ACC 312G - Exam #1
(130 fully solved
questions )
An internal auditor who knowingly is a party to an
illegal activity violates which rule of conduct? -
answer Integrity
An internal auditor who accepts anything that may
impair his or her independence violates which rule
of conduct? - answer Objectivity
An internal auditor who does not continue to
improve her or his proficiency violates which rule
of conduct? - answer Competency
An internal auditor who uses information for
personal gain violates which rule of conduct? -
answer Confidentiality
An internal auditor who does not disclose all
material facts violates which rule of conduct? -
answer Objectivity
,Which is not part of the mandatory guidance for
the International Professional Practices
Framework? - answer Implementation Guidance
Which is not part of the Definition of Internal
Auditing? - answer Confidentiality
If the first digit of a Standard is 2, what type of
standard is it? - answer Performance
What type of Standard is 2410.C1? - answer
Performance Consulting
Which is NOT one of the Core Principles for the
Professional Practice of Internal Auditing? - answer
Provides error free judgment
Which is not true regarding the Okurasho? -
answer The group controlled Japan's stock market.
Which is not true regarding the Ministry of Finance
(MOF)? - answer They were not held responsible
for huge government bailouts.
, Low audit fees in Japan resulted in all of the
following EXCEPT: - answer Improved profitability
for Japanese firms.
Some Japanese auditors subordinated their
judgment to others due to all of the following
EXCEPT: - answer Low audit fee payments.
All of the following led to a credibility crisis for
Japan's independent audit function EXCEPT: -
answer New regulatory structure for the public
accounting profession.
The internal audit activity must evaluate the
effectiveness and contribute to the improvement of
risk management processes. (T/F) - answer True
Determining whether risk management processes
are effective is a judgment resulting from the
internal auditor's assessment of all of the following
EXCEPT: - answer All risks have effective controls.
Risk management processes are monitored
through: - answer Both ongoing management
activities and separate evaluations.
(130 fully solved
questions )
An internal auditor who knowingly is a party to an
illegal activity violates which rule of conduct? -
answer Integrity
An internal auditor who accepts anything that may
impair his or her independence violates which rule
of conduct? - answer Objectivity
An internal auditor who does not continue to
improve her or his proficiency violates which rule
of conduct? - answer Competency
An internal auditor who uses information for
personal gain violates which rule of conduct? -
answer Confidentiality
An internal auditor who does not disclose all
material facts violates which rule of conduct? -
answer Objectivity
,Which is not part of the mandatory guidance for
the International Professional Practices
Framework? - answer Implementation Guidance
Which is not part of the Definition of Internal
Auditing? - answer Confidentiality
If the first digit of a Standard is 2, what type of
standard is it? - answer Performance
What type of Standard is 2410.C1? - answer
Performance Consulting
Which is NOT one of the Core Principles for the
Professional Practice of Internal Auditing? - answer
Provides error free judgment
Which is not true regarding the Okurasho? -
answer The group controlled Japan's stock market.
Which is not true regarding the Ministry of Finance
(MOF)? - answer They were not held responsible
for huge government bailouts.
, Low audit fees in Japan resulted in all of the
following EXCEPT: - answer Improved profitability
for Japanese firms.
Some Japanese auditors subordinated their
judgment to others due to all of the following
EXCEPT: - answer Low audit fee payments.
All of the following led to a credibility crisis for
Japan's independent audit function EXCEPT: -
answer New regulatory structure for the public
accounting profession.
The internal audit activity must evaluate the
effectiveness and contribute to the improvement of
risk management processes. (T/F) - answer True
Determining whether risk management processes
are effective is a judgment resulting from the
internal auditor's assessment of all of the following
EXCEPT: - answer All risks have effective controls.
Risk management processes are monitored
through: - answer Both ongoing management
activities and separate evaluations.
