IIA-Certified Financial Services Auditor Set 2

Organization's Objectives are described in three general categories:

The plans developed for the audit functions should be updated as circumstances dictate. Such specific types of plans include all EXCEPT:

Which one of the following statements is NOT the part of audit work schedule?

Risk is the probability that an event or action may adversely affect the organization or activity under review. In other words, risk is anything that can prevent an organization from achieving an objective. Major components of risk are as follows EXCEPT:

The extent to which an organization has implemented controls to minimize the actual occurrences of the risk determines the vulnerability to the risk actually
occurring, or the "_______"

The major benefit of risk assessment is:

The risk analysis process involves all of the following steps EXCEPT:

Which of the following steps is/are NOT considered in the audit planning process?

Following is a list of background items auditors should review to determine their impact on audit objectives EXCEPT:

Auditors can use background information to define and modify: