Welcome to our Friday CPA Exam Quiz! This week were brushing up on AUD: IT Controls – General Controls. The first person to answer our questions correctly wins a $10 Amazon Gift Card. We like to pick new winners, so if youve won in the past, please participate but you are not eligible to win again. Here we go! Question 1: In building an electronic data interchange (EDI) system, what process is used to determine which elements in the entitys computer system correspond to the standard data elements? A. Mapping B. Translation C. Encryption D. Decoding Question 2: Which of the following procedures would an entity most likely include in its disaster recovery plan? A. Convert all data from EDI format to an internal company format. B. Maintain a Trojan horse program to prevent illicit activity. C. Develop an auxiliary power supply to provide uninterrupted electricity. D. Store duplicate copies of files in a location away from the computer center. Question 3: Which of the following are essential elements of the audit trail in an electronic data interchange (EDI) system? A. Network and sender/recipient acknowledgments B. Message directories and header segments C. Contingency and disaster recovery plans D. Trading partner security and mailbox codes Question 4: Which of the following is an inherent limitation in internal control? A. Incompatible duties B. Lack of segregation of duties C. Faulty human judgment D. Lack of an audit committee Question 5: The ultimate purpose of assessing control risk is to contribute to the auditors evaluation of the risk that: A. Specific internal control activities are not operating as designed. B. The collective effect of the control environment may not achieve the control objectives. C. Tests of controls may fail to identify activities relevant to assertions. D. Material misstatements may exist in the financial statements.
Posted on: Fri, 25 Jul 2014 19:34:41 +0000
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