Question 1

All of The following are considered abuses of public debt EXCEPT:

Options :

A : Borrowing to finance operating expenditures.

B : Borrowing beyond ability to repay

C : Not borrowing where corruption is widespread.

D : Borrowing to finance no-return projects or speculative facilities

Answer: C

Question 2

Following are examples of the intersection of public information with privacy include please choose the correct option:

Options :

A : Private-sector contractors’ proposals or unit cost information (proprietary information related to a business that was disclosed in a proposal to provide services to a unit of government).

B : A & C only

C : Income levels of clients to determine eligibility for a service (for example, free and reduced price lunch programs).

D : Mental health data, medical records, social services provided to clients (personal information retained for specific government programs).

E : All of the above.

Answer: A

Question 3

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

Options :

A : Is confidential or sensitive information kept separate from other records?

B : Does management provide a favorable control environment in the organization?

C : Does adequate physical security exist over assets and records? Are storerooms locked? Are equipment and inventories properly recorded? Are there adequate environmental controls over assets (e.g., appropriate temperature)?

D : Only A & C

Answer: D

Question 4

Recruiting is the process of advertising job openings and encouraging candidates to Apply. Where as The primary objective of it is to provide an adequate number of qualified candidates from which a selection can be made

Options :

A : planning, primary objective

B : recruiting, primary objective

C : selection, primary objective

D : training, primary objective

Answer: B

Question 5

The audit committee should be made up of individuals who are independent of the day-to-day management of the public sector entity and who have the necessary program and /or management expertise to perform their review function effectively. The responsibilities of the audit committee should be stated in a _______, _______ or _______that is approved by the full board or governing body of the public sector entity, as appropriate.

Options :

A : Informal, written charter or equivalent document

B : Legal, written charter or equivalent document

C : Formal, verbal charter or equivalent document

D : Formal, written charter or equivalent document

Answer: D

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