Question 1

Which of the following is not part of the four main objectives of IT governance?

Accepted Answer

A)  Ensuring the organisation has appropriate management strategies and techniques in place for dealing with IT related risks.
B)  Ensuring that the IT being used or adopted within an organisation is consistent with the organisation's goals and meets expectations.
C)  Ensuring the organisation's IT resource are used responsibly.
D)  Using IT to make the most of future business opportunities and benefits.E) None of the above
F) B) and D)

Question 2

The basis that the firm's information system rests upon is called:

Accepted Answer

A)  IT structure
B)  IT architecture
C)  IT infrastructure
D)  IT foundationE) A) and B)
F) A) and C)

Question 3

What part of an organisation determines the corporate governance?

Accepted Answer

A)  shareholders
B)  board of directors
C)  employees
D)  GovernmentE) None of the above
F) B) and C) B

Question 4

In terms of IT governance,what are the five specific areas within the objectives of IT governance that need to be considered by those with the responsibility of managing IT? Explain in details.

Accepted Answer

Adding value - ensuring that the IT with...

Question 5

The current eight principles for corporate governance outlined by the ASX Corporate Governance Council do not include:

Accepted Answer

A)  Lay solid foundations for management and oversight.
B)  Structure the board to add value.
C)  Promote ethical and responsible decision making.
D)  Respect the rights of customers.E) None of the above
F) B) and D)

Question 6

Control environment is

Accepted Answer

A)  The attitude,emphasis and awareness of an organisation's management towards internal control and its operation within the organisation.
B)  The attitude,emphasis and awareness of the government towards internal control and operations within organisations.
C)  The attitude,emphasis and awareness of the legislative entities towards internal control and operations within organisations.
D)  The attitude,emphasis and awareness of the society towards internal control and operations within organisations.E) All of the above
F) None of the above

Question 7

Organisational decisions about IT infrastructure does NOT necessarily include:

Accepted Answer

A)  what type of processing is required
B)  the location of the processing
C)  the upgradability of the processing
D)  the integration of processingE) B) and D)
F) A) and D)

Question 8

The "plan and organise" stage of the COBIT framework includes:

Accepted Answer

A)  strategies for acquiring and implementing IT solutions
B)  evaluating how the system operates within the organisation
C)  reviewing how well IT systems match the needs of the organisation
D)  deciding which communication standards will be used.E) A) and B)
F) A) and D)

Question 9

Specific components of the control environment to be aware of,as mentioned in ASA 315,do not include:

Accepted Answer

A)  The communication and policing of ethical behaviour in the organisation.
B)  Commitment to competence.
C)  Risk assessment.
D)  Management philosophy and operating style.E) B) and C)
F) A) and D) C

Question 10

Which of the following is a concern of the acquire and implement stage in the COBIT framework?
(i) How various IT solutions are to be acquired by the organisation and how well they map to existing organisational processes.
(ii) The selection and implementation processes that will provide complete assurance that any adopted system will work as intended once implemented and will communicate with existing systems.
(iii) The selection and implementation processes that will provide complete assurance that any adopted system can be put in place on time.
(iv) The selection and implementation processes that will provide complete assurance that any adopted system will meet the business needs.

Accepted Answer

A)  (i) only
B)  (ii) (iv) only
C)  (ii) (iii) (iv) 
D)  (i) (ii) (iii) (iv) E) A) and C)
F) All of the above

Question 11

To which of the following risks are organisations that depend on the Internet for trading through e-commerce particularly vulnerable.

Accepted Answer

A)  risk of network disruption
B)  risk of key suppliers moving to other organisations
C)  risk of new competitors taking market position
D)  risk of unauthorised access to online systemsE) B) and D)
F) B) and C)

Question 12

List and discuss four typical advantages of cloud computing.

Accepted Answer

a.Access to the services is based on a m...

Question 13

Identify and briefly explain the major IT stages in the COBIT framework.

Accepted Answer

Plan and organise.This first stage addre...

Question 14

The external audit will provide reasonable assurance that:

Accepted Answer

A)  transactions that occurred have been carried out efficiently and effectively
B)  assets and liabilities in the financial statements exist and transactions reported actually occurred
C)  assets listed are owned by the organisation and liabilities owed are repaid
D)  amounts on the financial statements have been calculated in accordance with company policiesE) B) and C)
F) C) and D)

Question 15

ERM stands for:

Accepted Answer

A)  Enterprise Resource Management
B)  Enterprise Risk Management
C)  Enterprise Resource Model
D)  Enterprise Risk ModelE) A) and B)
F) None of the above

Question 16

What are the eight principles for corporate governance outlined by the ASX Corporate Governance Council?

Accepted Answer

Lay solid foundations for management and...

Question 17

Who is responsible for setting the tone in which control policies within an organisation will function?

Accepted Answer

A)  Internal auditors
B)  External auditors
C)  Top management
D)  Shareholder committeesE) C) and D)
F) A) and C) C

Question 18

Which of the following is NOT one of the principles identified in the IT governance standard released by Standards Australia that encapsulate the domain of IT governance?

