1. Which is a basic philosophy underlying facilitated workshop approaches to CSA?


A. Effective control should be a shared responsibility involving all employees.
B. Internal control should be solely the responsibility of senior management. 
C. Operational personnel should be independently assessing internal control. 
D. The internal audit department should be primarily responsible for internal control evaluations.

2. Which phrase best describes a control-based CSA process?
A. evaluating, updating, and streamlining selected control processes.
B. examining how well controls are working in managing key risks.
C. analyzing the gap between control design and control frameworks .
D. determining the cost-effectiveness of controls.
3. During a meeting prior to a CSA workshop, the unit manager tells the facilitator that previous attempts at group discussion have met with staff resistance. How should the facilitator respond?
A. Agree that a CSA workshop would be inappropriate.
B. Discuss the reasons for previous resistance and ways to prevent or reduce it.
C. Explain how open participants were in CSA workshops conducted elsewhere in the company. 
D. Reassure the manager that CSA overcomes resistance
4. Which is LEAST likely to impair the implementation of CSA in an organization?
A. using inadequate facilitators.
B. neglecting to use voting software.
C. lacking management support.
D. selecting a complex project for the pilot.
5. How does electronic voting technology contribute to the CSA process?
A. by reducing reliance on facilitators.
B. by automating the CSA process.
C. by promoting anonymity to gather and quantify data.
D. by limiting candidate discussion to topics being voted upon

6. Which is NOT an appropriate action for a CSA facilitator to take?
A. Keep track of time ensuring the group remains on schedule.
B. Concentrate on group dynamics and help the group remain focused.
C. Conduct interviews to gather background information prior to the workshop.
D. Provide the solutions to address control problems identified by the group.
7. How should a CSA workshop facilitator deal with shy or quiet individuals who are not participating in discussions?
A. Encourage them to leave if they are uncomfortable participating.
B. Ask their opinion on a neutral subject to encourage their participation.
C. Go around the room requiring each person's input.
D. Contact them after the workshop to obtain their input.
8. Which statement is true regarding strategies?
A. Strategies describe how a company will achieve its objectives.
B. Strategies apply only to higher-level, broad, corporate initiatives.
C. Strategies are usually developed only by senior executives.
D. Strategies are an optional step in the planning process.
9. When an organization engages in benchmarking, it normally compares its performance to:
A. the average performance of other organizations. 
B. its projected (or budgeted) performance.
C. its performance in a prior period.
D. the performance of a "best in class" organization.

10. For an investor, which best describes the likelihood of currency devaluation in a developing market economy?
A. organizational risk
B. external risk
C. control risk
D. operational risk
11. Which must be part of any risk model involving inventory valuation?
A. product warranty policies
B. vendor pricing policies
C. inventory shrinkage expense
D. annual sales forecasts
12. Vertical integration to reduce supplier risk is an example of which risk technique?
A. sharing supplier risk.
B. avoiding supplier risk.
C. diversifying supplier risk.
D. hedging supplier risk

13. Which component is the foundation of the COSO framework?
A. monitoring
B. control activities
C. control environment
D. information and communication
14. What is the purpose of a control chart?
A. to provide a visual summary of the organization's system of controls.
B. to keep track of the major control concerns facing the organization.
C. to signal when a process is outside the limits of acceptable variation.
D. to assign responsibility for various processes to specific employees

15. Which would improve the control of cash?
A. The cashier reconciles bank accounts monthly.
B. Checks are restrictively endorsed at the time of receipt.
C. The person who authorizes checks also signs the checks.
D. The cashier records cash receipts in customers' accounts.Answer