CIA Part 1: SU3 Governance, Risk
Management, and Control Questions and
Answers 100% Solved
3.1 The IA activity most directly contributes to an org's governance process by
A. identifying significant exposures to risk
B. evaluating the effectiveness of Internal control over financial reporting
C. Promoting continuous improvement of controls
D. Evaluating the design of ethics-related activities Correct Answ_D. Evaluating the design
of ethics-related activities
3.1 Which of the following correctly classifies this corporate governance function as internal or
external?
Internal | External
A. Corporate | Charter Bylaws
B. Laws | Board
C. IA function | Corp Charter
D. Bylaws | Gov Regulation Correct Answ_D. Bylaws Gov Regulation
,3.1 Which of the following is a false statement about the role of IA in an organization's ethical
culture?
A. Roles may include Chief ethics officer
B. The role of chief ethics officer sometimes conflicts with the independence of the IA activity
C. In a more mature system, the IA activity emphasizes compliance
D. In a more mature governance system the IA activity's emphasis is on optimizing structure and
the practices Correct Answ_C. In a more mature system, the IA activity emphasizes
compliance
3.1 Senior Management is primarily responsible for
A. Implementing and monitoring controls designed by the board
B. Ensuring the external auditors oversee risk management and control processes
C. Evaluating the controls over the reliability and integrity of financial and operational
information
D. Determining who will be risk owners Correct Answ_D. Determining who will be risk
owners
, 3.1 Ensuring effective organizational performance management and accountability is more
directly the proper function of
A. Control
B. Governance
C. Risk Management
D. A quality assurance program Correct Answ_B. Governance
The process responsible for ensuring effective org performance management and accountability
3.1 Which of the following is not a goal of corp governance?
A. Complying with society's legal and regulatory rules
B. Providing an overall benefit to society
C. Reporting fully and truthfully to stakeholders
D. Maximizing executive compensation Correct Answ_D. Maximizing executive
compensation
Management, and Control Questions and
Answers 100% Solved
3.1 The IA activity most directly contributes to an org's governance process by
A. identifying significant exposures to risk
B. evaluating the effectiveness of Internal control over financial reporting
C. Promoting continuous improvement of controls
D. Evaluating the design of ethics-related activities Correct Answ_D. Evaluating the design
of ethics-related activities
3.1 Which of the following correctly classifies this corporate governance function as internal or
external?
Internal | External
A. Corporate | Charter Bylaws
B. Laws | Board
C. IA function | Corp Charter
D. Bylaws | Gov Regulation Correct Answ_D. Bylaws Gov Regulation
,3.1 Which of the following is a false statement about the role of IA in an organization's ethical
culture?
A. Roles may include Chief ethics officer
B. The role of chief ethics officer sometimes conflicts with the independence of the IA activity
C. In a more mature system, the IA activity emphasizes compliance
D. In a more mature governance system the IA activity's emphasis is on optimizing structure and
the practices Correct Answ_C. In a more mature system, the IA activity emphasizes
compliance
3.1 Senior Management is primarily responsible for
A. Implementing and monitoring controls designed by the board
B. Ensuring the external auditors oversee risk management and control processes
C. Evaluating the controls over the reliability and integrity of financial and operational
information
D. Determining who will be risk owners Correct Answ_D. Determining who will be risk
owners
, 3.1 Ensuring effective organizational performance management and accountability is more
directly the proper function of
A. Control
B. Governance
C. Risk Management
D. A quality assurance program Correct Answ_B. Governance
The process responsible for ensuring effective org performance management and accountability
3.1 Which of the following is not a goal of corp governance?
A. Complying with society's legal and regulatory rules
B. Providing an overall benefit to society
C. Reporting fully and truthfully to stakeholders
D. Maximizing executive compensation Correct Answ_D. Maximizing executive
compensation
