Auditing Corporate Governance MCQs and Notes

M

Mr. Dubey • 52.61K Points
Coach

Q 121. EDP audit means when an audit is conducted in a computer information systems (CIS) environment. According to SA-401

(A) ASS-29

(B) AAS-29

(C) ASS-28

(D) AAS-28

M

Mr. Dubey • 52.61K Points
Coach

Q 122. We need to conduct management audit for

(A) Taking over and reviving sick units

(B) Helps in foreign collaboration

(C) (a) and (b)

(D) None of the above .

M

Mr. Dubey • 52.61K Points
Coach

Q 123. What does the Sarbanes-Oxley Act of 2002 stipulates?

(A) The company should appoint independent financial experts to its audit committee

(B) A public account oversight board to be created

(C) CEO and CFO sign off the company‟s financial statements

(D) All of the above

M

Mr. Dubey • 52.61K Points
Coach

Q 124. Which of the following is not a OECD principle

(A) The responsibilities of the government and bureaucrats

(B) Ensuring the basis for an effective corporate governance framework

(C) Disclosure and transparency

(D) The equitable treatment of shareholders

M

Mr. Dubey • 52.61K Points
Coach

Q 125. Good corporate governance helps to minimize:

(A) Wastages

(B) Corruption

(C) Risks and mismanagement

(D) All of the above

M

Mr. Dubey • 52.61K Points
Coach

Q 126. The goal of corporate governance and business ethics education is to:

(A) Teach students their professional accountability and to uphold their personal Integrity to society

(B) Change the way in which ethics is taught to students

(C) Create more ethics standards by which corporate professionals must operate

(D) Increase the workload for accounting students

M

Mr. Dubey • 52.61K Points
Coach

Q 127. The primary stakeholders are:

(A) Customers

(B) Suppliers.

(C) Shareholders

(D) Creditors

M

Mr. Dubey • 52.61K Points
Coach

Q 128. The corporate governance framework consists of explicit and implicit contracts between

(A) Company and the stakeholders

(B) Management and State government

(C) Stakeholders and Management

(D) None of the above

M

Mr. Dubey • 52.61K Points
Coach

Q 129. The corporate governance structure of a company reflects the individual companies is

(A) Cultural and economic system

(B) Legal and business system

(C) Social and regulatory system

(D) All of the above

M

Mr. Dubey • 52.61K Points
Coach

Q 130. Objective of management audit are

(A) To evaluate the performance by relating inputs with output

(B) To obtain efficiency and effectiveness of management

(C) Only (b)

(D) (a) and (b).