Online Access Free IIA-CGAP Practice Test

Enterprise risk management enables management to effectively deal with uncertainty and associated risk and opportunity, enhancing the capacity to build value. Value is maximized when management sets strategy and objectives to strike an optimal balance between growth and return goals and related risks, and efficiently and effectively deploys resources in pursuit of the entity's objectives. Enterprise risk management encompasses al of the following EXCEPT:

• A.Enhancing risk response decisions and Seizing opportunities
• B.Risk Assessment
• C.Reducing operational surprises and losses
• D.Aligning risk appetite and strategy

Embedded controls over purchase cards can include all of the following EXCEPT:

• A.Transaction limits per day/per month.
• B.Types of transactions (prohibiting cash advances, personal items, etc.).
• C.Minimum dollars per transaction.
• D.Monthly cardholder dollar limit.

Managers must measure and track performance because citizens and legislative bodies are increasingly demanding evidence of the appropriate use of public resources and the achievement of public goals. Auditors must understand performance measurement because their audit objectives may call for independent measurement of organizational performance.

• A.organizers, leaders
• B.planners, organizers
• C.Managers, Auditors
• D.Auditors, Managers

The form and content of written policies and procedures should be appropriate to the size and structure of the auditing department and the complexity of its work. Formal administrative and technical audit manuals help employees to consistently comply with established performance standards. Then who is responsible for developing and maintaining written policies and procedures to guide audit staff?

• A.A director or chief
• B.The head of the audit unit
• C.Audit staff
• D.The head of the department

All budgets, whether national, regional, or local, should be tied to specific objectives. All government revenue raising and spending should fall into one of the following objectives given below please choose the correct option:

• A.Audit and evaluation
• B.Growth - Using the power of government spending to facilitate economic growth and wealth creation.
• C.Allocation - ensuring that an appropriate level of funding flows into sectors of the economy where it is required.
• D.Legislative consideration