This Tutorial contains More than 150 Question Test Bank (we have listed some of the Questions below)\t\u00a0\tACC 576 Study Week 6\t\t\tWhich of the following did SOX NOT do to protect whistleblowers?\t\t\tDan provided original information to authorities regarding a securities fraud in his company. It led the SEC to impose penalties of $2 million. Which of the following is most likely to be Dan’s award under Dodd-Frank?\t\t\tWhich of the following is necessary to be an audit committee financial expert, according to the criteria specified in the Sarbanes-Oxley Act of 2002?\t\t\tWhich of the following did Dodd-Frank do regarding a whistleblower’s right to sue for retaliation accorded by SOX?\t\t\tA public company audit committee’s “financial expert” must have all of the following except:\t\t\tFang provided original information to authorities regarding a securities fraud in his company. The information led to an imposition of penalties of $500,000. It also led to Fang being fired in retaliation by his public company employer. Which of the following is true?\t\t\tPublic company audit committees must contain which of the following?\t\t\tUnder SOX, it is a crime to punish a public company whistleblower who provides truthful information relating to which of the following:\t\t\tMar has been complicit in her public company’s accounting fraud. She consults a lawyer as the time comes to file her firm’s 10-K with the SEC. She is a little uncomfortable with what she might have to do. The lawyer will likely tell her that she will have to certify (and be potentially criminally liable for lying about) these matters:\t\t\tMilo Corp. maintains daily backups of its accounting system in a fireproof vault in the file library. Weekly, monthly, and annual backups are stored in a secure, fireproof vault at an off-site location.\t\t\tMaintenance of the backup files is an example of\t\t\tReview of the audit (also called transaction) log is an example of which of the following types of security control?\t\t\tWhich of the following statements presents an example of a general control for a computerized system?\t\t\tControls in the information technology area are classified into the categories of preventive, detective, and corrective. Which of the following is a preventive control?\t\t\tA company’s new time clock process requires hourly employees to select an identification number and then choose the clock-in or clock-out button. A video camera captures an image of the employee using the system. Which of the following exposures can the new system be expected to change the least?\t\t\tWhich of the following is an example of a detective control?\t\t\tIn the COSO “cube” model, each of the following is a control objective except\t\t\tIn the COSO “cube” model, this component of internal control enables an organization’s people to identify, process, and exchange the information needed to manage and control operations.\t\t\tThis component of internal control concerns the policies and procedures that ensure that actions are taken to address the risks related to the achievement of management’s objectives.\t\t\tThis fundamental component of internal control is the core or foundation of any system of internal control.\t\t\tThis component of internal control concerns testing the system and its data.\t\t\tAccording to COSO, which of the following is a compliance objective?\t\t\tThis is the process of identifying, analyzing, and managing the risks involved in achieving the organization’s objectives.\t\t\tIn the COSO (2011) “cube” model, each of the following are components of internal control except\t\t\tAccording to the 17 COSO control principles, risk reduction primarily relates to which fundamental component of internal control:\t\t\tAccording to the 17 COSO control principles, establishing a whistle-blower hot line contributes to:\t\t\tAccording to the 17 COSO control principles, information quality primarily relates to which fundamental component of internal control:\t\t\tAccording to the 17 COSO control principles, organizational objectives primarily relate to which fundamental component of internal control:\t\t\tAccording to the 17 COSO control principles, addressing control deficiencies primarily relates to which fundamental component of internal control:\t\t\tAccording to the 17 COSO control principles, change management primarily relates to which fundamental component of internal control:\t\t\tAccording to the 17 COSO control principles, fraud primarily relates to which fundamental component of internal control:\t\t\tThe original COSO model has _____ control components, while the COSO ERM model has _____ control components.\t\t\tStrategic, operations, reporting, and compliance objectives are a part of which of the following models of internal control?\t\t\tWhich of the following items is one of the eight components of COSO’s enterprise risk management framework?\t\t\tWhich component of the COSO ERM framework is concerned with management’s decision to avoid, accept, reduce, or share risk and to develop a set of actions to align risk with the entity’s risk preferences?\t\t\tActivities that can be useful in monitoring control system effectiveness include all of the following except\t\t\tThe goals of risk management include:\t\t\tAccording to COSO, which of the following is the most effective method to transmit a message of ethical behavior throughout an organization?\t\t\tEach of the following is a limitation of enterprise risk management (ERM) except\t\t\tWhich of the following control activities should be taken to reduce the risk of incorrect processing in a newly installed computerized accounting system?\t\t\tRecognizing potential impediments to communication between system user and system designer can be useful in\t\t\tA senior executive of an international organization who wishes to demonstrate the importance of the security of company information to all team members should\t\t\tIn which of the following organizations might segregation of duties be easiest to achieve?\t\t\tA manufacturing firm noted that it would have difficulty sourcing raw materials locally, so it decided to relocate its production facilities. According to COSO, this decision represents which of the following responses to the risk?\t\t\tWhich of the following is most useful when risk is being prioritized?\t\t\tAccording to COSO, the two primary attributes of effective evaluators are\t\t\tWhich of the following are reasons that internal controls need to be monitored?\t\t\tWhich of the following is the best definition of a compensating control?\t\t\tWithin the COSO Internal Control-Integrated Framework, which of the following components is designed to ensure that internal controls continue to operate effectively?\t\t\tAccording to COSO, an effective approach to monitoring internal control involves each of the following steps,except\t\t\tAccording to COSO, the use of ongoing and separate evaluations to identify and address changes in internal control effectiveness can best be accomplished in which of the following stages of the monitoring-for-change continuum?