QuestionQuestion 13 / 3 pts(TCO 5) Which of the following is responsible for establishing a private company’s internal control?ManagementAuditorsManagement and auditorsCommittee of Sponsoring OrganizationsQuestion 23 / 3 pts(TCO 5) Which section of the Sarbanes-Oxley Act requires management to issue an internal control report?202203404408Question 33 / 3 pts(TCO 5) Which of management’s concerns with respect to implementing internal controls is the auditor primarily concerned?Efficiency of operationsReliability of financial reportingEffectiveness of operationsCompliance with applicable laws and regulationsQuestion 43 / 3 pts(TCO 5) Even with the most effectively designed internal control, the auditor must obtain audit evidence, beyond testing the controls, for everytransaction.financial statement account.material financial statement account.financial statement account that will be relied upon by third parties.Question 53 / 3 pts(TCO 5) Which of the following is correct?A significant deficiency is always a material weakness.A reportable condition is always a material weakness.A material weakness is less significant that a control deficiency.A significant deficiency may be a material weakness.Question 63 / 3 pts(TCO 10) Which of the following is not a risk to IT systems?Need for IT experienceSeparation of IT dutiesImproved audit trailHardware and data vulnerabilityQuestion 73 / 3 pts(TCO 10) The extent to which IT duties are separated in an organization depends onthe organization’s size.the organization’s complexity.both A and B.neither A nor B.Question 83 / 3 pts(TCO 10) Which of the following is a category of general controls?Processing controlsOutput controlsPhysical and online securityInput controlsQuestion 93 / 3 pts(TCO 10) A control that relates to all parts of the IT system is called a(n)general control.systems control.universal control.applications control.Question 103 / 3 pts(TCO 10) Which of the following is not an example of an application control?An equipment failure causes system downtime.There is a preprocessing authorization of the sales transactions.There are reasonableness tests for the unit selling price of a sale.After processing, all sales transactions are reviewed by the sales department.
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