CFSA Practice Correctly Answered Questions| UpToDate | Already Graded A+

A - An auditor is assigned to audit a business function that the auditor was responsible for nine months ago. B - An individual temporarily assigned to the internal audit activity because of the individual's expert knowledge in a particular business function is assigned to audit an activity that the individual was responsible for just prior to transferring to the internal audit activity. C - An auditor is assigned to perform a post-implementation review on a system for which the auditor participated in the design of controls during the system's design process. D - An auditor is assigned to perform a post-implementation review on a system for which the auditor performed a procedure review and made control recommendations prior to the system's implementation. ☑: D - An auditor is assigned to perform a post-implementation review on a system for which the auditor performed a procedure review and made control recommendations prior to the system's implementation. Compliance testing is designed primarily to: EXCELLENCE 2 A - Hold detection risk to an acceptable level. B - Determine whether policies and procedures have been followed. C - Determine that account balances exist, are accurate, and are properly classified. D - Provide evidence about monetary misstatements. ☑: B - Determine whether policies and procedures have been followed. Which of the following are typical information systems controls that are used to ensure properly authorized transactions? I - Online validation routines that check dollar authority limits. II - Online user access controls. III - Automated balancing and reconciliation routines. IV - Edits that validate full completion of data input fields. A - I and II only B - II and III only C - III and IV only D - I, II, and IV only ☑: A - I and II only Commercial banks create money by: A - Making loans