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Study Resources (Accounting)

Match the privacy principle to the correct definition. A) The entity defines, documents, communicates, and assigns accountability for its privacy policies and procedures. B) The entity provides information about its privacy policies and procedures and identifies the purposes for which personal information is collected, used, retained, and disclosed. C) The entity limits the.
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11) ________ was developed to standardize and streamline financial and business reports. 12) XBRL provides ________ that permits data to be shared across different applications and IT platforms. 13) You can think of the XBRL tags as ________ keys for data contained in financial reports. 14) Which programming language is used.
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Objective 6 1) A ________ is a hardware device containing a password generator protocol that creates a new password each time the token is used. 2) Which access control threat are programs or devices that examine traffic on the enterprise network? A) Password attack B) Network sniffer C) Identify theft D) Spoofing at log-on 3) Which.
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11) The ________ element defines the time frame. 12) The ________ element defines the company. 13) The XBRL linkbase ________ link defines different kinds of relationships between elements. For example, ZIP code is the postal code used in the United States. Match the following elements to the appropriate definitions. A) Unit of measure B).
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Objective 4 1) Wide area networks (WANs) cover a large geographic region, such as the lower Midwest. 2) The Internet is a collection of many networks of various types, connecting different LANs MANs, and WANs together. 3) Bridges connect LANs of similar or different types to create an intranet. 4) Enterprise security architecture.
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11) Which of the following is NOT part of the audit committee's responsibilities? A) The organization's compliance with legal and regulatory requirements B) The integrity of the organization's financial statements and reports C) The organization's policies regarding ethical conduct D) The organization's ability to process data efficiently and effectively 12) Which general IT control includes.
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11) Which guiding principle of integrated reporting attempts to improve transparency of reporting on key economic, social, and environmental issues? A) Connectivity of Information B) Responsiveness and Stakeholder Inclusiveness C) Strategic Focus D) Conciseness, Reliability, and Materiality 12) The two primary benefits of integrated reporting are A) Increased production and improved profit B) Increased good will and.
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Chapter 11 Extension 1) COBIT provides high-level strategic guidance for meeting overall internal control objectives. 2) COSO provides a code of practice for information security management. 3) In the COBIT framework, which IT resource category consists of manual and programmed procedures to process information? A) Infrastructure B) Applications C) People D) Information 4) Which IT process domain,.
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17) What factors are part of the control environment? 18) List and describe the control activities for mitigating financial, operational, and compliance controls risks. 19) Internal control is a set of policies, procedures, and activities to achieve an enterprise's objectives that are related to what? 20) For internal control to be effective what.
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Objective 1 1) Motive and opportunity without means still results in fraud. 2) Corruption involves theft of assets for personal gain. 3) Fraudulent financial reporting includes misstating financial statements to meet earnings targets. 4) Not even the strongest system of controls can eliminate all risk of organizations being defrauded by employees who are sufficiently.
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18) Integrated reporting combines two different types of reports into one report to better explain and enterprise's ability to create and sustain value. What is the challenge this benefit must address? Objective 6 1) What are Novo Nordisk's long-term financial goals? 2) What are Novo Nordisk's three dimensions of social performance? 3) Buildings in.
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Match the linkbase to the appropriate definition. A) Defines the basic validation rules B) Defines the labels used in the document C) Defines how the elements are presented D) Defines different kinds of relationships between elements E) Defines the relationships between the elements and the external regulations or standards 19) Reference link 20) Calculation link 21) Presentation link 22).
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Chapter Extension 10A 1) The ________ of internal auditors establishes trust and thus provides the basis for reliance on their judgment. 2) Internal auditors exhibit the highest level of professional ________ in gathering, evaluating, and communicating information about the activity or process being examined. Match the internal auditors code of ethics principle to.
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Objective 5 1) In XBRL integrated tagging, data for reports is retrieved from the database, reports are prepared, and electronic tags are added to create XBRL reports. 2) XBRL bolt-on tagging permits companies to make more extensive use of XBRL for internal decision making. 3) The data stored in a relational database.
