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Question 1. Question : (TCO E) Statement of condition looks at the following, except:
What is found
What is observed
What is defective
Who is the process owner
Question 2. Question : (TCO E) Criteria standards for the operational auditor include internal standards for the organization, such as _____.
policy
regulation
contract
All of the above
Question 3. Question : (TCO E) Findings should be vetted by a rigorous findings _____ which ensure findings are valid.
checklist
debate
matrix
test
Question 4. Question : (TCO E) To be successful, the audit report must
be succinct and clear.
persuade management.
be thoroughly vetted.
be communicated widely.
Question 5. Question : (TCO E) The ABC’s of effective reporting include all of the following except:
accuracy
brevity
defense
feasibility
Question 6. Question : (TCO F) Which of the following choices is not a category of check tampering?
Forged maker schemes
Altered payee schemes
Unauthorized endorsement schemes
Concealed check schemes
Question 7. Question : (TCO F) If a fraudster fails to remove a terminated employee from the payroll and collects the former employees fraudulent paychecks, he/she is committing a:
Payroll larceny scheme
Falsified hours and salary scheme
Forged endorsement scheme
Ghost employee scheme
Question 8. Question : (TCO F) In one of the case studies in the textbook (page 167), Katie Jordon was the All-American Girl Next Door working her first job out of college. As an on-site manager for an apartment complex in Dallas, she did such a good job that when her employer purchased a huge apartment complex in Houston, they asked her to run it. All was good until a member of the maintenance crew resigned. She continued to keep him on the payroll and pocketed his wages. She later added a non-existent assistant when she saw how easy it was to add an employee without being questioned. However, her scheme eventually came to light, and her days of bonus pay were over. How was her scheme discovered?
Question 9. Question : (TCO F) _____ is the offering, giving, receiving, or soliciting of something of value as a reward for a favorable decision.
Business diversion
Economic extortion
Illegal gratuity
Commercial bribery
Question 10. Question : (TCO F) General Services Administration (GSA), the federal governments bookkeeping agency, purchased more than $200 million worth of defective and useless furniture from a New Jersey furniture manufacturer. After reviewing the books of the furniture manufacturer, it was clear that the company was paying off GSA inspectors. What happened to the furniture manufacturing company?
It lost its contract with the GSA and went bankrupt.
It was charged with making false certifications and fined $2 million.
It was bought by another company.
All of the above