IIA-Certified Financial Services Auditor Set 5

Visa and MasterCard have teamed up to develop payment card Industry ( PCI) Data Security standards to govern the safekeeping of account information. Which of the following is NOT out of the major goals of PCI standards?

I- Restrict access to data by business need-to-know II- Assign Unique ID t each person with computer access III-Restrict physical access to cardholder data The above requirements of PCI (Payment Card Industry) achieve which one of the following goals?

Cash equivalent may include:

Cash on hand refers to:

Due from bank balances are used to:

When looking at account receivables auditors should ensure:

At the end of the day all funds in a non-interest bearing checking account are cleared out and moved into a short-term investment account overnight. At the
beginning of the next day, those funds are put back into the regular account for use that day. Such accounts are called:

Workpapers serve as the connecting link between the audit assignment, the auditor's fieldwork, and the final report. Most importantly, the workpapers document the auditor's conclusions and the reasons those conclusions were reached. Workpapers also provide a basis for demonstrating compliance with the IIA's Standards.
Among other things, workpapers may include all of the following EXCEPT:

The reliability (competence) of evidence gathered by auditors is a __________. The reliability of evidence is a key factor in the audit analysis. Relevance is also a key factor in determining the quality of evidence.

Continuous monitoring in systems and networks is a by-product of the increasing demand for immediate and continuous access to reliable information.
Advancements in information monitoring and analysis are being accelerated both by increasing demands for timely and accurate information and by advances in technology that contribute to the: