IIA IIA-CIA-Part1 Quiz 92 Topic 5 Questions 456-460

Question: 1

Which of the following should be the primary objective of an audit of an entity's business continuity plan?

ACost of testing and updating the plan.

BDelegation of responsibilities for the plan.

CRelationship of the plan to risk exposures.

DEfficiency of the planning procedures.

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Question: 2

Some of a company's payroll transactions were batch posted to the payroll file but were not uploaded correctly to the general ledger file on the mainframe. The best control to detect this type of error would be.

AEdit controls on the payroll file.

BAppropriate segregation of duties for batch approval.

CValidation of hash totals.

DReconciliation of paychecks to the bank account.
Topic 3, Volume C

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Question: 3

Which of the following would be the best example of a monitoring control for a chain of restaurants?

AEach restaurant manager reconciles the cash received with the food orders recorded on the computer.

BAll food orders must be entered through the computer, and there is segregation of duties between the food servers and the cooks.

CCorporate management prepares a detailed analysis of gross margin per restaurant and investigates those showing a significantly lower gross margin.

DProof of bank deposit is transmitted to corporate headquarters on a daily basis.

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Question: 4

Why is the concept of residual risk important?

ABecause residual risk is difficult to measure.

BBecause residual risk is all of the risk that remains after controls are established.

CBecause the cost-benefit analysis supporting control design is part of the measure of residual risk.

DBecause the risk that remains after control design and implementation needs to be acceptable to senior management.

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Question: 5

A major corporation is considering significant organizational changes. Which of the following groups would not be responsible for implementing these changes?

AEmployees.

BSenior management.

CCommon stockholders.

DOutside consultants.

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IIA IIA-CIA-Part1 Quiz:92 Topic:5 Questions:456-460