21) Which of the following is not an example of an IT general control?

A) IT governance

B) System development process

C) Backup and recovery

D) Programmed edit checks

E) Program change management

22) Which of the following is not true about corporate governance?

A) It involves stakeholders others than shareholders

B) It provides incentives for management to pursue objectives in the interest of the company

C) There are multiple models of corporate governance

D) Its sole objective is to maximize stock price

E) It involves monitoring of performance

23) According to the IPPF which of the following is true about organizational independence?

A) It deals with where internal auditing reports in the organization

B) Auditors cannot subordinate their judgment on audit matters to others

C) It requires impartiality

D) It is mandatory for internal auditing to report to the audit committee

E) It is the foundation for the other principles in the Code of Ethics

24) Which of the following would not be part of a corporate risk assessment audit?

A) Evaluate whether there is a clearly defined risk management policy

B) Test the internal controls over procurement

C) Evaluate whether risk management is integrated with the business planning process

D) Evaluate whether the risk management policy is understood

E) None of the above

25) What would not be an internal control deficiency in the control environment?

A) Lack of an adequate performance monitoring system

B) Absence of a code of conduct

C) Undue influence by management

D) Lack of succession planning

E) Controls do not address segregation of duties