\t\t\tInternal control monitoring is considered\t\t\tWhich of the following is not a major step in the COSO model of control monitoring?\t\t\tIn a large public corporation, evaluating internal control procedures should be the responsibility of\t\t\tThe system of internal control begins with\t\t\tThe IIA’s International Professional Practices Framework includes among its “mandatory” guidance each of the following elements except\t\t\tOne of the Rules of Conduct in the IIA’s Code of Ethics states, “Internal auditors shall perform internal audit services in accordance with the International Standards for the Professional Practice of Internal Auditing.” To which Principle of the Code of Ethics does this Rule of Conduct relate?\t\t\tThe IIA’s Code of Ethics identifies four “Principles” around which the 12 Rules of Conduct are organized. Each of the following key words or phrases is associated with these Principles except\t\t\tWhat term identifies the type of internal auditing standards used to measure the quality of the internal auditor’s conduct in delivering internal audit services?\t\t\tWhat term identifies the type of internal auditing standards used to describe the characteristics associated with organizations and individuals who provide internal audit services?\t\t\tThe IIA’s Definition of Internal Auditing specifically mentions each of the following terms among the organizational objectives to be improved by internal auditing except\t\t\tWhat term is used in the IIA’s International Standards to identify the person responsible for managing an organization’s internal audit activity?\t\t\tThe Attribute Standards related to an internal audit activity’s Quality Assurance and Improvement Program must include periodic external assessments. How often is an external assessment required?\t\t\tThe Attribute Standards focus on four primary themes around which the remaining Attribute Standards are organized. Each of the following key words or phrases is associated with those four primary themes except\t\t\tStandard 1300, “Quality Assurance and Improvement Program,” states, “The chief audit executive must develop and maintain a quality assurance and improvement program that covers all aspects of the internal audit activity.” Six additional Attribute Standards provide further requirements on that topic. Which of the following is an accurate statement regarding the standards applicable to the required Quality Assurance Improvement Program?\t\t\tThe Performance Standards focus on seven primary themes around which the remaining Performance Standards are organized. Each of the following key words or phrases is associated with these seven primary themes except\t\t\tThe Performance Standards focus on seven primary themes around which the remaining Performance Standards are organized. Each of the following key words or phrases is associated with these seven primary themes except\t\t\tWhat term identifies the guidance in the International Standards for the Professional Practice of Internal Auditing that distinguishes between requirements for “assurance” services and “consulting” services?\t\t\tThere are seven additional Performance Standards that relate to Standard 2000, “Managing the Internal Audit Activity.” The general theme of these standards associated with Managing the Internal Audit Activity is best characterized by which of the following statements?\tQuiz 6\tQuestion 1 (IFTC-0112)\tControls in the information technology area are classified into the preventive, detective, and corrective categories.\u00a0 Which of the following is a preventive control?\tQuestion 2 (IFTC-0082)\tAn organization relied heavily on e-commerce for its transactions.\u00a0 Evidence of the organization’s security awareness manual would be an example of which of the following types of controls?\tQuestion 3 (IFTC-0067)\tWhich of the following types of control plans is particular to a specific process or subsystem, rather than related to the timing of its occurrence?\tQuestion 4 (CGIC-0032)\tWhich of the following is true about the Sarbanes-Oxley requirements regarding the audit committee financial expert?\tQuestion 5 (CGIC-0026)\tWhich of the following is not a component of COSO’s enterprise risk management framework?\tQuestion 6 (CGIC-0010)\tWhich of the following is not required by the Sarbanes-Oxley Act of 2002?\tQuestion 7 (CGIC-0025)\tWhich of the following is not an advantage of the employment of an enterprise risk management (ERM) system?\tQuestion 8 (CGIC-0008)\tA financial statement audit performed under the requirements of the Sarbanes-Oxley Act of 2002 must include an examination and report upon\tQuestion 9 (CGIC-0024)\tAn important benefit of an enterprise risk management system is\tQuestion 10 (CGIC-0023)\tWhich of the following bodies has developed a framework for enterprise risk management?\tQuestion 11 (CGIC-0005)\tWhich of the following executives of an issuer corporation must certify to the accuracy and truthfulness of financial reports filed with the SEC?\tQuestion 12 (CGIC-0004)\tWhich of the following is not a responsibility that should be assigned to the audit committee of the board of directors?\tQuestion 13 (CGIC-0018)\tWhich of the following components of internal control are characterized by ongoing activities and separate evaluations?\tQuestion 14 (CGIC-0003)\tWhich of the following can be the most effective monitoring device for effective corporate governance?\tQuestion 15 (CGIC-0002)\tFrom a corporate governance standpoint which of the following best describes the main goal of a form of executive compensation?\tQuestion 16 (CGIC-0019)\tWhich of the following components of internal control encompass policies and procedures that ensure that management’s directives are carried out?\tQuestion 17 (CGIC-0001)\tWhich of the following forms of compensation is more likely to result in shirking by management?\tQuestion 18 (CGIC-0036)\tIn the COSO framework, individuals within the company that monitor internal controls are referred to as\tQuestion 19 (CGIC-0016)\tThe COSO definition of internal control considers control activities a(n):\tQuestion 20 (CGIC-0021)\tIf internal control is properly designed, the same employee should not be permitted to<\/p>\n","protected":false},"excerpt":{"rendered":"
This Tutorial contains More than 150 Question Test Bank (we have listed some of the Questions below) \u00a0 ACC 576 Study Week 6 Which of the following did SOX NOT do to protect whistleblowers? Dan provided original information to authorities Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-200614","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/200614","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=200614"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/200614\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=200614"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=200614"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=200614"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}