AIS Exam 2025 With 100% Correct
Answers
Corruption involves theft of assets for personal gain - CORRECT ANSWER✔✔False
Not even the strongest system of controls can eliminate all risk of organizations being
defrauded by employees who are sufficiently motivated to find loopholes. - CORRECT
ANSWER✔✔True
What percentage of occupational fraud is committed by upper management? - CORRECT
ANSWER✔✔19%
What percentage for frauds are detected by tips? - CORRECT ANSWER✔✔46%
The accounting profession is self-regulated. - CORRECT ANSWER✔✔False
SOX emphasizes a strong system of internal control as a way of avoiding Enron-sized
accounting frauds. - CORRECT ANSWER✔✔True
SOX section 404 requires each annual report of a publicly traded company to
contain an internal control report to contain a assessment of the effectiveness of the companyʹs
internal control structure and procedures. - CORRECT ANSWER✔✔True
Which organization was created by the Sarbanes-Oxley Act of 2002? - CORRECT
ANSWER✔✔Public Company Accounting Oversight Board
(PCAOB)
, Which SOX section requires the public accounting firm that audits the financial statements
of the company to issue an attestation report regarding the effectiveness of the company's
internal controls? - CORRECT ANSWER✔✔Section 404. Management Assessment of Internal
Controls
The internal control category control environment includes identifying, analyzing, and
managing risks affecting the ability to report financial data properly. - CORRECT
ANSWER✔✔False
Which COSO Internal Control-Integrated Framework essential component of an effective
internal control system involves identifying, analyzing, and managing risks that affect a
company's ability to record, process, summarize, and report financial data properly? - CORRECT
ANSWER✔✔Risk Assessment
Which COSO Internal Control-Integrated Framework essential component of an effective
internal control system includes the accounting system for identifying, recording, processing,
and
reporting transactions and financial data? - CORRECT ANSWER✔✔Information and
Communication
Which COSO Internal Control-Integrated Framework essential component of an effective
internal control system involves assessing internal controls as well as the process for taking
corrective action? - CORRECT ANSWER✔✔Monitoring
Internal controls for the accounting system are incomplete without IT controls. - CORRECT
ANSWER✔✔True
Answers
Corruption involves theft of assets for personal gain - CORRECT ANSWER✔✔False
Not even the strongest system of controls can eliminate all risk of organizations being
defrauded by employees who are sufficiently motivated to find loopholes. - CORRECT
ANSWER✔✔True
What percentage of occupational fraud is committed by upper management? - CORRECT
ANSWER✔✔19%
What percentage for frauds are detected by tips? - CORRECT ANSWER✔✔46%
The accounting profession is self-regulated. - CORRECT ANSWER✔✔False
SOX emphasizes a strong system of internal control as a way of avoiding Enron-sized
accounting frauds. - CORRECT ANSWER✔✔True
SOX section 404 requires each annual report of a publicly traded company to
contain an internal control report to contain a assessment of the effectiveness of the companyʹs
internal control structure and procedures. - CORRECT ANSWER✔✔True
Which organization was created by the Sarbanes-Oxley Act of 2002? - CORRECT
ANSWER✔✔Public Company Accounting Oversight Board
(PCAOB)
, Which SOX section requires the public accounting firm that audits the financial statements
of the company to issue an attestation report regarding the effectiveness of the company's
internal controls? - CORRECT ANSWER✔✔Section 404. Management Assessment of Internal
Controls
The internal control category control environment includes identifying, analyzing, and
managing risks affecting the ability to report financial data properly. - CORRECT
ANSWER✔✔False
Which COSO Internal Control-Integrated Framework essential component of an effective
internal control system involves identifying, analyzing, and managing risks that affect a
company's ability to record, process, summarize, and report financial data properly? - CORRECT
ANSWER✔✔Risk Assessment
Which COSO Internal Control-Integrated Framework essential component of an effective
internal control system includes the accounting system for identifying, recording, processing,
and
reporting transactions and financial data? - CORRECT ANSWER✔✔Information and
Communication
Which COSO Internal Control-Integrated Framework essential component of an effective
internal control system involves assessing internal controls as well as the process for taking
corrective action? - CORRECT ANSWER✔✔Monitoring
Internal controls for the accounting system are incomplete without IT controls. - CORRECT
ANSWER✔✔True
