Question 1

Which of the following is an example of an internal control weakness?

Options :

A : The contract department staff awards contracts and maintains a database for vendor information.

B : Management policy allows project managers to oversee controls of companies in which they have a material interest.

C : The budget department staff is responsible for preparing the budget and for reporting on budget cost variances.

D : The accounting department has one clerk prepare vendor payments and another clerk reconcile bank accounts.

Answer: B

Question 2

A program manager at a local agency needs to understand if program participation varies significantly from enrollment. The information changes daily. The best way to quickly analyze this would be to use

Options :

A : crosstab.

B : portable document format.

C : text file.

D : dashboard.

Answer: D

Question 3

Which of the following would auditors issue an opinion on?

Options :

A : performance audits

B : compliance audits

C : financial statement audits

D : forensic audits

Answer: C

Question 4

Which of the following statements from an audit finding is the condition?

Options :

A : We identified multiple credit card purchases without receipts to support them.

B : Government policy requires a cardholder to submit receipts for all purchases.

C : Finance Department personnel did not regularly review purchases to ensure compliance.

D : We recommend that the government implements a timely review of all credit card purchases.

Answer: A

Question 5

One of the minimum components of a government financial system is

Options :

A : automated transaction processing.

B : debt-reduction analysis.

C : performance management reporting.

D : general ledger account definition.

Answer: D

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