CGAP MCQ 5

Question 1

The IIA's definition of internal auditing emphasizes which primary purpose?

Accepted Answer

Adding value and improving an organization's operations

Answer

The IIA defines internal auditing as an independent, objective assurance and consulting activity designed to add value and improve an organization's operations.

Question 2

A government auditor identifies a material weakness in internal control. Under GAGAS, the auditor must:

Accepted Answer

Report the material weakness in writing and modify the audit opinion as appropriate

Answer

Material weaknesses must be communicated in writing, and their existence typically leads to an adverse or qualified opinion on internal control.

Question 3

Which sampling method gives every item in the population an equal probability of selection?

Accepted Answer

Simple random sampling

Answer

Simple random sampling ensures every item has an equal and independent chance of being selected, meeting the definition of statistical sampling.

Question 4

In a government financial audit, 'those charged with governance' typically refers to:

Accepted Answer

The board, audit committee, or legislative oversight body

Answer

Those charged with governance include the body responsible for oversight of the entity's strategic direction, financial reporting, and accountability.

Question 5

Under the Yellow Book, continuing professional education (CPE) requirements for government auditors include a minimum of how many hours per two-year period?

Accepted Answer

80 hours

Answer

GAGAS requires auditors who perform government audits to complete at least 80 hours of CPE every two years, with at least 20 hours in each year.

CGAP - Certified Government Auditing Professional Practice Test

CGAP - Certified Government Auditing Professional Practice Test

CGAP MCQ 5