Internal Auditing Exam Questions
Course Introduction
Internal Auditing is a comprehensive course designed to introduce students to the principles and practices of internal audit functions within organizations. The course covers fundamental concepts such as risk assessment, internal control systems, audit planning, and the evaluation of operational effectiveness. Students will learn about audit methodologies, standards, and frameworks, including the International Standards for the Professional Practice of Internal Auditing (ISPPIA). Through case studies and practical assignments, learners will develop the skills necessary to conduct audits, detect fraud, provide recommendations for improvement, and contribute to effective governance, risk management, and compliance processes within a business environment.
Recommended Textbook
Accounting Information Systems 10th Edition by Ulric J. Gelinas
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17 Chapters
2313 Verified Questions
2313 Flashcards
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Chapter 1: Introduction to Accounting Information Systems
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122 Verified Questions
122 Flashcards
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Sample Questions
Q1) Deciding how much credit to grant to a customer is a structured decision.
A)True
B)False
Answer: True
Q2) ____ requires information to assess the environment and to project future events and conditions.
A) Strategic management
B) Tactical management
C) Operations management
D) Operations and business event processing
Answer: A
Q3) Software packages that can be used for the core systems necessary to support enterprise systems are called ______________________________.
Answer: enterprise resource planning (ERP)systems
enterprise resource planning systems
ERP systems
Q4) ______________________________ is the correspondence or agreement between the information and the actual events or objects that the information represents.
Answer: Accuracy
Page 3
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Chapter 2: Enterprise Systems
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141 Verified Questions
141 Flashcards
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Sample Questions
Q1) The ______________________________ of the value chain are those that provide infrastructure and include functions such as procurement,information technology,human resources and accounting.
Answer: supporting activities
Q2) The correct sequence of elements leading to an "available to promise" (ATP)is
A) item availability,customer creditworthiness,price
B) customer creditworthiness,price,item availability
C) price,customer creditworthiness,item availability
D) item availability,price,customer creditworthiness
Answer: D
Q3) A basic unit of data such as a letter,number,or special character is known as a A) Character
B) Field
C) Record
D) Table
Answer: A
Q4) Customer self service (CSS)software is often an extension of CRM software.
A)True
B)False
Answer: True
Page 4
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Chapter 3: Electronic Business E-Business-Systems
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121 Verified Questions
121 Flashcards
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Sample Questions
Q1) Which of the following is not a benefit of electronic data interchange (EDI)?
A) enables continued business with certain business partners
B) improved responsiveness to customers' needs
C) providing timely and accurate data
D) training employees
Answer: D
Q2) Cloud computing is the use of the Internet to provide scalable services,such as software,and resources,such as data storage,to users.
A)True
B)False
Answer: True
Q3) In Electronic Data Interchange (EDI),the software that includes the purchasing system at the origin and the order entry system at the destination is known as A) translation software
B) value-added network (VAN)
C) the communications network
D) application software
Answer: D
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5
Chapter 4: Documenting Information Systems
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124 Flashcards
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Sample Questions
Q1) In a data flow diagram (DFD),a(n)______________________________ symbol depicts an entity or a process within which incoming data flows are transformed into outgoing data flows.
Q2) Data entering from outside a system is depicted on a data flow diagram (DFD)as coming from a(n)______________________________ entity.
Q3) Which of the following is the least detailed of the data flow diagrams?
A) logical data flow diagram
B) systems flowchart
C) context diagram
D) physical data flow diagram
Q4) A physical data flow diagram (DFD)uses bubbles to specify where,how,and by whom a system's processes are accomplished.
A)True
B)False
Q5) A(n)______________________________ is a graphical representation of a system showing the system processes,data stores,and flows of data into and out of the processes and data stores.
Q6) A(n)______________________________ is a person,place,or thing within the system that transforms data.
Page 6
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Chapter 5: Database Management Systems
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175 Verified Questions
175 Flashcards
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Sample
Questions
Q1) In the ______________________________ to business event processing,each application collects and manages its own data.
Q2) A company uses a 7-digit number to identify customers.For example,the customer 1532789 indicates the following information:
Digits 1-2,state,15 = Georgia
Digit 3,type of organization,3 = government agency Digit 4,credit terms,2 = 2/10,n/30
Digits 5-7,unique customer identifier,789
This type of coding scheme is:
A) hierarchical
B) block
C) significant digit
D) sequential
Q3) In a(n)____ database model,data are logically organized into two-dimensional tables.
A) hierarchical
B) relational
C) network
D) object-oriented
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Chapter 6: Relational Databases and SQL
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102 Verified Questions
102 Flashcards
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Sample Questions
Q1) Which of the following is a composite attribute?
