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auditing assurance services
Questions and Answers of
Auditing Assurance Services
What is meant by the resolution of a performance measurement tool? Why is the level of its resolution important?
Briefly explain the difference between an event-driven performance measurement tool and a sampling measurement tool. What are their relative advantages and disadvantages?
Briefly explain the nature of a hardware monitor.
Why does a hardware monitor have greater resolution than a software monitor?
Give two factors that limit the domain of a hardware monitor. Briefly explain how they limit the domain.
Briefly explain the nature of a software monitor.
Briefly explain the difference between an operating system monitor and a program analyzer.
Briefly explain the difference between an event-driven software monitor and a sampling software monitor. What are the relative advantages and disadvantages of each type of monitor?
Why is the accounting system incorporated into an operating system considered to be a software monitor? Give one strength and one limitation of using the accounting system for performance evaluation
How do the domains of hardware and software monitors differ? Give an example of an event that most likely would be only in the domain of a hardware monitor, one that most likely would be only in the
Theoretically, the input width of a software monitor is unlimited.Practically, however, it is limited by the extent of interference it produces. Explain.
Briefly explain what is meant by time and space artifact.
Are hardware monitors more portable than software monitors? Why?
Briefly explain the nature of a firmware monitor. How does a firmware monitor differ from a software monitor?
Give two advantages that firmware monitors have over software monitors. What problems could arise because of the high resolution capabilities that firmware monitors possess?
Briefly explain the nature of a hybrid monitor.
Why do hybrid monitors produce a lower artifact than software monitors but a higher artifact than hardware monitors?
How are Gantt charts used to present performance measurement results?
What is a Kiviat graph? How are Kiviat graphs used to present performance measurement results?
What is meant by instrumenting a system for performance measurement? Why is it desirable for vendors to consider instrumentation during the design stages of a computer system?
What problems arise during performance measurement if a system is incorrectly instrumented? How can incorrect instrumentation be detected in a hardware monitor and a software monitor?
Give two advantages of using a software monitor that instruments a system automatically,
Why is it important to control who gains access to a performance monitor? Why is a performance monitor a likely target for someone wishing to carry out unauthorized activities in a computer system?
Which of the following is least likely to be a purpose of using a performance measurement tool with a computer system?a. Developing a tuning therapy to improve performanceb. Estimating the value of
Which of the following is most likely to be considered a performance indice when undertaking performance measures in a computer system?a. Arrival rate of users at terminalsb. Average number of errors
The structural element of a performance monitor that determines the subset of activities to be measured is the:a. Selectorb. Processorc. Sensord. Recorder
The type of measurement whereby the real time consumed by an event is monitored is called:a. An event frequency measurementb. A trace measurementc. A relative frequency measurementd. An event
Monitor artifact is:a. The noise present in the set of measurements taken when the system is under loadb. The extent to which the presence of the monitor interferes with the normal system
The set of resource consumption activities that the monitor can detect is called the:a. Monitor resolutionb. Monitor precisionc. Monitor input widthd. Monitor domain
Monitor resolution indicates:a. The maximum frequency at which events can be detected and recorded correctlyb. The percentage of measurements that are likely to be incorrectc. The number of bits of
The hardware monitor component that performs a test on two or more registers in the target system and outputs a signal depending on the result of the test is called a:a. Probeb. Concentratorc.
Which of the following statements about hardware monitors is false?a. The size of their domain is affected by the architectural design of the target systemb. They primarily introduce time artifact
The primary purpose of the vendors of a hardware monitor providing a library of probe points for users of their monitor is:a. To ensure the target system is instrumented correctlyb. To reduce the
Which of the following is a limitation of hardware monitors?a. They are unable to trace some types of software-related eventsb. They introduce a high monitor artifact into the target systemc. They
Which of the following statements about operating system monitors versus program analyzers is most likely to be true?a. Operating system monitors are more likely to be sampling-based monitors than
Sampling software monitors collect performance data when:a. Some type of event occurs internally to the system or programb. A signal is received from some type of timing devicec. A state change
With a sampling software monitor, a decision on the sampling rate is least likely to be based on:a. The required accuracy of the estimatesb. The cost of monitor artifact introduced by the samplingc.
