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The internal audit activity should evaluate risk exposures relating to the organization’s risk management system, is:
Which of the following is NOT the internal factor that could affect the objective setting?
Which structures characterized by fast information flow between levels of the organization and high employee satisfaction?
In traditional approach, objectives used were of management’s and in control selfassessment approach it is of work teams’.
When internal auditors establishes trust and thus provides the basis for reliance on their judgment, this refers to:
The technique that involves developing a sequence of possible events and projecting potential results refers to:
What says that control policies and procedures must be established and executed to help ensure that the actions identified by management as necessary to address risks to achievement of entity’s objectives are effectively carried out?
_____________ define specific organizational goals and should be reasonably obtainable and contain execution strategies.
To provide management with information to mitigate the negative consequences associated with accomplishing the organization’s objectives is the:
An efficient and economical method of storing data so it can be accessed quickly for management decisions using access tools like searches and records is known as:
Skill at sensing other people’s emotions, understanding their perspective and taking an active interest in their concerns is called:
“I understand how to use the business unit’s new automated accounting software”, this question falls in which category?
The documented or tangible control tools used by an organization such as policies and procedures are known as:
Determination that the evidence has a logical relationship to the findings is known as:
The process of monitoring the external and internal environment of an organization is commonly referred to as:
Use of observations and interviews to study how people learn, interact with others or make decisions refers to:
An ethical tone has been established at the top of the organization and has been communicated throughout the organization.
Adjusting entries made without formal approval is a fraud warning of financial characteristics.
The measures are generally quantitative in that they measure the quantities of products or services delivered by an organization are referred to as:
Comparison of cost of a program or activity to a measurable unit of output or outcome is called cost-residuary impact.
Which of the following is NOT the reason why organizations use strategic planning?
In traditional approach, evaluating risks and controls were done by auditors and in control self-assessment approach it is done by work teams.
No policy regarding identification, sale and disposal of obsolete and surplus materials is a fraud warning sign of Inventory
To make sure the performance data is accurate, sufficient and reliable is called:
Who are the people who benefit from the organization, use its products or services or who are otherwise associated?
The characteristics or values that will be used to measure outputs, outcomes or service levels from the activities of each operating unit, function, program or activity defines:
___________ are clearly communicated to all employees and management obtains feedback signifying that the communication has been effective.
What aims to allow individuals involved in the process to assist the CSA team in identifying the risks and control weaknesses in the processes being reviewed?
Organizations with centralized structures with a strict chain of command and typically perform highly repetitive tasks grouped within their functional areas, have:
Management thinks in terms of risk (implicitly and explicitly), and management rarely thinks in terms of control.
Internal audit reports characteristic of the internal auditor’s paradigm has internal control as its old paradigm and addressing process risks as its old paradigm.
A weak control is equal to high vulnerability and a strong control is equal to the low vulnerability.
A process to identify, assess, manage and control potential events in order to provide reasonable assurance regarding the achievement of the organization’s objectives is called:
What generally includes estimating the risk’s significance, assessing the likelihood of its occurrence and deciding how to manage the risk and what actions should be taken?
Programmed procedures designed to prevent, detect and correct errors or irregularities that could adversely impact the organization’s business activities are called:
In traditional approach, final report is issued by management and in control selfassessment approach it is issued by work teams’.
Remedy of the circumstances that allowed the unauthorized activity or return conditions to what they were before the violation, is called:
What involve developing a purpose and goals statement for CSA, resource budgets and projected completion time lines?
Tall organization structures have a large number of levels between the top of the organization and the bottom.
Good team communication, leadership, environment of trust and respect, good management are all factors of:
Which of the following is NOT the factor involved that influence the state of an organization’s control environment?
What assess the overall effect of the program and are typically conducted on a periodic or as needed basis?
Accurate self-assessment is a realistic evaluation of your strengths and limitations.
What refers to shared beliefs, values and behaviors of the members of an organization?
Information related to either the elements outside the organization’s control or to elements that the organization can control at least to some extent is called:
Fill in the Blanks
________ are the targets or goals that an organization to needs to achieve in order to fulfill its purpose as articulated in its mission, mission and value statements.
_________ are preferred if the culture in the organization may hinder open, candid discussions in workshop settings or of management desires to minimize the time spent and cost incurred in gathering the information.
The change that results in a need to change policies, procedures, staffing levels or goals refers to which change?
Operational risk is the day to day mitigation of safety and health risks of employees performing their jobs.
Post implementation reviews of projects allow management to assess the degree to which the objectives were achieved for the resources expended in which phase of project management?
Risk assessment and developing plans and processes for risk mitigation is the purpose of:
Votes are cast anonymously and all responses are confidential is one of the advantages of:
Who identified internal control components including Control environment, Information & communication, risk assessment, control activities and Monitoring?
What flow from and are linked with the organization’s entity wide objectives and strategic plans?
TESTED 02 May 2026