Question 1

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:

Options :

A : Allocation — ensuring that an appropriate level of funding flows into sectors of the economy where it is required.

B : Legislative consideration

C : Audit and evaluation

D : Growth — using the power of government spending to facilitate economic growth and wealth creation.

Answer: A,B

Question 2

The characteristics of ____________ will vary based on the _____ of the audit unit and the nature of its work. Where as The frequency of required quality assurance reviews varies based on the _____ of standards followed.

Options :

A : Internal quality control systems, size, type

B : External quality control systems, size, type

C : External quality control systems, quality, type

D : Internal quality control systems, length, type

Answer: A

Question 3

The control environment sets the tone of an organization and influences the control consciousness of its employees. The characteristics of an effective control environment are all of the following EXCEPT:

Options :

A : Management communicates the importance of internal controls to all employees.

B : A system is in place to monitor controls on a regular basis

C : Employees are held accountable for their performance.

D : Employees don not have clearly defined responsibilities.

Answer: D

Question 4

The risk analysis process involves all of the following given below EXCEPT:

Options :

A : Identify auditable activities (programs, accounts, contracts, transactions)

B : Estimate the significance of a risk (magnitude of exposure in dollars or other type of measure, type of threat, duration)

C : Do not Estimate the likelihood that a risk will occur and do not determine how to manage the risks.

D : Estimate the likelihood that a risk will occur and prioritize risks.

Answer: C

Question 5

Systems software consists of computer programs and related routines that control computer processing. Control techniques for systems software include all of the following EXCEPT:

Options :

A : Securing dial-up lines for access to computer resources.

B : Setting appropriate system parameters and security options for operating systems.

C : Controlling procurement and maintenance of software licenses.

D : Using the security features of security software effectively.

Answer: A

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