IIA IIA Certifications IIA-CGAP Questions & Answers

• Question 281:

  All of The following are questions auditors may ask when testing controls of safeguards over assets and records please choose the correct option:

  A. Does management provide favorable control environment in the organization?

  B. Does management communicate its support for controls throughout the organization?

  C. Does management establish and maintain effective policies and procedures related to control?

  D. None of the above

  Correct Answer: D

• Question 282:

  Which of the following factors may influence the auditors' assessment of control risk please choose the correct option:

  A. Customer policy regarding such matters as acceptable operating practices and codes of conduct.

  B. Management's awareness or lack of awareness of applicable laws and regulations

  C. Assignment of responsibility and delegation of authority to deal with such matters as organizational goals and objectives, operating functions, and regulatory requirements.

  D. All of the above

  Correct Answer: D

• Question 283:

  A material misstatement is one that the auditor determines would change or influence the opinion of a reasonable person relying on the financial statements for information. Material misstatements may result from the following please choose the correct option:

  A. Misapplication of accounting principles.

  B. Omission of necessary information.

  C. Inaccurate or misleading information.

  D. All of the above.

  Correct Answer: D

• Question 284:

  Beneficiaries are people who may never read the audit report, but whose services are improved because the audit was conducted. All of the Following are examples of beneficiaries EXCEPT:

  A. General public

  B. Clients of the audited program

  C. Clients of the audited program and General public

  D. Special interest groups (e.g., consumer advocacy groups, social service organizations, industry and trade groups, etc.)

  Correct Answer: D

• Question 285:

  Which is the practice that an organization uses when the audit staff does not possess the needed skills, and management may temporally contract with a specialist to perform the needed function?

  A. Accountancy practice

  B. Fraud risk assessment practice

  C. Outsourcing

  D. Control

  Correct Answer: C

• Question 286:

  In what ways Performance auditors provide information to government policymakers?

  A. Developing methods and approaches to evaluate a new or a proposed program

  B. By giving informal reports

  C. Developing conclusions about economy, efficiency, and effectiveness of government programs and making recommendations for improvement.

  D. By not performing investigate work.

  Correct Answer: C

• Question 287:

  All of The following are questions auditors may ask when testing controls of safeguards over assets and records please choose the correct option:

  A. Does management provide a favorable control environment in the organization?

  B. Is confidential or sensitive information kept separate from other records?

  C. None of the above

  D. All of the above

  Correct Answer: B

• Question 288:

  The term _________ refers to the audit procedures deemed necessary in the circumstances to achieve the objective of the audit. The procedures required to conduct an audit in accordance with _________ should be determined by the auditor having regard to the requirements of ISAs, relevant professional bodies, legislation, and regulations:

  A. Scope of an audits, ISAs

  B. Purpose of an audit, PSPs

  C. Principle of an audit, ISAs

  D. Purpose of an audit, ISAs

  Correct Answer: A

• Question 289:

  Which committee of IFAC issues pronouncements aimed at developing and harmonizing public sector financial reporting, accounting, and auditing practices while Public sector refers to national governments, regional (state, provincial, territorial) governments, local (city, town) governments, and related governmental entities (agencies, boards, commissions, and enterprises)?

  A. Ethic's committee

  B. General rules and regulation committee

  C. Public Sector Committee (PSC)

  D. Advisory committee

  Correct Answer: C

• Question 290:

  The auditor should comply with the Code of Ethics for Professional Accountants issued by the International Federation of Accountants. All of the following are the ethical principles governing the auditor's professional responsibilities EXCEPT:

  A. Independence and integrity.

  B. Professional competence and due care and confidentiality.

  C. No confidentiality.

  D. Professional behavior and technical standards

  Correct Answer: C