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.
- Real Time processing
- Batch processing
- Time Sharing processing
- Service Bureau processing
Answer: 1
Q:2 Switches, routers and firewalls are the elements of:
- Networks
- Network Devices
- Storage Devices
- Operating Systems
Answer: 2
Q:3 Core Banking System is an example of:
- Real Time processing
- Batch processing
- Time Sharing processing
- 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:
- Applications, Middleware, Network and Network Devices
- Applications, Middleware, Hardware and Software
- Applications, Middleware, Network and Hardware
- 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:
- (i), (ii) and (v)
- (iii) and (iv)
- (i), (ii), (iv) and (v)
- (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:
- Risk Management
- Enterprise Risk Management
- Enterprise Risk Planning
- Enterprise Risk Monitoring
Answer: 2
Q:7 Risks related to Governance, Organization and Management of IT
- Entity Level Risks
- Process Level Risks
- Transaction Level Risks
- None of the above
Answer: 1
CA Final - Paper 3 - Advanced Auditing and Professional Ethics - Chapter 5
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