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ACC 544 Week 6 Quiz (Auditing)
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ACC 544 Week 6 Quiz (Auditing)

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ACC 544 Week 6 Quiz (Auditing)

 

 

• Question 1    Which of the following statements most likely represents a disadvantage for an entity that keeps microcomputer-prepared data files rather than manually prepared files?

• Question 2    A primary advantage of using generalized audit packages in the audit of an advanced computer system is that it enables the auditor to

• Question 3    Which of the following statements most likely represents a disadvantage for an entity that keeps microcomputer-prepared data files rather than manually prepared files?

• Question 4    Which of the following client computer systems generally can be audited without examining or directly testing computer programs of the system?

• Question 5    An independent auditor studies and evaluates a client's computer system. The auditor's study includes tests of controls that might include which of the following?

• Question 6    If a CPA wishes to identify all checks written for an amount over $1,000,000 that are included in a relational database, a likely approach to obtaining the list would be through a

• Question 7    Which of the following outcomes is a likely benefit of information technology used for internal control?

• Question 8    An auditor may decide not to perform tests of controls related to the computer portion of the client’s controls. Which of the following would not be a valid reason for choosing to omit tests of controls?

• Question 9    Which of the following is an advantage of using a value-added network for EDI transactions?

• Question 10 Which of the following is an auditor’s client most likely to use to perform queries requested by the auditor of a relational database?

• Question 11 Which of the following are essential elements of the audit trail in an electronic data interchange (EDI) system?

• Question 12 An auditor may use a "join" command in a database query to combine

• Question 13  A CPA might find information on the structure of relational database tables through which language interface?

• Question 14 Which of the following statements is correct concerning internal control in an electronic data interchange (EDI) system?

• Question 15 Which of the following is usually a benefit of transmitting transactions in an electronic data interchange (EDI) environment?

• Question 16 Which of the following is usually a benefit of using electronic funds transfer for international cash transactions?

• Question 17  In building an electronic data interchange (EDI) system, what process is used to determine which elements in the entity's computer system correspond to the standard data elements?

• Question 18  Which of the following statements is correct concerning the security of messages in an electronic data interchange (EDI) system?

• Question 19  In which of the following circumstances would an auditor expect to find that an entity implemented automated controls to reduce risks of misstatement?

• Question 20 Carmel Department Store has an ERP information system and is planning to issue credit cards to creditworthy customers. To strengthen internal control by making it difficult for one to create a valid customer account number, the company’s independent auditor has suggested the inclusion of a check digit which should be placed

• Question 21  Which of the following characteristics distinguishes electronic data interchange (EDI) from other forms of electronic commerce?

• Question 22  Which of the following is an engagement attribute for an audit of an entity that processes most of its financial data in electronic form, without any paper documentation?

• Question 23  Which of the following computer-assisted auditing techniques processes client input data on a controlled program under the auditor's control to test controls in the computer system?

• Question 24 An auditor would least likely use computer software to

• Question 25  Which of the following statements is not true of the test data approach to testing an accounting system?

• Question 26 When an auditor tests a computerized accounting system, which of the following is true of the test data approach?When an auditor tests a computerized accounting system, which of the following is true of the test data approach?

• Question 27  A primary advantage of using generalized audit software packages to audit the financial statements of a client that uses an EDP system is that the auditor may

• Question 28  Which of the following strategies would a CPA most likely consider in auditing an entity that processes most of its financial data only in electronic form, such as a paperless system?

• Question 29  Which of the following is an engagement attribute for an audit of an entity that processes most of its financial data in electronic form, without any paper documentation?

• Question 30 Which of the following computer-assisted auditing techniques processes client input data on a controlled program under the auditor's control to test controls in the computer

• Question 31 In auditing an entity's computerized payroll transactions, an auditor would be least likely to use test data to test controls concerning

• Question 32  Processing data through the use of simulated files provides an auditor with information about the operating effectiveness of control policies and procedures.

• Question 33 An auditor would most likely be concerned with which of the following controls in a distributed data processing system?

• Question 34  A retailing entity uses the Internet to execute and record its purchase transactions. The entity's auditor recognizes that the documentation of details of transactions will be retained for only a short period of time. To compensate for this limitation, the auditor most likely would

• Question 35 Which of the following is a general control that would most likely assist an entity whose systems analyst left the entity in the middle of a major project?

