BEC CPA EXAM QUESTIONS WITH
100% VERIFIED ANSWERS!!
,1 of 48
Definition
ID, Capture, and communication of information throughout the
organization in an effective manner.
-Is Appropriate, Timely, Current, Accurate, and accessible
-Info needed at all levels of org to manage risk
-Strategic/Integrated System = improved tech -> integrate
internal/external comm
-Integrate with operations
-Depth/Timeliness - capture data in level of detail
necessary to make decisions, and in sufficient time to make
difference
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ERM ERM Component - Objective
Component - Risk Response
Setting
ERM Component - Info COSO Component - Control
and Communication Environment
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2 of 48
Definition
Anticipate global requirements. Effective decision support,
efficient transaction processing, Compliance with reporting
objectives
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Agile Methodology -
Project Management Itil Framework - Service Delivery
COBIT Framework -
Iso Standards - Quality Assurance Business
Objectives
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3 of 48
Definition
Entity's identification and analysis of risks
-Specify Objectives --> CREATES OBJECTIVES
-Identify/Analyze risks
-Consider potential fraud
-Identify/assess changes
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ERM Component - COSO Component - Existing
Internal Environment Control Activities
COSO Component - COSO Component -
Information and Risk Assessment
Communication
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, 4 of 48
Definition
Set forth by entity's policies and procedures to ensure
management directives are in place
-Select/Develop I/C activities,
-Technology controls
-Deploy through policy/procedure
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COSO Component -
COSO Components of I/C Control Environment
COSO Component - COSO Component -
Monitoring Activities Existing Control Activities
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5 of 48
Definition
- Involve auditor's objective assessment of evidence to
provide an independent opinion regarding an entity,
operation, function,
process, system, or other subject
- Nature and scope of assurance engagement
Give this one a try later!
100% VERIFIED ANSWERS!!
,1 of 48
Definition
ID, Capture, and communication of information throughout the
organization in an effective manner.
-Is Appropriate, Timely, Current, Accurate, and accessible
-Info needed at all levels of org to manage risk
-Strategic/Integrated System = improved tech -> integrate
internal/external comm
-Integrate with operations
-Depth/Timeliness - capture data in level of detail
necessary to make decisions, and in sufficient time to make
difference
Give this one a try later!
ERM ERM Component - Objective
Component - Risk Response
Setting
ERM Component - Info COSO Component - Control
and Communication Environment
Don't know?
2 of 48
Definition
Anticipate global requirements. Effective decision support,
efficient transaction processing, Compliance with reporting
objectives
, Give this one a try later!
Agile Methodology -
Project Management Itil Framework - Service Delivery
COBIT Framework -
Iso Standards - Quality Assurance Business
Objectives
Don't know?
3 of 48
Definition
Entity's identification and analysis of risks
-Specify Objectives --> CREATES OBJECTIVES
-Identify/Analyze risks
-Consider potential fraud
-Identify/assess changes
Give this one a try later!
ERM Component - COSO Component - Existing
Internal Environment Control Activities
COSO Component - COSO Component -
Information and Risk Assessment
Communication
Don't know?
, 4 of 48
Definition
Set forth by entity's policies and procedures to ensure
management directives are in place
-Select/Develop I/C activities,
-Technology controls
-Deploy through policy/procedure
Give this one a try later!
COSO Component -
COSO Components of I/C Control Environment
COSO Component - COSO Component -
Monitoring Activities Existing Control Activities
Don't know?
5 of 48
Definition
- Involve auditor's objective assessment of evidence to
provide an independent opinion regarding an entity,
operation, function,
process, system, or other subject
- Nature and scope of assurance engagement
Give this one a try later!
