CIA Part 1 || with 100% Error-free Answers.

Strategic direction determines correct answers (1) the business model, (2) overall objectives, (3) the risk appetite, (4) the limits of organizational conduct. Planning assessments of governance considerations: correct answers 1. An audit should address controls in governance processes that are designed to prevent or detect events that could have a negative effect on the organization; 2. Controls within governance processes are often significant in managing multiple risks; 3. If other audits assess controls in governance processes, the auditor should consider relying on their results. Section 302 of the Sarbanes-Oxley Act of 2002 (SOX) requires the CEO and CFO, in every annual or quarterly filing with the SEC, to certify: correct answers 1. That they have taken responsibility for the system of internal control. 2. That they have evaluated the effectiveness of the system of internal control. 3. That to the best of their knowledge, the financial statements are free of material misstatements Reasoning behind the passage of the Occupational Safety and Health Act of 1970 correct answers Address changing attitudes about the treatment of employees in the workplace OSHA correct answers Investigates complaints, conducts inspections, and has developed numerous procedures to encourage compliance. It was created to administer the Occupational Safety and Health Act of 1970 ISO 14000 correct answers is a set of criteria established by the International Organization for Standardization for an environmental management system. This system is not required but provides standards for implementing and maintaining environmental management systems. Additionally, such systems provide lower costs and improve corporate image. The board of directors is responsible for: correct answers (1) selecting and removing officers; (2) making decisions about capital structure; (3) adding, amending, or repealing bylaws; (4) initiating fundamental changes; (5) declaring and distributing dividends; (6) setting management compensation; (7) coordinating audit activities; (8) evaluating and managing risk. Shareholders can elect or remove directors at the annual meeting. Governance correct answers combination of people, policies, procedures, and processes that help ensure that an entity effectively and efficiently directs its activities toward meeting the objectives of its stakeholders.