ACC 312G EXAM 2024
ACC 312G EXAM 2024 |ACCURATE ANSWERS |VERIFIED
An internal auditor who knowingly is a party to an illegal activity violates which
rule of conduct? - ACCURATE ANSWER✅✅Integrity
An internal auditor who accepts anything that may impair his or her independence
violates which rule of conduct? - ACCURATE ANSWER✅✅Objectivity
An internal auditor who does not continue to improve her or his proficiency
violates which rule of conduct? - ACCURATE ANSWER✅✅Competency
An internal auditor who uses information for personal gain violates which rule of
conduct? - ACCURATE ANSWER✅✅Confidentiality
An internal auditor who does not disclose all material facts violates which rule of
conduct? - ACCURATE ANSWER✅✅Objectivity
,Which is not part of the mandatory guidance for the International Professional
Practices Framework? - ACCURATE ANSWER✅✅Implementation Guidance
Which is not part of the Definition of Internal Auditing? - ACCURATE
ANSWER✅✅Confidentiality
If the first digit of a Standard is 2, what type of standard is it? - ACCURATE
ANSWER✅✅Performance
What type of Standard is 2410.C1? - ACCURATE ANSWER✅✅Performance
Consulting
Which is NOT one of the Core Principles for the Professional Practice of Internal
Auditing? - ACCURATE ANSWER✅✅Provides error free judgment
Which is not true regarding the Okurasho? - ACCURATE ANSWER✅✅The
group controlled Japan's stock market.
Which is not true regarding the Ministry of Finance (MOF)? - ACCURATE
ANSWER✅✅They were not held responsible for huge government bailouts.
Low audit fees in Japan resulted in all of the following EXCEPT: - ACCURATE
ANSWER✅✅Improved profitability for Japanese firms.
Some Japanese auditors subordinated their judgment to others due to all of the
following EXCEPT: - ACCURATE ANSWER✅✅Low audit fee payments.
, All of the following led to a credibility crisis for Japan's independent audit function
EXCEPT: - ACCURATE ANSWER✅✅New regulatory structure for the public
accounting profession.
The internal audit activity must evaluate the effectiveness and contribute to the
improvement of risk management processes. (T/F) - ACCURATE
ANSWER✅✅True
Determining whether risk management processes are effective is a judgment
resulting from the internal auditor's assessment of all of the following EXCEPT: -
ACCURATE ANSWER✅✅All risks have effective controls.
Risk management processes are monitored through: - ACCURATE
ANSWER✅✅Both ongoing management activities and separate evaluations.
The internal audit activity must evaluate risk exposures relating to the
organization's governance, operations, and information systems regarding all of the
following EXCEPT: - ACCURATE ANSWER✅✅Management of risks by the
internal audit department.
Which of the following is false? - ACCURATE ANSWER✅✅Internal auditors
are ultimately responsible for the management of organizational risk.
Which is not a limitation of Enterprise Risk Management (ERM)? - ACCURATE
ANSWER✅✅Absolute assurance of achievement of entity objectives.
Which is not a risk response of Enterprise Risk Management (ERM)? -
ACCURATE ANSWER✅✅Align mission with risk appetite.
ACC 312G EXAM 2024 |ACCURATE ANSWERS |VERIFIED
An internal auditor who knowingly is a party to an illegal activity violates which
rule of conduct? - ACCURATE ANSWER✅✅Integrity
An internal auditor who accepts anything that may impair his or her independence
violates which rule of conduct? - ACCURATE ANSWER✅✅Objectivity
An internal auditor who does not continue to improve her or his proficiency
violates which rule of conduct? - ACCURATE ANSWER✅✅Competency
An internal auditor who uses information for personal gain violates which rule of
conduct? - ACCURATE ANSWER✅✅Confidentiality
An internal auditor who does not disclose all material facts violates which rule of
conduct? - ACCURATE ANSWER✅✅Objectivity
,Which is not part of the mandatory guidance for the International Professional
Practices Framework? - ACCURATE ANSWER✅✅Implementation Guidance
Which is not part of the Definition of Internal Auditing? - ACCURATE
ANSWER✅✅Confidentiality
If the first digit of a Standard is 2, what type of standard is it? - ACCURATE
ANSWER✅✅Performance
What type of Standard is 2410.C1? - ACCURATE ANSWER✅✅Performance
Consulting
Which is NOT one of the Core Principles for the Professional Practice of Internal
Auditing? - ACCURATE ANSWER✅✅Provides error free judgment
Which is not true regarding the Okurasho? - ACCURATE ANSWER✅✅The
group controlled Japan's stock market.
Which is not true regarding the Ministry of Finance (MOF)? - ACCURATE
ANSWER✅✅They were not held responsible for huge government bailouts.
Low audit fees in Japan resulted in all of the following EXCEPT: - ACCURATE
ANSWER✅✅Improved profitability for Japanese firms.
Some Japanese auditors subordinated their judgment to others due to all of the
following EXCEPT: - ACCURATE ANSWER✅✅Low audit fee payments.
, All of the following led to a credibility crisis for Japan's independent audit function
EXCEPT: - ACCURATE ANSWER✅✅New regulatory structure for the public
accounting profession.
The internal audit activity must evaluate the effectiveness and contribute to the
improvement of risk management processes. (T/F) - ACCURATE
ANSWER✅✅True
Determining whether risk management processes are effective is a judgment
resulting from the internal auditor's assessment of all of the following EXCEPT: -
ACCURATE ANSWER✅✅All risks have effective controls.
Risk management processes are monitored through: - ACCURATE
ANSWER✅✅Both ongoing management activities and separate evaluations.
The internal audit activity must evaluate risk exposures relating to the
organization's governance, operations, and information systems regarding all of the
following EXCEPT: - ACCURATE ANSWER✅✅Management of risks by the
internal audit department.
Which of the following is false? - ACCURATE ANSWER✅✅Internal auditors
are ultimately responsible for the management of organizational risk.
Which is not a limitation of Enterprise Risk Management (ERM)? - ACCURATE
ANSWER✅✅Absolute assurance of achievement of entity objectives.
Which is not a risk response of Enterprise Risk Management (ERM)? -
ACCURATE ANSWER✅✅Align mission with risk appetite.
