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Which of the following best describes the Foreign Corrupt Practices Act?

		Provided guidance for public reporting on internal control
		Offered materials to evaluate an internal control system Which of the following was not in the COSO 1992 report? It defined internal control and components Presented criteria to evaluate internal control systems Provided guidance for public reporting on internal controls It required CEOs to attest to a strong internal control system in their firms.

Which of the following is not part of the Control Environment?

		Managements oversight , integrity, and ethical principles
		Attention and direction by board of directors
		Risk assessment
		Method of assigning authority and responsibility and a method of organizing and developing employees.

Control Activities include policies and __________ that can be both manual and automated

The Internal Audit function should reports to Audit Committee of Board of Directors.

True

or

False

Separation of duties is an important control activity. If possible, managers should assign which of the following three functions to different employees?

		Analysis, authorizing, transactions
		Custody, monitoring, detecting
		Recording, authorizing, custody
		Analysis, recording, transaction

Which type of control alerts managers when preventive controls fail?

		Preventive
		Detective
		Corrective
		Sustantive

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