Question 1

The section of Sarbanes Oxley that requires financial analysts to properly disclose in research reports any conflicts of interest they might hold with the companies they recommend is ______________________________.

Accepted Answer

The answer of The section of Sarbanes Oxley that requires...

Question 2

The ______________________________ states that "a fundamental aspect of management's stewardship responsibility is to provide shareholders with reasonable assurance that the business is adequately controlled."

Accepted Answer

The answer of The ______________________________ states that "a fundamental aspect...

Question 3

______________________________ provides guidance on how an organization's IT might affect any of COSO's five components of internal control.This standard guides auditors in understanding the impact of IT on internal control and assessing IT-related control risks.

Accepted Answer

The answer of ______________________________ provides guidance on how an organization's...

Question 4

The section of Sarbanes Oxley that makes it a felony to knowingly destroy,alter,or create records and or documents with the intent to impede,obstruct,or influence an ongoing or contemplated federal investigation and offers legal protection to whistle-blowers is ______________________________.

Accepted Answer

The answer of The section of Sarbanes Oxley that makes...

Question 5

______________________________ are events that would have a positive impact on objectives.

Accepted Answer

The answer of ______________________________ are events that would have a...

Question 6

The section of Sarbanes Oxley that sets forth criminal penalties applicable to CEOs and CFOs of up to $5 million and up to 20 years imprisonment if they knowingly or willfully certify false or misleading periodic reports is ______________________________.

Accepted Answer

The answer of The section of Sarbanes Oxley that sets...

Question 7

PCAOB Auditing Standard No.5 uses ______________________________ in its description of the conduct of an integrated audit under SOX 404.

Accepted Answer

The answer of PCAOB Auditing Standard No.5 uses ______________________________ in...

Question 8

COSO's ______________________________ sets the tone of the organization,influencing the control consciousness of its people.

Accepted Answer

The answer of COSO's ______________________________ sets the tone of the...

Question 9

COSO's ______________________________ is the entity's identification and analysis of relevant risks to the achievement of its objectives,forming a basis for determining how the risks should be managed.

Accepted Answer

The answer of COSO's ______________________________ is the entity's identification and...

Question 10

______________________________ is a deliberate act or untruth intended to obtain unfair or unlawful gain.

Accepted Answer

The answer of ______________________________ is a deliberate act or untruth...

Question 11

The section of Sarbanes Oxley that authorizes the SEC to censure or deny any person the privilege of appearing or practicing before the SEC if that person is deemed to be unqualified,have acted in an unethical manner,or have aided and abetted in the violation of federal securities laws is ______________________________.

Accepted Answer

The answer of The section of Sarbanes Oxley that authorizes...

Question 12

The section of Sarbanes Oxley that prohibits audit firms from providing a wide array of nonaudit services to audit clients is ______________________________.

Accepted Answer

The answer of The section of Sarbanes Oxley that prohibits...

Question 13

COSO's ______________________________ are the policies and procedures that help ensure that management directives are carried out.

Accepted Answer

The answer of COSO's ______________________________ are the policies and procedures...

Question 14

The section of Sarbanes Oxley that requires each annual report filed with the SEC to include an internal control report is ______________________________.

Accepted Answer

The answer of The section of Sarbanes Oxley that requires...

Question 15

The section of Sarbanes Oxley that requires a company's CEO and CFO to certify quarterly and annual reports is ______________________________.

Accepted Answer

The answer of The section of Sarbanes Oxley that requires...

Question 16

The ______________________________ framework suggests that organizations and auditors should continue to use COSO as a basis for internal control.

Accepted Answer

The answer of The ______________________________ framework suggests that organizations and...

Question 17

The section of Sarbanes Oxley that establishes an independent board to oversee public company audits is ______________________________.

Accepted Answer

The answer of The section of Sarbanes Oxley that establishes...

Question 18

The section of Sarbanes Oxley that provides for fines and imprisonment of up to 20 years for individuals who corruptly alter,destroy,mutilate,or conceal documents with the intent to impair the document's integrity or availability for use in an official proceeding,or to otherwise obstruct,influence or impede any official proceeding is ______________________________.

Accepted Answer

The answer of The section of Sarbanes Oxley that provides...

Question 19

The section of Sarbanes Oxley that has received the most press as companies and their auditors have struggled to comply with its requirements is ______________________________.

Accepted Answer

The answer of The section of Sarbanes Oxley that has...

Question 20

______________________________ are those events that would have a negative impact on organization objectives.

Accepted Answer

The answer of ______________________________ are those events that would have...

Quiz 7: Controlling Information Systems: Introduction to Enterprise Risk Management and Internal Control

The section of Sarbanes Oxley that requires financial analysts to properly disclose in research reports any conflicts of interest they might hold with the companies they recommend is ______________________________.

The ______________________________ states that "a fundamental aspect of management's stewardship responsibility is to provide shareholders with reasonable assurance that the business is adequately controlled."

______________________________ provides guidance on how an organization's IT might affect any of COSO's five components of internal control.This standard guides auditors in understanding the impact of IT on internal control and assessing IT-related control risks.

The section of Sarbanes Oxley that makes it a felony to knowingly destroy,alter,or create records and or documents with the intent to impede,obstruct,or influence an ongoing or contemplated federal investigation and offers legal protection to whistle-blowers is ______________________________.

______________________________ are events that would have a positive impact on objectives.

The section of Sarbanes Oxley that sets forth criminal penalties applicable to CEOs and CFOs of up to $5 million and up to 20 years imprisonment if they knowingly or willfully certify false or misleading periodic reports is ______________________________.

PCAOB Auditing Standard No.5 uses ______________________________ in its description of the conduct of an integrated audit under SOX 404.

COSO's ______________________________ sets the tone of the organization,influencing the control consciousness of its people.

COSO's ______________________________ is the entity's identification and analysis of relevant risks to the achievement of its objectives,forming a basis for determining how the risks should be managed.

______________________________ is a deliberate act or untruth intended to obtain unfair or unlawful gain.

The section of Sarbanes Oxley that prohibits audit firms from providing a wide array of nonaudit services to audit clients is ______________________________.

COSO's ______________________________ are the policies and procedures that help ensure that management directives are carried out.

The section of Sarbanes Oxley that requires each annual report filed with the SEC to include an internal control report is ______________________________.

The section of Sarbanes Oxley that requires a company's CEO and CFO to certify quarterly and annual reports is ______________________________.

The ______________________________ framework suggests that organizations and auditors should continue to use COSO as a basis for internal control.

The section of Sarbanes Oxley that establishes an independent board to oversee public company audits is ______________________________.

The section of Sarbanes Oxley that has received the most press as companies and their auditors have struggled to comply with its requirements is ______________________________.

______________________________ are those events that would have a negative impact on organization objectives.