OCEG GRCA GRC Auditor Certification Exam Exam Practice Test Questions

• Question 1

  Identifying root causes helps toBe more specific regarding who is to blameFind a solution to fixing not only this problem but potential other problems that result from the same root cause

  • Latino
  • A QUALIFIED assurance opinion or statement is
  • An affirmative statement that subject matter conforms to the suitable criteria and is free from meaningful misunderstanding
  • A statement that the assessment didn’t observe anything that makes us doubt whether subject
  • Matter conforms to the suitable criteria and is free from meaningful misunderstanding.
  • A statement that the assessment encountered some limitations in what can be concluded and outside of those limitations a positive or negative statement can be offered.
  • Explanation:
  • A QUALIFIED assurance opinion or statement indicates that the assessment encountered some limitations, and outside of those limitations, a positive or negative statement can be offered. This type of opinion acknowledges that there are constraints that affected the scope or completeness of the assessment, but within the areas that could be reviewed, the assurance provider can still offer a conclusion. It is a way to communicate the assurance provider's findings while being transparent about any limitations that were encountered.
  • Reference:
  • IIA Standards for the Professional Practice of Internal Auditing AICPA Auditing Standards

  Show Answer Answer: B Next

• Question 2

  When should Assessment Notification be announced?

  • As late as possible in case there is fraud in the assessed area
  • Depends on the Purpose and Parameters and whether fraud it suspected.
  • As soon as possible to start planning

  Show Answer Answer: B Next

• Question 3

  To evaluate operating effectiveness

  • Conduct control testing
  • Conduct substantive testing

  Show Answer Answer: A Next

• Question 4

  Follow up should be restricted to the recommendations and action plan

  • True. Only follow-up on planned actions and controls.
  • False. Follow-Up should target the underlying risk. If the planned actions and controls are working, then the follow-up should identify and recommend changes.

  Show Answer Answer: B Next

• Question 5

  When inspecting information, the Content Criteria provides a guide to evaluating which of these

  • Design of the control
  • Substance of the operation in the field

  Show Answer Answer: A Next