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The purpose of _________ is to establish the criteria or overall framework for the purposeful, systematic, and balanced steps or actions that the auditor has to follow. And they are related to the general____________, which set out the basic requirements for undertaking the tasks covered by the field standards:
Most governments have some form of a centralized budgeting agency. All of the following are areas addressed by budget offices EXCEPT:
All of the following are the Specific aspects of proper audit supervision EXCEPT:
________can be defined as Contractual agreements can end either naturally (i.e., by reaching the termination date or delivery of the final product) or by other means. Where as ______can be define as the contractor shall maintain adequate accounting records and supporting documents to verify the amounts, recipients, and uses of all payments and funds received in conjunction with the contract for a designated period of time:
Primary customers are those individuals or groups that sponsor the audit. All of the following are examples of primary customers EXCEPT:
Government entities generally have the authority and responsibility to issue and require adherence to their policies and regulations relating to contracts. Accounting and control considerations for contracts include the following given below please choose the correct option:
The integrity violations policy should be developed based on input from the chief executive officer and the heads of the following departments: fiscal, information processing, legal, and security. Integrity violations policies should do all of the following given below please choose the correct option:
Which institution plays a major role in auditing government accounts and operations and in promoting sound financial management and accountability in their governments?
Debt Service Fund is Money set aside to meet current and future debt service requirements are placed in debt service funds. Where as Capital Projects Fund can be defined as the funds that Governments often prefer to account for significant capital expenditures separately from their regular operations.
What type of reviews are designed to determine whether the audit unit’s internal quality control system is in place and operating effectively to provide reasonable assurance that established policies and procedures and applicable auditing standards are being followed or not?
Risk assessment allows organizations to identify potential effects and their significance. Management should continually monitor and assess potential risks that could keep the organization from achieving its goals in all of the following key areas EXCEPT:
_______considers the processes associated with the program or factors in the program environment to determine which components adversely affect effectiveness or do not add value to the program’s goals.
_________attempts to use strategic planning to set the mission, goals, and objectives of programs; measure programs’ outcomes; and set benchmarks to be met by programs.
Privatization can be defined as the process of returning to the private sector property or functions previously owned or performed by government. All of the Following are basic forms of government privatization EXCEPT:
_____________involves interviews, observations, and inspections appropriate to the audit objectives. Auditors often design tests of specific management controls based on information gained in previous audits:
Following are the arenas of services into which a government might enter please choose the correct option:
__________ are the Services rendered by persons who are members of a particular profession or possess a special skill and who are not officers or employees of the contractor. Where as _______ are indefinite delivery requirement contracts for transportation or for transportation related services.
Governmental auditing is distinctive and encompasses different requirements from auditing commercial or not-for-profit enterprises. The standards that apply specifically to government audits are all of the following EXCEPT:
Groups may be informal (e.g., peer groups) or formal (e.g., work groups defined by management). Members of the group can have either assigned or adopted roles. Groups also develop a set of norms, or accepted standards of behavior, which group members are expected to follow.
Financial management in the public sector differs significantly from its private-sector counterpart. The foundation of the public financial management system is based on the following principles EXCEPT:
_________ are a contracting method employing competitive undisclosed bids, public bid opening, and awards contracts when:
Consulting services are advisory in nature, and are generally performed at the specific request of an engagement client. The nature and scope of the consulting engagement are subject to agreement with the engagement client. All of the following are the parties generally involved in consulting services EXCEPT:
All of the following are the General questions auditors need to answer when auditing an organization’s control environment please chooses the correct option:
There are _________of audit planning. The first type, which is the focus of this section, involves management’s role in setting up ___________, authorizing appropriate resources, and selecting the functional areas to be audited. The second type of audit planning, which is discussed in Section II.C.2, involves the _________ associated with specific audits.
The following are guidelines for using performance data to evaluate performance EXCEPT:
Auditors and evaluators develop ________ to obtain information from customers or other stakeholders that is not readily available in the organization’s data sources. Where as ______ allow auditors to obtain testimonial evidence regarding a customer’s operations, activities, concerns, and initiatives.
Section _________ will detail some specific audit planning steps that are often utilized to ensure that the appropriate legal and audit standards are applied in ___________:
_________serves in a unique capacity as an important communication link among external and internal auditors and operating management, and as a means of reducing the risk of management override of key elements of a public sector entity’s internal control structure:
__________focus on the results of the program in order to determine the program’s effect. The net effect of a program can be analyzed by studying its outputs and outcomes in relation to the program’s objectives.
The ______ is the sum of the values of a group of items divided by the number of those items. Arithmetic mean is the most commonly used type of average. Where as_______ is a widely used measure of dispersion. The standard deviation represents the deviations of individual observations from the mean.
To evaluate the reliability of performance data in cases where a performance measurement system exists. All of the following are the steps that are included in the process EXCEPT:
Which committee of IFAC issues pronouncements aimed at developing and harmonizing public sector financial reporting, accounting, and auditing practices while “Public sector” refers to national governments, regional (state, provincial, territorial) governments, local (city, town) governments, and related governmental entities (agencies, boards, commissions, and enterprises)?
The third category of guidance ___________ includes a variety of materials that are developed and/or endorsed by The IIA, This category includes research studies, books, seminars, conferences, and other products and services related to the professional practice of internal auditing that do not meet the criteria for inclusion in mandatory guidance or Practice Advisories:
Both_______ and _______ stress the concept of self-assessment and responsibility of management in maintaining and monitoring the internal control environment. The primary goals of maintaining the effectiveness and efficiency of operations, ensuring the reliability of financial reporting and complying with applicable laws and regulations, are the same for both:
Telecommunication systems control the transmission of messages between users and the computer. Control over the telecommunication network is necessary to ensure that only authorized users have access to the computer facilities. Control techniques for telecommunication include all of the following EXCEPT:
In addition to the characteristics described above, performance measurement information should have all of the following characteristics EXCEPT:
__________ covers Matters affecting the operations of both the House of Representatives and Senate are usually initiated by means of concurrent resolutions. On approval by both the House of Representatives and Senate, they are signed by the clerk of the House and the secretary of the Senate. Where as _________ covers a matter concerning the operation of either the House of Representatives or Senate alone is initiated by a simple resolution. They are not presented to the president for action.
All of the following are the construction issues while developing a questionnaire EXCEPT:
All of the following groups benefit from the existence of audit standards in a variety of ways EXCEPT:
Recruiting is the process of advertising job openings and encouraging candidates to Apply. Where as The primary objective of it is to provide an adequate number of qualified candidates from which a selection can be made.
All of The following are questions auditors may ask when testing controls of safeguards over assets and records please choose the correct option:
Grants are used by governments to operate programs and provide services. Following are some of the some of the disadvantages of using grants please choose the correct option:
_______is the form used for most legislation, whether permanent or temporary, general or special, public or private. Bills are presented to the president for action when approved in identical form by both the House of Representatives and the Senate. Where ______ may originate either in the House of Representatives or in the Senate. There is little practical difference between a bill and a joint resolution.
Capital budgeting is often based on the issuance of capital debt. Capital debt (based on GASB 11) includes all of the following debt that are issued EXCEPT:
TESTED 26 Apr 2024