Question 1

What is the formal tam for the listing and assessment of an agency's top risks?

Options :

A : risk profile

B : risk management plan

C : risk assessment

D : risk register

Answer: A

Question 2

A governmental attestation engagement may include a requirement to

Options :

A : monitor a subgrantee for compliance to the grant restrictions.

B : establish a policy concerning fraud prevention.

C : monitor purchasing card charges for compliance with travel policies.

D : review the revenue coverage requirements on outstanding bonds.

Answer: D

Question 3

Which of the following acts requires federal agencies to pay interest to state government funds for entitlements that are not provided in a timely manner?

Options :

A : Debt Collection Improvement Act

B : CFO Act

C : Accountability for Tax Dollars Act

D : Cash Management Improvement Act

Answer: D

Question 4

When planning for local government financial statement audit, what data source should the auditor consider first?

Options :

A : government-wide financial statements

B : fund financial statements

C : reconciliations between fund financial statements

D : previous audit findings

Answer: D

Question 5

What is the most fupdamental cash control?

Options :

A : segregation of duties

B : use of automated systems

C : analysis of cash reports

D : frequent reconciliation of bank accounts

Answer: D

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