Question 21
Which of the following descriptions of the internal control system are indicators that risks are managed effectively?
1. Existing controls promote compliance with applicable laws and regulations.
2. The control environment is designed to address all identified risks to the organization.
3. Key controls for significant risks to the organization remain consistent over time.
4. Monitoring systems are in place to alert management to unexpected events.
1. Existing controls promote compliance with applicable laws and regulations.
2. The control environment is designed to address all identified risks to the organization.
3. Key controls for significant risks to the organization remain consistent over time.
4. Monitoring systems are in place to alert management to unexpected events.
Question 22
In recording transactions, which of the following best describes the relation between expenses and losses?
Question 23
The process of making sure that the model measures what it is supposed to measure is called:
Question 24
Which of the following "families" of controls is not described in The IIA's Global Technology Audit Guide (GTAG) 1, titled information Technology Controls?
Question 25
While reviewing the contracts for a large city, the internal auditor learns that the organization contracted to perform trash collection is paid based on the number of bins emptied each week as a result, the city has minimal control over payments Which of the following actions should the auditor recommend to give the city greater control over payments?