MCQ for CA Final Audit - Chapter 4 SPECIAL ASPECTS OF AUDITING IN AN AUTOMATED ENVIRONMENT

Sample Multiple Choice Questions (MCQ's) for CA Final - Paper 3 - Advanced Auditing and Professional Ethics - Chapter 4: SPECIAL ASPECTS OF AUDITING IN AN AUTOMATED ENVIRONMENT - For Practice relevant for May/Nov 23 Examinations

 

Q:1 Type of automated environment in which business operations and transactions are initiated, processed and recorded immediately on their occurrence.               

  1. Real Time processing
  2. Batch processing
  3. Time Sharing processing
  4. Service Bureau processing

Answer: 1

Q:2 Switches, routers and firewalls are the elements of:     

  1. Networks
  2. Network Devices
  3. Storage Devices
  4. Operating Systems

Answer: 2

Q:3 Core Banking System is an example of:

  1. Real Time processing
  2. Batch processing
  3. Time Sharing processing
  4. Service Bureau processing

Answer: 1

Q:4 A real-time environment has several critical IT components that enable anytime, anywhere transactions to take place. They include:              

  1. Applications, Middleware, Network and Network Devices
  2. Applications, Middleware, Hardware and Software
  3. Applications, Middleware, Network and Hardware
  4. Applications, Network, Hardware and Software

Answer: 3

Q:5 "As required by SA 315, auditor is required to obtain an understanding of the entity and its environment as a part of Risk Assessment procedure to identify and assess Risk of Material Misstatements. Given below is list of certain areas for which auditor generally required understanding:

(i) Applications being used by the entity;

(ii) IT infrastructure components for each of the application;

(iii) Organization structure and governance;

(iv) Policies, procedures and processes followed;

(v) IT risks and controls.

In an automated environment, auditor is required to obtain an understanding of:

 

  1. (i), (ii) and (v)
  2. (iii) and (iv)
  3. (i), (ii), (iv) and (v)
  4. (i), (ii), (iii), (iv) and (v)

 

Answer: 4

 

Q:6 Formal program that is implemented across an enterprise for enabling risk management is known as:

 

  1. Risk Management
  2. Enterprise Risk Management
  3. Enterprise Risk Planning
  4. Enterprise Risk Monitoring

 

Answer: 2

 

Q:7 Risks related to Governance, Organization and Management of IT

         

  1. Entity Level Risks
  2. Process Level Risks
  3. Transaction Level Risks
  4. None of the above

 

Answer: 1

 

 

CA Final - Paper 3 - Advanced Auditing and Professional Ethics - Chapter 5   

 

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