Question
1. A sample internal control questionnaire question may ask about ______ inherent in the investment policy? a. Clients b. Risk c. People d. Money e.
1. A sample internal control questionnaire question may ask about ______ inherent in the investment policy?
a. Clients
b. Risk
c. People
d. Money
e. Dollars
2. An important step in testing investments is to ensure all persons with access to investments are properly ______?
a. Measured
b. Bonded
c. Adjusted
d. Observed
e. Audited
3. An investment committee is a standing committee of _______
a. Employees
b. The board of directors
c. Human resources
d. Development staff
e. Executives
4. After testing internal controls related to investments, it may be necessary to ______ the risk of material misstatements.
a. Ignore
b. Modify
c. Skip
d. Erase
e. Delete
5. Sometimes auditors may ______ securities on hand.
a. Purchase
b. Consider
c. Inspect
d. Sell
e. Disallow
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