic of Korea
The Philippines adopts _________ model as a structure and ________ model as to function.
Napoleonic; Board
Board; Napoleonic
Napoleonic; Westminster
Westminster; Napoleonic
Which among the following is not a new role that auditors performed in 4th generation audit approach?
Performs assurance and advisory activities to add value and improve an organization’s operation
Helps an organization accomplish its objectives
Brings a systematic, discipline approached to evaluate and improve the effectiveness of governance process.
Starts with existing processes, procedures and control activities and audited them for compliance
ISO _____ defines Risk as an effect of uncertainty on objectives.
21000
31000
47000
17000
What do you call where relevance and reliability meet?
Area of Integrity
Point of Integrity
Realm of Integrity
Zone of Integrity
This is the threat that an event, action or inaction will adversely affect an auditee's ability to achieve its objectives and execute its strategies successfully.
Audit Risk
Business Risk
Inherent Risk
Detection Risk
The risk that an auditor might not be able to render the right opinion to the Financial Statements being audited
Audit Risk
Business Risk
Control Risk
Detection Risk
Which of the following is not an auditee's risk concerning environment, processes, and decisions from operations?
Environment Risk
Information and Information Processing Risk
Information for Decision Making Risk
Process Risk
Risk of intentional misstatement to the financial statements by an amount exceeding the tolerable error arising from misstatement or omission of amounts
Error Risk
Fraud Risk
Information and Information Processing Risk
Information for Decision-Making Risk
This risk relates to potential errors or omissions in accounting and management information or financial statements and management reports
Error Risk
Information and Information Processing Risk
Information for Decision-Making Risk
Process Risk
Who said this? "A ship in harbour is safe, but that is not what ships are built for."
John Shedd
Mae West
Helen Keller
Ralph Waldo Emerson