A) Client
B) client number
C) client name
D) client street address
Q2) The cardinality constraint is used to specify both the minimum and maximum participation of one entity in the relationship with the other entity.
A)True
B)False
Q3) Which of the following is the entity or agent?
A) Client
B) client number
C) client name
D) client street address
Q4) Attributes that consist of multiple subattributes are referred to as ______________________________.
Q5) A(n)______________________________ is a primary key that is inserted into other tables to establish links among the tables.
Q6) Queries of a database are driven by ______________________________ commands.
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Chapter 7: Controlling Information Systems: Introduction to
Enterprise Risk Management and Internal Control
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159 Verified Questions
159 Flashcards
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Sample Questions
Q1) A computer crime technique called worm involves the systematic theft of very small amounts from a number of bank or other financial accounts.
A)True
B)False
Q2) ______________________________ is a process,effected by an entity's board of directors,management and other personnel,applied in strategy settings and across the enterprise,designed to identify potential events that may affect the entity,and manage risk to be within its risk appetite,to provide reasonable assurance regarding the achievement of entity objectives.
Q3) Assuring that the accounts receivable master data reflects all cash collections recorded in the cash receipts event data addresses the control goal of:
A) ensure input accuracy
B) ensure input completeness
C) ensure update accuracy
D) ensure update completeness
Q4) A computer abuse technique called ______________________________ involves a program that replicates itself on disks,in memory,and across networks.
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Chapter 8: Controlling Information Systems: Introduction to Pervasive Controls
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159 Verified Questions
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Sample Questions
Q1) Combining the functions of authorizing and executing events is a violation of the organizational control plan known as ______________________________.
Q2) Which of the following controls restrict access to programs,data,and documentation?
A) library controls
B) password controls
C) authentication controls
D) program change controls
Q3) ______________________________ is when a hacker calls and requests a password based on some pretext.
Q4) Which of the following statements is true?
A) Management has a legal responsibility to protect an organization's informational assets.
B) Proper protection of organizational information from unauthorized use required both physical and logical controls.
C) The unauthorized disclosure of financial information is a violation of federal securities laws.
D) All of the above.
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Q5) COBIT 5 has two main components: five _____________ and seven ________________.
Chapter 9: Controlling Information Systems: Business
Process and Application Controls
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134 Verified Questions
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Sample Questions
Q1) With preformatted screens a computer system asks the user for input or asks questions that the user must answer.
A)True
B)False
Q2) For the control plan ______________________________ a data entry clerk enters an identification number,such as a customer number,and then examines the master data record displayed by the computer to determine that the correct identification number has been entered.
Q3) A(n)______________________________ can be applied to prenumbered documents to determine that all documents have been processed and that no extra documents have been processed.
Q4) The edit that compares calculations performed manually with those performed by the computer to determine if a document has been entered correctly is referred to as
Q5) When a clerk enters the identification code for an entity,such as a customer,and the system retrieves data about that entity from the master data,we have the control plan called ______________________________.
Page 11
Q6) A(n)______________________________ check is a variation of a limit check.
Q7) In the control matrix the P stands for ______________________________ controls.
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Chapter 10: The Order Entrysales Oesprocess
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133 Verified Questions
133 Flashcards
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Sample Questions
Q1) The order entry/sales (OE/S)process includes the first four steps in the ______________________________ process.
Q2) The OE/S process helps support the decision needs of the accounting department.
A)True
B)False
Q3) The file most important for ensuring validity of customer order inputs is the:
A) customer master data
B) accounts receivable master data
C) marketing data
D) completed picking ticket data
Q4) One of the primary functions of the ______________________________ is to create information flows which support the repetitive work routines of the sales order,shipping,and credit departments.
Q5) Sales-force automation software may be used to route calls to a particular sales representative who has previously worked with the customer.
A)True
B)False
Q6) In the ER diagram for OE/S,STOCK_PICK triggers
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Q7) In the ER diagram for OE/S,SHIPMENTS generates
Chapter 11: The Billingaccounts Receivablecash Receipts
Barcrprocess
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134 Verified Questions
134 Flashcards
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Sample Questions
Q1) When customers pay with a(n)______________________________ card,float is eliminated.
Q2) Quantities of items shipped to a customer would typically be found in the relational table for:
A) CUSTOMERS
B) SALES_RELATIONS
C) BANKS
D) DEPOSITS
Q3) The B/AR/CR system supports the repetitive work routines of the credit department,the cashier,and the accounts receivable department.
A)True
B)False
Q4) ______________________________ is a fraud resulting from the improper segregation of duties between the functions of handling cash and recording cash receipt events.
Q5) ______________________________ systems are B2C systems that use a Web site to post customers' bills and to receive their electronic payments.