Accepted Answer

A)  Ensure ICT performs well,with performance including the satisfaction of business needs,responding to changing business needs and being a reliable support for organisational activities whenever required.
B)  Ensure ICT conforms with any external obligations as well as any internal policies that may exist in the organisation.
C)  Put in place well understood responsibilities for ICT throughout the organisation and the greater society.
D)  Ensure ICT use respects human factors,particularly the meeting of the needs of the different system stakeholders.E) B) and C)
F) A) and B)

Question 19

In corporate governance principles,remunerate fairly and responsibly means:

Accepted Answer

A)  All board members should be paid the same amount of remuneration.
B)  All employees of an organisation should be paid fairly.
C)  The organisation should be able to demonstrate a clear link between company performance and executive remuneration.
D)  The organisation should be able to demonstrate a clear link between employee performance and employee remuneration.E) None of the above
F) A) and D)

Question 20

List and briefly discuss at least four specific components of the control environment to be aware of,as mentioned in ASA 315.

Accepted Answer

The communication and policing of ethica...

Exam 7: Internal Controls I

Which of the following is not part of the four main objectives of IT governance?

Correct Answer
verified

The basis that the firm's information system rests upon is called:

Correct Answer
verified

What part of an organisation determines the corporate governance?

Correct Answer
verified
B

In terms of IT governance,what are the five specific areas within the objectives of IT governance that need to be considered by those with the responsibility of managing IT? Explain in details.

Correct Answer
verified
Adding value - ensuring that the IT with...
View Answer

The current eight principles for corporate governance outlined by the ASX Corporate Governance Council do not include:

Correct Answer
verified

Control environment is

Correct Answer
verified

Organisational decisions about IT infrastructure does NOT necessarily include:

Correct Answer
verified

The "plan and organise" stage of the COBIT framework includes:

Correct Answer
verified

Specific components of the control environment to be aware of,as mentioned in ASA 315,do not include:

Correct Answer
verified
C

Correct Answer
verified

To which of the following risks are organisations that depend on the Internet for trading through e-commerce particularly vulnerable.

Correct Answer
verified

List and discuss four typical advantages of cloud computing.

Correct Answer
verified
a.Access to the services is based on a m...
View Answer

Identify and briefly explain the major IT stages in the COBIT framework.

Correct Answer
verified
Plan and organise.This first stage addre...
View Answer

The external audit will provide reasonable assurance that:

Correct Answer
verified

ERM stands for:

Correct Answer
verified

What are the eight principles for corporate governance outlined by the ASX Corporate Governance Council?

Correct Answer
verified
Lay solid foundations for management and...
View Answer

Who is responsible for setting the tone in which control policies within an organisation will function?

Correct Answer
verified
C

Which of the following is NOT one of the principles identified in the IT governance standard released by Standards Australia that encapsulate the domain of IT governance?

Correct Answer
verified

In corporate governance principles,remunerate fairly and responsibly means:

Correct Answer
verified

List and briefly discuss at least four specific components of the control environment to be aware of,as mentioned in ASA 315.

Correct Answer
verified
The communication and policing of ethica...
View Answer

Exam 7: Internal Controls I

Which of the following is not part of the four main objectives of IT governance?

Correct AnswerverifiedShow Answer

The basis that the firm's information system rests upon is called:

Correct AnswerverifiedShow Answer

What part of an organisation determines the corporate governance?

Correct AnswerverifiedB

In terms of IT governance,what are the five specific areas within the objectives of IT governance that need to be considered by those with the responsibility of managing IT? Explain in details.

Correct AnswerverifiedAdding value - ensuring that the IT with...View AnswerShow Answer

The current eight principles for corporate governance outlined by the ASX Corporate Governance Council do not include:

Correct AnswerverifiedShow Answer

Control environment is

Correct AnswerverifiedShow Answer

Organisational decisions about IT infrastructure does NOT necessarily include:

Correct AnswerverifiedShow Answer

The "plan and organise" stage of the COBIT framework includes:

Correct AnswerverifiedShow Answer

Specific components of the control environment to be aware of,as mentioned in ASA 315,do not include:

Correct AnswerverifiedC

Correct AnswerverifiedShow Answer

To which of the following risks are organisations that depend on the Internet for trading through e-commerce particularly vulnerable.

Correct AnswerverifiedShow Answer

List and discuss four typical advantages of cloud computing.

Correct Answerverifieda.Access to the services is based on a m...View AnswerShow Answer

Identify and briefly explain the major IT stages in the COBIT framework.

Correct AnswerverifiedPlan and organise.This first stage addre...View AnswerShow Answer

The external audit will provide reasonable assurance that:

Correct AnswerverifiedShow Answer

ERM stands for:

Correct AnswerverifiedShow Answer

What are the eight principles for corporate governance outlined by the ASX Corporate Governance Council?

Correct AnswerverifiedLay solid foundations for management and...View AnswerShow Answer

Who is responsible for setting the tone in which control policies within an organisation will function?

Correct AnswerverifiedC

Which of the following is NOT one of the principles identified in the IT governance standard released by Standards Australia that encapsulate the domain of IT governance?

Correct AnswerverifiedShow Answer

In corporate governance principles,remunerate fairly and responsibly means:

Correct AnswerverifiedShow Answer

List and briefly discuss at least four specific components of the control environment to be aware of,as mentioned in ASA 315.

Correct AnswerverifiedThe communication and policing of ethica...View AnswerShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
B

Correct Answer
verified
Adding value - ensuring that the IT with...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
C

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
a.Access to the services is based on a m...
View Answer

Correct Answer
verified
Plan and organise.This first stage addre...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Lay solid foundations for management and...
View Answer

Correct Answer
verified
C

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The communication and policing of ethica...
View Answer