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MGT 209- CHAPTER 7

MGT 209- CHAPTER 7
19問 • 2年前
  • Anndrea S. Galupo
  • 通報

    問題一覧

  • 1

    This is the first line of defense againts risk events in which it is intended to avert the happening of the abovementioned negative events.

    PREVENTIVE CONTROL

  • 2

    This serves as the second line of defense and it is intended to identify and uncover fraud, error or non compliance that may have already occurred within the company.

    DETECTIVE CONTROL

  • 3

    When error is detected through a bank reconciliation statement, such should be adjusted in the books of accounts in order to correct the cash balances.

    CORRECTIVE CONTROL

  • 4

    * Computerized controls * These are controls that are built into computer program and systems intended to ensure system integrity, reliability and security.

    AUTOMATED CONTROLS

  • 5

    It is an intentional act by one or more individuals amoung management, those charged with governance, employees or third parties, involving the use of deception to obtain an unjust or illegal advantage.

    FRAUD

  • 6

    It is also known as window dressing. It is a kind of fraud that results in manipulated financial statements and misleading accounting report and records

    FRAUDULENT FINANCIAL REPORTING

  • 7

    It involves theft of company assets, fund or resources.

    MISAPPROPRIATION OF ASSETS

  • 8

    It involves irregularities that result to illegal kickbacks, under the table schemes, bribery and the like.

    CORRUPTION

  • 9

    Ability to carry out misappropriation of cash or organizational assets

    OPPORTUNITY

  • 10

    Justification of dishonest actions

    RATIONALIZATION

  • 11

    Motivation or incentive to commit fraud

    PRESSURE

  • 12

    A critical control is not properly designed and does not meet the control objective or is simply ineffective

    DEFICIENCY IN DESIGN

  • 13

    A critical control is designed properly but does not perform in the intended manner and is unable to address the identified risks.

    DESIGN IN OPERATIONS

  • 14

    An interdependent and objective assurance that provides service to the company in the areas of operations, reporting, compliance and finance. It is performed by internal auditors

    INTERAL AUDIT

  • 15

    Examinations intended to ascertain whether the management has conducted business operations effectively and efficiently.

    OPERATIONAL AUDIT

  • 16

    Examinations intended to determine whether the company or any of its department is able to adhere to prevailing laws and regulations.

    COMPLIANCE AUDIT

  • 17

    Examinations focused on determining whether the company's finance function as well as financial reports are accurate or reliable.

    FINANCIAL AUDIT

  • 18

    It expresses the truthfulness of the financial statements of the company. Their audits are focused on the fairness of corporate financial statements insofar to adherence to applicable accounting standards are concerned. It is performed by external auditors which must be a Certified Public Acountant (CPA).

    EXTERNAL AUDIT

  • 19

    It is an advanced certification although it is not a mandatory requirement for one to be an internal auditor.

    CIA

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    ACCOUNTING- PAS 12

    8問 • 2年前
    Anndrea S. Galupo

    FILI 101- YUNIT 2

    FILI 101- YUNIT 2

    Anndrea S. Galupo · 28問 · 2年前

    FILI 101- YUNIT 2

    FILI 101- YUNIT 2

    28問 • 2年前
    Anndrea S. Galupo

    問題一覧

  • 1

    This is the first line of defense againts risk events in which it is intended to avert the happening of the abovementioned negative events.

    PREVENTIVE CONTROL

  • 2

    This serves as the second line of defense and it is intended to identify and uncover fraud, error or non compliance that may have already occurred within the company.

    DETECTIVE CONTROL

  • 3

    When error is detected through a bank reconciliation statement, such should be adjusted in the books of accounts in order to correct the cash balances.

    CORRECTIVE CONTROL

  • 4

    * Computerized controls * These are controls that are built into computer program and systems intended to ensure system integrity, reliability and security.

    AUTOMATED CONTROLS

  • 5

    It is an intentional act by one or more individuals amoung management, those charged with governance, employees or third parties, involving the use of deception to obtain an unjust or illegal advantage.

    FRAUD

  • 6

    It is also known as window dressing. It is a kind of fraud that results in manipulated financial statements and misleading accounting report and records

    FRAUDULENT FINANCIAL REPORTING

  • 7

    It involves theft of company assets, fund or resources.

    MISAPPROPRIATION OF ASSETS

  • 8

    It involves irregularities that result to illegal kickbacks, under the table schemes, bribery and the like.

    CORRUPTION

  • 9

    Ability to carry out misappropriation of cash or organizational assets

    OPPORTUNITY

  • 10

    Justification of dishonest actions

    RATIONALIZATION

  • 11

    Motivation or incentive to commit fraud

    PRESSURE

  • 12

    A critical control is not properly designed and does not meet the control objective or is simply ineffective

    DEFICIENCY IN DESIGN

  • 13

    A critical control is designed properly but does not perform in the intended manner and is unable to address the identified risks.

    DESIGN IN OPERATIONS

  • 14

    An interdependent and objective assurance that provides service to the company in the areas of operations, reporting, compliance and finance. It is performed by internal auditors

    INTERAL AUDIT

  • 15

    Examinations intended to ascertain whether the management has conducted business operations effectively and efficiently.

    OPERATIONAL AUDIT

  • 16

    Examinations intended to determine whether the company or any of its department is able to adhere to prevailing laws and regulations.

    COMPLIANCE AUDIT

  • 17

    Examinations focused on determining whether the company's finance function as well as financial reports are accurate or reliable.

    FINANCIAL AUDIT

  • 18

    It expresses the truthfulness of the financial statements of the company. Their audits are focused on the fairness of corporate financial statements insofar to adherence to applicable accounting standards are concerned. It is performed by external auditors which must be a Certified Public Acountant (CPA).

    EXTERNAL AUDIT

  • 19

    It is an advanced certification although it is not a mandatory requirement for one to be an internal auditor.

    CIA