Coso Test Questions With Solutions | Premium Verified Expert Solutions

Coso Test Questions With Solutions

Which of the following threatens the independence of an internal

auditor who had


participated in the initial establishment of a risk management

process?


A. Developing assessments and reports on the risk management

process.


B. Managing the identified risks.


C. Evaluating the adequacy and effectiveness of management's risk

processes.


D. Recommending controls to address the risks identified. - Correct

Answer ✔️✔️B


Many organizations use electronic funds transfer to pay their

suppliers instead of

,issuing checks. Regarding the risks associated with issuing checks,

which of the


following risk management techniques does this represent?


A. Controlling.


B. Accepting.


C. Transferring.


D. Avoiding. - Correct Answer ✔️✔️D


Components of enterprise risk management (ERM) are integrated

with the


management process. Which of the following correctly states four of

the eight


components of ERM according to the COSO's framework?


A. Event identification, risk assessment, control activities, and

objective setting.

, B. Internal environment, risk responses, monitoring, and risk

minimization.


C. External environment, information and communication,

monitoring, and event


identification.


D. Objective setting, response to opportunities, risk assessment, and

control


activities. - Correct Answer ✔️✔️A


Which of the following control models is fully incorporated into the

broader


integrated framework of enterprise risk management (ERM)?


A. CoCo.


B. COSO.


C. Electronic Systems Assurance and Control.