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Q6) Funds on deposit and available for use are known as ______________________________ funds.
Chapter 12: The Purchasing Process
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Sample Questions
Q1) Which type of supply chain collaboration methods includes collaborative processes across the supply chain using a set of processes and technology models?
A) Continuous Replenishment (CRP)or Vendor Managed Inventory (VMI)
B) Co-Managed Inventory
C) Collaborative Forecasting and Replenishment (CFAR)
D) Collaborative Planning,Forecasting and Replenishment (CPFR)
Q2) Which of the following is a technique for ranking items in a group based on the value,activity,sales,or other relevant metric for the items?
A) cyclical reordering
B) reorder point analysis
C) EOQ models
D) ABC analysis
Q3) The purchasing process-receive goods and services-normally would be triggered by the data flow:
A) purchase order
B) vendor acknowledgement
C) vendor packing slip
D) purchase requisition
Q4) In many organizations ______________________________ do the actual buying.
Page 15
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Chapter 13: The Accounts Payablecash Disbursements
Apcdprocess
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118 Verified Questions
118 Flashcards
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Sample Questions
Q1) The resources for which the AP/CD process wants to ensure security typically do not include:
A) cash
B) accounts payable master data
C) accounts receivable master data
D) All of the above are included in resources for which the AP/CD process wants to ensure security.
Q2) A key control in the AP/CD process is to segregate the treasurer and controller.
A)True
B)False
Q3) The vendor invoice triggers the "establish payable" process. A)True
B)False
Q4) The ______________________________ triggers the "establish payable" process.
Q5) The trigger for either a true voucher process or a nonvoucher process is a payment request.
A)True B)False
Q6) The ______________________________ data shows,in chronological sequence,the details of each cash payment made. Page 16
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Chapter 14: The Human Resources Process Hrmanagement and
Payroll Processes
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121 Flashcards
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Sample Questions
Q1) Which of the following is not one of the HR related events performed by the HR management process?
A) selecting employees
B) paying employees
C) evaluating employees
D) terminating employees
Q2) Which of the following is processed in batches?
A) HR activities
B) Payroll
C) both a and b
D) neither a or b
Q3) Payroll is typically processed in the ______________________________ mode.
Q4) Updates of the tax rates data are stored in:
A) tax rates data
B) employee/payroll master data
C) HR master data
D) GL master data
Q5) Moving from bi-weekly to monthly payroll can reduce costs by 30 to 50 percent. A)True B)False Page 18
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Chapter 15: Integrated Production Processes IPP
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Sample Questions
Q1) The Level 0 data flow diagram for the integrated production process includes all of the following process bubbles except:
A) design product and production processes
B) generate master distribution schedule
C) determine needs for materials
D) record manufacturing events
Q2) The implementation features of just-in-time (JIT)manufacturing typically include all of the following except:
A) arranging the factory in work cells
B) assigning each worker to a single machine
C) allowing workers to stop the production line
D) requiring that the daily production schedule remain fairly constant
Q3) An assembly line manufacturing system is a highly automated computer integrated manufacturing system that has its goal of achieving the ability to quickly produce wide varieties of products using the same equipment.
A)True
B)False
Q4) With the pull approach to manufacturing,factory machinery is arranged in
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Chapter 16: The General Ledger and Business Reporting
Glbrprocess
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Sample Questions
Q1) The intent of the Sarbanes-Oxley Act of 2002 is to protect the company by improving the accuracy and reliability of all corporate disclosures made pursuant to the securities laws.
A)True
B)False
Q2) Finalized budget figures are sent to the GL/BR process by:
A) the financial reporting officer
B) the budgeting department
C) the treasurer
D) the managerial reporting officer
Q3) The managerial reporting officer is responsible for preparing performance reports.
A)True
B)False
Q4) Typically,you would expect general ledger updates for financing and investing activities to be fed to the GL/BR process by:
A) the controller
B) the treasurer
C) the chief executive officer (CEO)
D) one of the AIS feeder systems
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Chapter 17: Acquiring and Implementing Accounting Information Systems
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Sample Questions
Q1) Structured systems design is a set of procedures performed to convert the logical specification into a design that can be implemented on the organization's computer system.
A)True
B)False
Q2) A(n)______________________________ offers a traditional outsourcing mechanism whereby it hosts,manages,and provides access to application software and hardware over the Internet to multiple customers.
Q3) Which development phase has the task of post-implementation review?
A) analysis
B) design
C) implementation
D) operation
Q4) The logical specification,physical requirements,and budget and schedule are all part of the systems analysis deliverable called a(n)______________________________.
Q5) ______________________________ review the acquisition cycle and assess if and how internal controls have been impacted.
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Q6) Discuss four ways that an accountant is often involved with the AIS acquisition?