• Question 36  When an auditor tests the internal controls of a computerized accounting system, which of the following is true of the test data approach?

• Question 37 Which of the following most likely represents a significant deficiency in the internal control structure?

• Question 38  Which of the following types of evidence would an auditor most likely examine to determine whether internal control structure policies and procedures are operating as designed?

• Question 39  If a control total were computed on each of the following data items, which would best be identified as a hash total for a payroll EDP application?

• Question 40 An auditor most likely would test for the presence of unauthorized EDP program changes by running a

• Question 41 Which of the following controls most likely would assure that an entity can reconstruct its financial records?

• Question 42  An auditor most likely would introduce test data into a computerized payroll system to test internal controls related to the

• Question 43 Which of the following controls is a processing control designed to ensure the reliability and accuracy of data processing?

• Question 44 Which of the following are essential elements of the audit trail in an electronic data interchange (EDI) system?

• Question 45 Which of the following is an example of a validity check?

• Question 46  Which of the following control procedures most likely could prevent EDP personnel from modifying programs to bypass programmed controls?

• Question 47 When evaluating internal control of an entity that processes sales transactions on the Internet, an auditor would be most concerned about the

• Question 48 Which of the following procedures would an entity most likely include in its disaster recovery plan?

• Question 49  An auditor who wishes to capture an entity's data as transactions are processed and continuously test the entity's computerized information system most likely would use which of the following techniques?

• Question 50 In auditing an entity’s computerized payroll transactions, an auditor would be least likely to use test data to test controls concerning

• Question 51  Which of the following is a computer-assisted audit technique that permits an auditor to use the auditor’s version of a client’s program to process data and compare the output with the client’s output?

• Question 52  Which of the following could be difficult to determine because electronic evidence may not be retrievable after a specific period?

• Question 53  When companies use information technology (IT) extensively, evidence may be available only in electronic form. What is an auditor’s best course of action in such situations?

• Question 54  When an auditor tests the internal controls of a computerized accounting system, which of the following is true of the test data approach?

• Question 55  When conducting fieldwork for a physical inventory, an auditor cannot perform which of the following steps using a generalized audit software package?

• Question 56 Which of the following is not a problem associated with the use of test data for computer-audit purposes?

• Question 57  In parallel simulation, actual client data are reprocessed using an auditor software program. An advantage of using parallel simulation, instead of performing tests of controls without a computer, is that

• Question 58 Which of the following is necessary to audit balances in an on-line EDP system in an environment of destructive updating?

• Question 59 Which of the following passwords would be most difficult to crack?

• Question 60 A computer-assisted audit technique that is most likely to be effective in a continuous auditing environment is

• Question 61  Smith Corporation has numerous customers. A customer file is kept on disk storage. Each customer file contains name, address, credit limit, and account balance. The auditor wishes to test this file to determine whether credit limits are being exceeded. The best procedure for the auditor to follow would be to

• Question 62  When an auditor tests a computerized accounting system, which of the following is true of the test data approach? 

• Question 63  An audit technique which involves actual analysis of the logic of a computer program’s processing routines is referred to as

• Question 64 In auditing through a computer, the test data method is used by auditors to test the

• Question 65 A primary advantage of using generalized audit software packages to audit the financial statements of a client that uses a computer system is that the auditor may

• Question 66 Which of the following is an advantage of generalized computer audit packages?

• Question 67 The individual with whom an auditor would be most likely to discuss specific access controls within a client’s relational database management system is the

• Question 68 Which of the following is not a technique to continuously test controls within a computer system?

• Question 69 To obtain evidence that user identification and password controls are functioning as designed, an auditor would most likely

• Question 70 When testing a computerized accounting system, which of the following is not true of the test data approach?

• Question 71  Which of the following is not a major reason for maintaining an audit trail for a computer system?

• Question 72 In building an electronic data interchange (EDI) system, what process is used to determine which elements in the entity's computer system correspond to the standard data elements? 

• Question 73 Which of the following is not a major reason for maintaining an audit trail for a computer system?

• Question 74 Auditing by testing the input and output of a computer system instead of the computer program itself will

• Question 75 An auditor anticipates assessing control risk at a low level in a computerized environment. Under these circumstances, on which of the following controls would the auditor initially focus? 

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