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47) What information does the following XBRL tag provide? <us-gaap:InventoryNet contextRef="Jan012014" unitRef="USD" decimals="6">391400000000</us-gaap:InventoryNet> 48) What information does the following XBRL tag provide? <us-gaap:GoodWill contextRef="Jul012013" unitRef="USD" decimals="2">4956000</us-gaap:GoodWill> 49) List and define the XBRL essentials. .
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5) List and define the information sensitivity classifications for the private sector. 6) List and define information sensitivity classification for governmental sector. 7) Provide example of how security and controls measures can be included in the planning, design, installation, and deployment phases of the SDLC. 8) List and describe three frameworks that provide.
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Objective 3 1) Internal control is designed to provide reasonable assurance regarding the achievement of objectives in effectiveness and efficiency of operations, reliability of financial reporting, and compliance with applicable laws and regulations. 2) The internal control category control environment includes identifying, analyzing, and managing risks affecting the ability to report financial.
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Objective 2 1) XBRL can only be used by banking regulators and financial analysts. 2) Beginning in 2009, the SEC mandated the use of XBRL for SEC filings for A) Selected large publicly held companies B) All privately held companies C) Selected large privately held companies D) All publicly held companies 3) The US SEC started mandating.
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11) How long does the typical fraud last before being detected? A) Six months B) One year C) Two years D) Three years 12) What percentage of fraud cases were inadequate internal controls cited as a primary contributing factor? A) 48% B) 29% C) 35% D) 42% 13) Earnings management focuses on managing when revenues and expenses are recorded in.
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Objective 1 1) With XBRL, each financial reporting amount is electronically tagged with a description of the data. 2) Credit rating agencies must use XBRL for reporting all ratings beginning in August 2020. 3) XML is a programming language used for Web site development that is static. 4) XBRL is a programming language that.
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Objective 2 1) Most data thieves are professional criminals deliberately trying to steal information they can turn into cash. 2) While dumpster diving is unethical, it may not be illegal. 3) Phishing involves attempts to obtain passwords by sniffing messages sent between computers on the network. 4) Laws related to cybersecurity originate from.
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Objective 2 1) The accounting profession is self-regulated. 2) The SOX legislation basically requires management of privately held companies must assess and report on the effectiveness of internal controls for financial reporting using a recognized framework. 3) SOX emphasizes a strong system of internal control as a way of avoiding Enron-sized accounting.
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Match the malware with the appropriate definition. A) Code is disguised as a legitimate program, that can be downloaded and installed by users without realizing it is malware B) A relatively small program that infects other application software by attaching to it and disrupting application function C) Tiny piece(s) of programming code that.
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11) In the COSO Internal Control-Integrated Framework, control activities do NOT include A) Independent reconciliations of assets and accounting records B) Physical controls C) Segregation of duties D) Management controls 12) Which COSO Internal Control-Integrated Framework essential component of an effective internal control system includes the accounting system for identifying, recording, processing, and reporting transactions.
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Match the legislation to the description. A) This legislation requires organizations that handle credit and debit card data to meet cybersecurity requirements to safeguard the data. B) Frank-Dodd Wall Street Reform and Consumer Protection Act C) This legislation requires each federal agency to develop, document, and implement an agency-wide information security program. D) This.
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Objective 7 1) ________ controls ensure that reports and messages reach intended recipients. 2) Operations security refers to A) Security for access to the enterprise system, including computers, networks, routers, and databases B) Security for telecommunications, networks, and the Internet C) The physical security of information technology components, such as hardware and software D) Activities.
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Objective 5 1) Telecommunications, networks, and the internet all relate to data transmission. 2) ________ is a network used by external customers and/or suppliers. 3) Network cyberattacks typically target ________ because they offer access to the network. 4) ________ firewall is a special type of firewall located on a server used to intercept and.
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11) List three encryption methods. Briefly describe how they work. 12) List and describe three types of encryption keys. Objective 12 1) The IT used in an enterprise can actually create vulnerabilities to cyberattacks on its confidential accounting data. 2) New IT security technology A) Is usually worth the investment B) Is less vulnerable.
