SOD THEORY 1 ACTUAL EXAM PAPER
2026 QUESTIONS WITH ANSWERS
GRADED A+
>> Segregation of Duties (SOD)
Answer: Dividing responsibilities among multiple people to prevent fraud
>> Separation of Duties
Answer: Another term for segregation of duties
>> Internal Control
Answer: Process ensuring operational effectiveness and compliance
>> Dual Control
Answer: Requiring two people for critical tasks
>> Maker-Checker
Answer: One person creates transaction, another verifies
>> Authorization
Answer: Approval to perform an action
>> Custody
Answer: Physical possession of assets
>> Record Keeping
Answer: Maintaining documentation of transactions
, >> Reconciliation
Answer: Comparing records to ensure accuracy
>> Fraud Triangle
Answer: Opportunity, pressure, rationalization
>> Fraud Prevention
Answer: Measures to stop dishonest activity
>> Fraud Detection
Answer: Identifying fraudulent activity
>> Control Environment
Answer: Organizational culture regarding controls
>> Risk Assessment
Answer: Identifying and analyzing potential risks
>> Control Activities
Answer: Policies and procedures mitigating risks
>> Information and Communication
Answer: Sharing relevant data
>> Monitoring
Answer: Ongoing evaluation of internal controls
>> Compensating Control
Answer: Alternative control when ideal separation impossible
2026 QUESTIONS WITH ANSWERS
GRADED A+
>> Segregation of Duties (SOD)
Answer: Dividing responsibilities among multiple people to prevent fraud
>> Separation of Duties
Answer: Another term for segregation of duties
>> Internal Control
Answer: Process ensuring operational effectiveness and compliance
>> Dual Control
Answer: Requiring two people for critical tasks
>> Maker-Checker
Answer: One person creates transaction, another verifies
>> Authorization
Answer: Approval to perform an action
>> Custody
Answer: Physical possession of assets
>> Record Keeping
Answer: Maintaining documentation of transactions
, >> Reconciliation
Answer: Comparing records to ensure accuracy
>> Fraud Triangle
Answer: Opportunity, pressure, rationalization
>> Fraud Prevention
Answer: Measures to stop dishonest activity
>> Fraud Detection
Answer: Identifying fraudulent activity
>> Control Environment
Answer: Organizational culture regarding controls
>> Risk Assessment
Answer: Identifying and analyzing potential risks
>> Control Activities
Answer: Policies and procedures mitigating risks
>> Information and Communication
Answer: Sharing relevant data
>> Monitoring
Answer: Ongoing evaluation of internal controls
>> Compensating Control
Answer: Alternative control when ideal separation impossible
