BCF 110 Module 10 EXECUTION EXAM PART 3:
Reporting and Audit Readiness fully solved
already passed
1. support significant business process- -Enterprise Resource
Systems
es for various DoD reporting entities and (ERPs)
have contributed to longstanding material -Business Systems
weakness in financial reporting. -Financial Systems
-*Legacy Systems*
2. The development of is the -*Corrective Action Plans
responsi- bility of the reporting entity (CAPs)*
and service provider mangers. These -External Controls
should be developed for all ma- terial -The Manager`s Internal Control
weaknesses and documentation gaps. Program (MICP)
-Financial Operation Plans
(FOPs)
3. establishes control standards,
along -Agency Statement of
Assurance
with comprehensive roles and responsibilities for -Risk Mitigation
all stakeholders to use when completing Cost Report
their MICP deliverables. (UCR) is on
variances in cost
rather than on a
variance of
4. The financial statement audit consist of schedule or
four phases. During this phase, a performance.
significant amount of time and effort is
devoted to understand- ing the 6. The Selected
reporting entity and the environment in Acquisition
which it operates: Report (SAR)
provides the
5. True or False. The major focus of the Unit
1/
7
, BCF 110 Module 10 EXECUTION EXAM PART 3:
Reporting and Audit Readiness fully solved
already passed
status of ? (Select three) -Financial Improvement Audit
Readiness (FIAR)
-*The Manager`s Internal
Control Program (MICP)
policy*
-Internal Control Phase
-Testing Phase
-*Planning Phase*
-Reporting Phase
-*True*
-False
-*Schedule*
-*Performance*
2/
7
Reporting and Audit Readiness fully solved
already passed
1. support significant business process- -Enterprise Resource
Systems
es for various DoD reporting entities and (ERPs)
have contributed to longstanding material -Business Systems
weakness in financial reporting. -Financial Systems
-*Legacy Systems*
2. The development of is the -*Corrective Action Plans
responsi- bility of the reporting entity (CAPs)*
and service provider mangers. These -External Controls
should be developed for all ma- terial -The Manager`s Internal Control
weaknesses and documentation gaps. Program (MICP)
-Financial Operation Plans
(FOPs)
3. establishes control standards,
along -Agency Statement of
Assurance
with comprehensive roles and responsibilities for -Risk Mitigation
all stakeholders to use when completing Cost Report
their MICP deliverables. (UCR) is on
variances in cost
rather than on a
variance of
4. The financial statement audit consist of schedule or
four phases. During this phase, a performance.
significant amount of time and effort is
devoted to understand- ing the 6. The Selected
reporting entity and the environment in Acquisition
which it operates: Report (SAR)
provides the
5. True or False. The major focus of the Unit
1/
7
, BCF 110 Module 10 EXECUTION EXAM PART 3:
Reporting and Audit Readiness fully solved
already passed
status of ? (Select three) -Financial Improvement Audit
Readiness (FIAR)
-*The Manager`s Internal
Control Program (MICP)
policy*
-Internal Control Phase
-Testing Phase
-*Planning Phase*
-Reporting Phase
-*True*
-False
-*Schedule*
-*Performance*
2/
7