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42) What information does the following XBRL tag provide? <ifrs-gp:AssetsHeldSale contextRef="Current_AsOf" unitRef="U-Euros"decimals="2">20000</ifrs-gp:AssetsHeldSale> Answer:  43) What information does the following XBRL tag provide? <ifrs-gp:Inventories contextRef="Current_AsOf" unitRef="U-Euros"decimals="2">5000000</ifrs-gp:Inventories> 44) What information does the following XBRL tag provide? <ifrs-gp:OtherOperatingExpenses contextRef="Dec312014" unitRef="USD" decimals="3">6920000</ifrs-gp:OtherOperatingExpenses> 45) What information does the following XBRL tag provide? <us-gaap:PrepaidExpenseCurrent contextRef="Dec312013" unitRef="USD" decimals="4">12984000000</us-gaap:PrepaidExpenseCurrent> 46) What information does the following XBRL.
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11) When investigating fraud, ________ enables auditors to extract, analyze, and interpret evidence to detect unusual patterns and irregularities. 12) A(n) ________ in internal control over financial reporting is defined as a deficiency as such that there is a reasonable possibility that a material misstatement of financial statements will not be.
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15) Define the five guiding principles of integrated reporting. 16) What are the two primary benefits of integrated reporting? 17) Traditional reporting adds more information while integrated reporting attempts to remove clutter and focus on making key connections clear. What is the challenge must this benefit must address? .
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Objective 5 1) The reporting framework for Service Organization Control (SOC) consists of five SOC reports. 2) Service organizations are external organizations that perform services to the company being audited. 3) ________ reports are issued by the service organization to report on its controls relevant to a company's internal control over financial reporting. 4).
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11) Which principle in the Code of Ethics for internal auditors states that the are to make a balanced assessment of all the relevant circumstances and are not unduly influenced by their own interests or by others in forming judgments? A) Confidentiality B) Competency C) Objectivity D) Integrity 12) Which principle in the Code of.
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Objective 4 1) XML is being mandated by more capital markets globally, companies are using XML to meet those requirements. Match the following terms with the appropriate definition. A) A programming language that converts unstructured data into structured data. B) A programming language used to develop static web page content. C) The process of adding.
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Objective 5 1) In integrated reporting, thinking does not include considering long-term success. 2) Integrating reporting combines the financial report and sustainability performance into one report. 3) An integrated report does not show how business decisions and performance are connected. 4) An integrated report provides insights into an organization's relationship with its key stakeholders. 5).
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12) What is a microcomputer? A) A computer with moderate computing power B) A personal computer or laptop C) A smart phone D) A powerful, high-speed computer used for complex numerical calculations 13) Which of the following network hardware are typically personal computers and laptops connected to the network? A) Workstation computers B) Server computers C) Routing devices D).
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Objective 4 1) Increasingly the expectation is that the auditor and the IT professional learn more about the other's field. 2) Internal controls for the accounting system are incomplete without IT controls. 3) Application controls ensure completeness and accuracy of transaction processing, authorization, and validity. 4) Input controls ensure data is processed properly. 5).
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21) Which legislation requires organizations that handle credit and debit card data to meet cybersecurity requirements to safeguard data?              A) Computer Fraud and Abuse Act B) Federal Information Security Management Act of 2002 (FISMA) C) Economic Espionage Act of 1996 D) Payment Card Industries Data Security Standards (PCI-DDS) 22) It is the first day.
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Objective 3 1) Which country was the first capital market to adopt XBRL? A) USA B) Russia C) China D) Japan 2) Italy implemented XBRL for A) Tax reporting B) Chamber of commerce filings C) Banking regulations D) SEC filings 3) In USA, the FDIC is using XBRL for A) All bank reporting requirements B) Nothing (the FDIC is not using XBRL) C) Some.
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Objective 1 1) Cybersecurity combines people, processes, and technology to continually monitor vulnerabilities and respond proactively to secure the system. 2) Personal data, such as home address and credit card number, are stored on hotel card keys. 3) ________ developed the 10-domain Common Body of Knowledge (CBK) for IT security and controls. 4).
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