ACC 312G - Exam One Study Guide
Questions and answers | 2024/25
Which part of the Certified Public Accountant (CPA) exam has the lowest passing rate?
- Auditing and Attestation (AUD)
Which is NOT a way to meet the educational requirements to become a Certified Public
Accountant (CPA) in the State of Utah? - 120 semester hours from an AACSB
accredited program
Which is NOT a requirement for becoming a Certified Internal Auditor (CIA)? -
Masters degree
ACC 312G-International Internal Auditing helps prepare one mainly for which one of the
three part Certified Internal Auditor (CIA) exam? - Part 1-Internal Audit Basics
ACC 4130-Case Studies in Internal Auditing helps prepare one mainly for which one of
the three part Certified Internal Auditor (CIA) exam? - Part 2-Internal Audit Practice
Which is not part of the mandatory guidance for the International Professional Practices
Framework? - Implementation Guidance
Which is not part of the Definition of Internal Auditing? - Confidentiality
If the first digit of a Standard is 2, what type of standard is it? - Performance
What type of Standard is 2410.C1? - Performance Consulting
Which is NOT one of the Core Principles for the Professional Practice of Internal
Auditing? - Provides error free judgment
Which is not true regarding the Okurasho? - The group controlled Japan's stock
market
Which is not true regarding the Ministry of Finance (MOF)? - The MOF was not held
responsible for huge government bailouts
Low audit fees in Japan resulted in all of the following EXCEPT: - Improved
profitability for Japanese firms
Some Japanese auditors subordinated their judgment to others due to all of the
following EXCEPT: - Low audit fee payments
, All of the following led to a credibility crisis for Japan's independent audit function
EXCEPT: - New regulatory structure for the public accounting profession
An internal auditor who knowingly is a party to an illegal activity violates which rule of
conduct? - Integrity
An internal auditor who accepts anything that may impair his or her independence
violates which rule of conduct? - Objectivity
An internal auditor who does not continue to improve her or his proficiency violates
which rule of conduct? - Competency
An internal auditor who uses information for personal gain violates which rule of
conduct? - Confidentiality
An internal auditor who does not disclose all material facts violates which rule of
conduct? - Objectivity
Which is not a limitation of Enterprise Risk Management (ERM)? - Absolute
assurance of achievement of entity objectives
Which is not a risk response of Enterprise Risk Management (ERM)? - Align mission
with risk appetite
Enterprise Risk Management (ERM) attempts to maximize value in all of the following
areas EXCEPT: - Eliminates organizational uncertainty
After the organization identifies events that may impact organizational objectives, the
next step is to - Assess impact of the event
Contingency plans should be made for events for - High impact threats with a low
likelihood of occurring
Critics were concerned that working conditions in Nike's Far Eastern production
facilities were all of the following except: - Non union
Nike's production facilities were principally located in all of the following countries
except: - Korea
Nike's code of conduct required "business partners" to do all of the following except: -
Satisfy U.S. labor standards
Which of the following were not improper practices or incidents reported by Ernst and
Young? - Refusal to pay wages for current employees
Questions and answers | 2024/25
Which part of the Certified Public Accountant (CPA) exam has the lowest passing rate?
- Auditing and Attestation (AUD)
Which is NOT a way to meet the educational requirements to become a Certified Public
Accountant (CPA) in the State of Utah? - 120 semester hours from an AACSB
accredited program
Which is NOT a requirement for becoming a Certified Internal Auditor (CIA)? -
Masters degree
ACC 312G-International Internal Auditing helps prepare one mainly for which one of the
three part Certified Internal Auditor (CIA) exam? - Part 1-Internal Audit Basics
ACC 4130-Case Studies in Internal Auditing helps prepare one mainly for which one of
the three part Certified Internal Auditor (CIA) exam? - Part 2-Internal Audit Practice
Which is not part of the mandatory guidance for the International Professional Practices
Framework? - Implementation Guidance
Which is not part of the Definition of Internal Auditing? - Confidentiality
If the first digit of a Standard is 2, what type of standard is it? - Performance
What type of Standard is 2410.C1? - Performance Consulting
Which is NOT one of the Core Principles for the Professional Practice of Internal
Auditing? - Provides error free judgment
Which is not true regarding the Okurasho? - The group controlled Japan's stock
market
Which is not true regarding the Ministry of Finance (MOF)? - The MOF was not held
responsible for huge government bailouts
Low audit fees in Japan resulted in all of the following EXCEPT: - Improved
profitability for Japanese firms
Some Japanese auditors subordinated their judgment to others due to all of the
following EXCEPT: - Low audit fee payments
, All of the following led to a credibility crisis for Japan's independent audit function
EXCEPT: - New regulatory structure for the public accounting profession
An internal auditor who knowingly is a party to an illegal activity violates which rule of
conduct? - Integrity
An internal auditor who accepts anything that may impair his or her independence
violates which rule of conduct? - Objectivity
An internal auditor who does not continue to improve her or his proficiency violates
which rule of conduct? - Competency
An internal auditor who uses information for personal gain violates which rule of
conduct? - Confidentiality
An internal auditor who does not disclose all material facts violates which rule of
conduct? - Objectivity
Which is not a limitation of Enterprise Risk Management (ERM)? - Absolute
assurance of achievement of entity objectives
Which is not a risk response of Enterprise Risk Management (ERM)? - Align mission
with risk appetite
Enterprise Risk Management (ERM) attempts to maximize value in all of the following
areas EXCEPT: - Eliminates organizational uncertainty
After the organization identifies events that may impact organizational objectives, the
next step is to - Assess impact of the event
Contingency plans should be made for events for - High impact threats with a low
likelihood of occurring
Critics were concerned that working conditions in Nike's Far Eastern production
facilities were all of the following except: - Non union
Nike's production facilities were principally located in all of the following countries
except: - Korea
Nike's code of conduct required "business partners" to do all of the following except: -
Satisfy U.S. labor standards
Which of the following were not improper practices or incidents reported by Ernst and
Young? - Refusal to pay wages for current employees