Relative to hardware monitors, software monitors are more likely to have a:a. Smaller artifactb. Smaller input widthc. Larger domaind. Higher resolution
Relative to a source-instrumented software monitor, a run-time-instrumented software monitor:a. Introduces more artifactb. Gives users less control over the data collectedc. Is less portabled. Is
Relative to software monitors, which of the following is not an advantage of using a hybrid monitor?a. Lower interferenceb. Greater access to hardware indicatorsc. More probesd. Higher resolution
The most likely purpose of the hardware component of a hybrid monitor is to:a. Store and present the performance data collectedb. Instrument the target systemc. Pass data to the memory busd. Write
Which of the following is a limitation of hybrid monitors?a. Higher artifact than hardware monitorsb. Smaller domain than firmware monitorsc. Harder to instrument a system than a software monitord.
Which of the following goals can not be accomplished when Gantt charts are used to display performance measurement data?a. To show the extent of overlap of utilization among resourcesb. To show the
If a Kiviat graph shows a symmetric star, the target system is:a. Overloadedb. Balancedc. Underutilizedd. Unbalanced
Which of the following is least likely to occur as a result of incorrect instrumentation of a target system for performance measurement purposes?a. The integrity of processes in the host system is
You are the manager of internal audit for a medium-sized financial institution. Your organization has grown rapidly over the past few years, and management believes this growth will continue for at
As more users are added to an interactive system, response times get longer. The project manager responsible for the system is perplexed because he believes the system should be able to cope with
Grouse and Whistler Credit Union (G \& W) is a Vancouver-based credit union set up by a number of skiing clubs to service the financial needs of their members. The management of G \& W is aggressive,
In an effort to decrease the backlog of information systems that need development within your organization, senior management has supported the growth of end-user computing. So far, most developments
The following performance measurement data pertains to two systems, A and B:Required: Draw Gantt charts and Kiviat graphs to show the performance measurement data for the two systems. What
You are the manager of internal audit for a large financial institution that uses advanced computer systems: distributed systems, online real-time update systems, database management systems, and so
List three measures of data integrity and give an example where each measure would be used. Briefly explain why measures of data integrity often need to be expressed probabilistically.
Why should auditors consider the variance of the probability distribution of error that a system could produce?
Briefly explain the nature of the global evaluation decision on whether a system safeguards assets or maintains data integrity.
At what points during an audit do auditors have to make the global evaluation decision?
List four categories of factors that are likely to affect auditors' performance when making the global evaluation decision.
Briefly describe some heuristics that auditors might use, perhaps unknowingly, to make the global evaluation decision. How might these heuristics undermine the quality of global evaluation judgment?
Briefly explain the different effects that general knowledge and specific knowledge can have on the quality of auditors' global evaluation judgments when they undertake an audit.
Briefly explain how the following two characteristics of the audit environment can have an impact on the quality of auditors' global evaluation judgments:a. Technologyb. Group processes
Briefly explain how prior involvement in an audit could affect auditors' motivation to undertake the audit.
How does the level of motivation auditors have during the conduct of an audit affect (a) the effort they exert to perform an audit task and (b) the cognitive processes they use to perform the audit
Briefly explain the nature of a control matrix. How can auditors use a control matrix to assist making the global evaluation judgment on whether a system safeguards assets and maintains data
Briefly explain the nature and purpose of deterministic models designed to assist auditors to make the evaluation decision on how well a system safeguards assets and maintains data integrity. Outline
During the test of a program, an auditor discovers that the program incorrectly calculates the discount given for certain types of customers. Outline how the total amount of dollar error that results
Briefly explain what is meant by a mean value and an extreme value deterministic model for evaluating data integrity. Under what circumstances might auditors use each type of model?
Briefly explain the nature of the following types of software reliability models:a. Time-between-failures modelsb. Failure-count modelsc. Fault-seeding models
How can auditors use software reliability models to help them make the global evaluation judgment on how well a system maintains data integrity?
In the context of engineering reliability models of internal control systems, briefly explain in words what is meant by the overall reliability of a system of internal control.
How are engineering reliability models useful to auditors? What problems are auditors likely to encounter if they use them in practice?
In engineering reliability models, define the following terms:a. \(R_{i}\)b. \(P\left(e_{i j}\right)\)c. \(P\left(c_{i j}\right)\)d. \(\left(1-p_{i}\right)\)e. \(\mathrm{Ne} e_{i r}\)f. \(T_{r}\)g.
