Question 1

Toll Group has thousands of end-of-life IT assets that need to be disposed of. The senior management of Toll Group is largely concerned about sustainability in waste management, especially electronic waste. Before selecting a supplier to manage the process, the procurement team is required to assess the environmental risks regarding disposal of the assets. Risk assessment is basically based on the measurement of which factors?

Options :

A : Impact

B : Reward

C : Surveillance

D : Likelihood

E : 2 and 4 only

F : 1 and 3 only

G : 2 and 3 only

H : 1 and 4 only

Answer: H

Question 2

Which of the following is included in the G20/OECD Principles of Corporate Governance?

Options :

A :

A requirement for corporations to establish a legal, regulatory, and institutional framework to support good governance practices

B : A call to support the equal treatment of all members of an organization's governing body

C : Guidance regarding appropriate board structures, responsibilities, and procedures

D :

An examination of the importance of effectively designed and implemented internal control mechanisms within an organization

Answer: C

Question 3

To reinforce an anti-fraud culture, it is BEST for an organization's management to:

Options :

A : Use a checklist of initiatives to ensure that all the elements of a strong corporate culture are in place.

B : Require senior leaders to follow the same ethics policies that are in place for all staff-level employees.

C :

Discourage employees from questioning their immediate supervisor's actions or decisions if they have concerns.

D : Discipline any employees who publicly express their frustration regarding organizational policies.

Answer: B

Question 4

Professional auditing standards require that auditors incorporate an "element of unpredictability" in the selection of auditing procedures to be performed.

Options :

A : True

B : False

Answer: A

Question 5

In identifying the inherent fraud risks that could apply to the organization, the fraud risk assessment team should discuss:

Options :

A : The organization's incentive programs

B : The possibility of management's override of controls

C : Risks to the organization's reputation

D : All of the above

Answer: D

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