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Q: 11
Forty-five percent of an organization's customer payments are submitted online. Eight percent of online payments are rejected. Executive management decides to outsource its online payment services to a contractor that will assume 75 percent of the total value of rejected payments. The organization estimates $1.25 million customer payments due during the contract period. Which of the following represents the organization's residual risk for online customer payments due?
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Q: 12
The chief audit executive (CAE) of a small internal audit activity (IAA) performs all high-risk engagements on the annual audit plan to make use of his knowledge and experience and to maximize the efficient use of audit resources. Which of the following statements is most relevant regarding this practice?
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Q: 13
A new director was hired to lead the internal audit activity at a small start-up company. Which of the following assignments would impair the director's independence?
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Q: 14
Where complex problems need to be addressed, which of the following communication networks would be most appropriate?
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Q: 15
According to the ISO 14001 standard, which of the following is not included in the requirements for a quality management system?
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Q: 16
Which of the following application software features is the least effective control to protect passwords?
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Q: 17
The internal audit activity completed an initial risk analysis of the organization's data storage center and found several areas of concern. Which of the following is the most appropriate next step?
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Q: 18
Which of the following is not a method for implementing a new application system?
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Q: 19
Which of the following control methods is effective in reducing the risk of purchasing-scheme fraud? 1. Periodically reviewing the vendor list for unusual vendors and addresses. 2. Segregating duties for amount purchasing, receiving, shipping, and accounting. 3. Validating sequential integrity of purchase orders. 4. Verifying the validity of invoices with post office box addresses.
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Q: 20
A small furniture-manufacturing firm with 100 employees is located in a two-story building and does not plan to expand. The furniture manufactured is not special-ordered or custom-made. The most likely structure for this organization would be:
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Question 11 of 20 · Page 2 / 2

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