Briefly describe the nature of a Bayesian decision-making model as it applies to the evaluation of an internal control system. Can the Bayesian approach be used to evaluate the reliability of a
If \(P(F \mid \mathrm{R})\) is the probability of a favorable test result given an internal control system is reliable and \(P(\mathrm{~F} \mid \mathrm{U})\) is the probability of a favorable test
The flowchart in Figure 21-8 shows the simulation program iterating 1,000 times. Why is it necessary to iterate 1,000 times through the year's transactions? Outline one method auditors might use to
What circumstances would lead auditors to construct a simulation model rather than use an engineering reliability model to evaluate whether an internal control system safeguards assets and maintains
Give two ways in which expert systems might be used to assist auditors when they have to make the global evaluation judgment on how well a system safeguards assets and maintains data integrity.
What do we mean by expert systems often being brittle? What implications does their brittleness have when auditors use them to assist making the global evaluation judgment on how well a system
Why must maintenance of asset safeguarding and data integrity be considered within a cost-effectiveness framework
Briefly explain the major costs involved in implementing and operating an internal control system. How are the benefits of an internal control system assessed?
How can a controls matrix be used to assist auditors to determine whether a cost-effective internal control system is being used to safeguard assets and to maintain data integrity?
Briefly explain how the implementation and operation of an internal control system can be characterized as an investment decision. What discount rate should auditors use if they evaluate an internal
The shape of the probability distribution of error that an internal control system could produce is important because it indicates the:a. Risk auditors face when they make a decision about the
Which of the following statements about the global evaluation judgment on maintenance of asset safeguarding and data integrity is most likely to be false?a. It must be made at both the subsystem and
When auditors make a global evaluation judgment, they might unconsciously use the availability heuristic, which means that they will:a. Adjust their initial estimate of the likelihood of an event
Which of the following is least likely to require specialized knowledge to make a high-quality audit judgment?a. The evaluation of cutoff transactions associated with a sales system to determine
Our prior involvement with an audit is most likely to affect:a. The extent of effort we are likely to exert during the auditb. Whether we use group processes during the auditc. Whether we focus on
In a matrix conceptualization of the evaluation judgment in which the rows are controls and the columns are causes of loss, the row evaluation judgment involves determining:a. Whether each control
Deterministic models for evaluating the overall reliability of internal control systems are most likely to be useful when:a. The systems comprise more manual components than computer-based
A software reliability model that attempts to predict the number of failures that will occur in a system during a fixed testing interval is a:a. Fault-seeding modelb. Mean-error-time modelc.
What is the variable \(P(e)\) in the following reliability formula:\[R=p+(1-p) P (e) \mathrm{P}(c)\]a. Probability of an errorb. Probability of a control signaling an error or irregularityc.
Given that a system can only experience two error and irregularity types and that \(R_{1}=.7\) and \(R_{2}=.9\), the overall reliability of the system is:a. 63b. 9c. 7d. 16
Given the following values:\[\begin{array}{lll}p_{1}=.8 & p_{2}=.9 \\P\left(e_{11}\right)=.9 & P\left(e_{21}\right)=.8 \\ P\left(c_{11}\right)=.7 & P\left(c_{21}\right)=.9 \\
What is the variable \(T_{r}\) in the following formula that calculates the dollar error produced?\[A_{i}=N e_{i r} \cdot V e_{i} \cdot T_{r}\]a. Tolerance of the \(r\) th controlb. Number of errors
Which of the following is most likely to be the major reason for using Bayesian models to evaluate the reliability of an internal control system?a. They are the cheapest and most reliable analytical
Assume that an auditor is evaluating the reliability of a control. The auditor's prior probability of the control being reliable is .95 . A test is undertaken, however, and the test result indicates
Which of the following is most likely to be the reason for auditors to use a simulation model instead of an analytical model to assist them to evaluate how well a system safeguards assets or
Which of the following is not likely to be the reason for auditors to use an expert system to assist them to evaluate how well a system safeguards assets or maintains data integrity?a. The quality of
Which of the following is an implementation cost for an internal control system?a. Wages of a specialist employed to maintain physical securityb. Cost of an undetected error in a communications
Which of the following is most likely to be a difficulty when using a controls matrix to evaluate whether the most cost-effective set of controls has been used in an internal control system?a. Not
When evaluating whether an investment in a control system is worthwhile, the term \(\beta\) in the formula used to calculate the discount rate is:a. The risk-free rate of returnb. Weighted cost of
The Singapura Lion Development Bank (SLDB) is a medium-sized bank that is based in Singapore. It has grown rapidly over the past five years, largely because of the efforts of a young, aggressive
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