Internal Controls

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1. Which of the following components of internal control includes development and use of training policies that communicate prospective roles and responsibilities to employees?

2. Proper segregation of duties will reduce the opportunities which allow persons to be in positions to both _____

3. Effective internal control calls for the separation of certain functions. Which of the following functions should be separated?

4. Which of the following is an example of detective control?

5. According to the Sarbanes-Oxley Act, public accounting firms are allowed to provide which of the following non-audit services?

6. The Sarbanes-Oxley Act imposes all of the following provisions except?

7. What type of control is often used by operatives where formal controls are inadequate in containing risk or are not used in practice?

8. Which of the following statements is TRUE regarding management's documentation of internal controls?

9. In an audit of financial statements, what is an auditor's primary consideration regarding an internal control?

10. When obtaining an understanding of an entity's control environment, why should an auditor concentrate on the substance of controls rather than their form?

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