According to the ISO 14001 standard, which of the following is not included in the requirements for a quality management system?
A. Key processes across the entity which impact quality must be identified and included.
B. The quality management system must be documented in the articles of incorporation, quality manual, procedures, work instructions, and records.
C. Management must review the quality policy, analyze data about quality management system performance, and assess opportunities for improvement and the need for change.
D. The entity must have processes for inspections, testing, measurement, analysis, and improvement.
Which of the following phases of a business cycle are marked by an underuse of resources?
1.
The trough.
2.
The peak.
3.
The recovery.
4.
The recession.
A. 1 and 3 only
B. 1 and 4 only
C. 2 and 3 only
D. 2 and 4 only
Which of the following are appropriate reasons for internal auditors to document processes as part of an audit engagement?
1.
To determine areas of primary concern.
2.
To establish a standard format for process mapping.
3.
To define areas of responsibility within the organization.
4.
To assess the performance of employees.
A. 1 and 2 only
B. 1 and 3 only
C. 2 and 3 only
D. 2 and 4 only
Which of the following should an organization consider when developing strategic objectives for its business processes?
1.
Contribution to the success of the organization.
2.
Reliability of operational information.
3.
Behaviors and actions expected of employees.
4.
How inputs combine with outputs to generate activities.
A. 1 and 2 only
B. 1 and 3 only
C. 2 and 4 only
D. 3 and 4 only
An internal auditor has been asked to conduct an investigation involving allegations of independent
contractor fraud.
Which of the following controls would be least effective in detecting any potential fraudulent activity?
A. Exception report identifying payment anomalies.
B. Documented policy and procedures.
C. Periodic account reconciliation of contractor charges.
D. Monthly management review of all contractor activity.
According to the Standards, which of the following is based on the assertion that the quality of an organization's risk management process should improve with time ?
A. Process element.
B. Key principles.
C. Maturity model.
D. Assurance.
In order to provide useful information for an organization's risk management decisions, which of the following factors is least important to assess?
A. The underlying causes of the risk.
B. The impact of the risk on the organization's objectives.
C. The risk levels of current and future events.
D. The potential for eliminating risk factors.
Which of the following statements about COBIT is not true?
A. COBIT helps management understand and manage the risks associated with information technology (IT) processes.
B. Management needs to determine the cost-benefit ratio of adopting COBIT control objectives.
C. COBIT control objectives are specific to various IT platforms and help determine minimum controls.
D. COBIT provides management with the capability to conduct self-assessments against industry best practices.
Which of the following are typical responsibilities for operational management within a risk management program?
1.
Implementing corrective actions to address process deficiencies.
2.
Identifying shifts in the organization's risk management environment.
3.
Providing guidance and training on risk management processes.
4.
Assessing the impact of mitigation strategies and activities.
A. 1 and 2 only
B. 1 and 4 only
C. 2 and 3 only
D. 3 and 4 only
The most important reason to use risk assessment in audit planning is to:
A. Identify redundant controls.
B. Improve budgeting accuracy.
C. Enhance assurance provided to management.
D. Assist in developing audit programs.
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