Question 1

All of the following groups benefit from the existence of audit standards in a variety of ways EXCEPT:

Accepted Answer

Government organizations themselves do not directly benefit from audit standards in the same way as the other groups mentioned, as they are typically the entities being audited rather than the beneficiaries of the audit standards.

Question 2

All of the following are the guidelines that apply to the construction of a frequency distribution EXCEPT:

Accepted Answer

Making a graph is not a guideline for constructing a frequency distribution; it is a separate step that may follow the creation of the distribution.

Question 3

Audit standards were developed and are followed for all of the following reasons EXCEPT:

Accepted Answer

Audit standards are not specifically developed to address audit staff qualifications and quality control, which are typically covered by other professional guidelines and internal firm policies.

Question 4

One mechanism to help ensure the proper application of audit standards is through ____________. The purpose of _______________ is to provide feedback to management on the effectiveness of the quality control policies and procedures of an organization:

Accepted Answer

An internal quality review process is designed to provide feedback to management on the effectiveness of the quality control policies and procedures within an organization, ensuring proper application of audit standards.

Question 5

All of the following are questions auditors may ask when testing controls of safeguards over assets and records please choose the correct option:

Accepted Answer

The questions in A and C are related to controls of safeguards over assets and records, while B is not.

Question 6

All of the following are the general steps to follow when testing a hypothesis EXCEPT:

Accepted Answer

In hypothesis testing, you never "accept" the null hypothesis; you either reject it or fail to reject it.

Question 7

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.

Accepted Answer

The arithmetic mean is the sum of values divided by the number of items, and the standard deviation is a measure of dispersion indicating how much individual observations deviate from the mean.

Question 8

_________Help define the role and responsibilities of auditors to internal and external entities. Where as _______establish the basic principles and guidance to assist auditors in the performance of their duties?

Accepted Answer

Audit standards help define the role and responsibilities of auditors to internal and external entities, while standards establish the basic principles and guidance to assist auditors in the performance of their duties.

Question 9

The purpose of the external quality control review is to determine whether the organization'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.

Accepted Answer

The external quality control review assesses the internal quality control system to ensure it is functioning effectively and in compliance with auditing standards.

Question 10

The term _______refers to methods designed to describe or summarize the characteristics of a data set. The term _______refers to methods designed to allow inferences or estimates to be made about the characteristics of a data set.

Accepted Answer

Descriptive statistics are used to summarize and describe the main features of a data set, while inferential statistics are used to make inferences or predictions about a population based on a sample.

Question 11

The term descriptive statistics refers to methods designed to describe or summarize the characteristics of a data set. All of The following analysis procedures are associated with descriptive statistics EXCEPT:

Accepted Answer

The answer of The term descriptive statistics refers to methods...

Question 12

Techniques involved in conducting formative evaluations include all of the following EXCEPT:

Accepted Answer

The answer of Techniques involved in conducting formative evaluations include...

Question 13

Section _________ will detail some specific audit planning steps that are often utilized to ensure that the appropriate legal and audit standards are applied in ___________:

Accepted Answer

Section II.C.2 (Planning) typically outlines specific audit planning steps, which are then applied in audit engagements to ensure compliance with legal and audit standards.

Question 14

The application of the appropriate audit standards is dependent on all of the following issues EXCEPT:

Accepted Answer

External control requirements are not typically a factor in determining the application of audit standards, which are more influenced by internal laws, policies, regulations, and specific audit requirements.

Question 15

The IIA has developed the Professional Practices Framework (PPF). In general, a framework provides a structural blueprint of how a body of knowledge and guidance fits together. As a coherent system, it facilitates all of the following to a discipline or profession EXCEPT:

Accepted Answer

Communication skills are not typically facilitated by a framework like the PPF, which focuses more on the application of concepts, consistent development, and interpretation and methodologies within a profession.

Question 16

Standards must be reviewed and applied appropriately during the conduct of an audit. Following are some illustrations of situations that may arise during the course of an audit EXCEPT:

Accepted Answer

Coordination is not a standard or principle that is specifically reviewed or applied during an audit. The other options relate to key audit principles or standards.

Question 17

All of the following are the reporting standards in government auditing EXCEPT:

Accepted Answer

The answer of All of the following are the reporting...

Question 18

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.

Accepted Answer

The correct terms are informal and formal groups, and the members of these groups are referred to as group members.

Question 19

Many _____________________ are conducted in accordance with established Standards, INTOSAI, or IFAC standards. The International Organization of Supreme Audit Institutions ______________________ promulgates standards for government organizations where as the International Federation of Accountants _________________ provides additional guidance and standards:

Accepted Answer

Government audits are conducted in accordance with established standards, and INTOSAI promulgates standards for government organizations, while IFAC provides additional guidance and standards.

Question 20

________ addresses performance measures by requiring agencies to maintain an integrated accounting and financial management system that provides for the systematic measurement of performance.

Accepted Answer

The Chief Financial Officers Act of 1990 (CFO) requires federal agencies to establish and maintain integrated accounting and financial management systems, which include performance measurement as a key component.

Exam 2: Certified Government Auditing Professional

All of the following groups benefit from the existence of audit standards in a variety of ways EXCEPT:

All of the following are the guidelines that apply to the construction of a frequency distribution EXCEPT:

Audit standards were developed and are followed for all of the following reasons EXCEPT:

One mechanism to help ensure the proper application of audit standards is through . The purpose of ___ is to provide feedback to management on the effectiveness of the quality control policies and procedures of an organization:

All of the following are questions auditors may ask when testing controls of safeguards over assets and records please choose the correct option:

All of the following are the general steps to follow when testing a hypothesis EXCEPT:

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.

___Help define the role and responsibilities of auditors to internal and external entities. Where as _establish the basic principles and guidance to assist auditors in the performance of their duties?

The purpose of the external quality control review is to determine whether the organization'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.

The term _refers to methods designed to describe or summarize the characteristics of a data set. The term _refers to methods designed to allow inferences or estimates to be made about the characteristics of a data set.

The term descriptive statistics refers to methods designed to describe or summarize the characteristics of a data set. All of The following analysis procedures are associated with descriptive statistics EXCEPT:

Techniques involved in conducting formative evaluations include all of the following EXCEPT:

Section _ will detail some specific audit planning steps that are often utilized to ensure that the appropriate legal and audit standards are applied in ___:

The application of the appropriate audit standards is dependent on all of the following issues EXCEPT:

The IIA has developed the Professional Practices Framework (PPF) . In general, a framework provides a structural blueprint of how a body of knowledge and guidance fits together. As a coherent system, it facilitates all of the following to a discipline or profession EXCEPT:

Standards must be reviewed and applied appropriately during the conduct of an audit. Following are some illustrations of situations that may arise during the course of an audit EXCEPT:

All of the following are the reporting standards in government auditing 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.

________ addresses performance measures by requiring agencies to maintain an integrated accounting and financial management system that provides for the systematic measurement of performance.