CFSA IIA-CFSA Exam Questions and Answers PDF

Certified Financial Services Auditor Questions and Answers

Question 21

“Ongoing monitoring activities are conducted to periodically reassess risk and the effectiveness of control risk,” is an objective of:

Risk Identification

Risk Measurement

Risk Management Process

Risk Prioritization

Question 22

The responsibility for preparing and presenting the audited financial statements is that of:

Internal auditor

Engagement client/ Management of the entity

Process owner

Auditing Agency

Question 23

During the posting process of ledger records on deposit account banks may reject some transactions because:

They lack proper endorsements

They are subject to stop payments

They would create an over draft

All of these

Question 24

Which one of the following activities is not related to the trust committee activities that should be reviewed?

Whether regular meetings are held and documented by meeting minutes

Whether the trust committee contains at least one member who is not a bank officer

Whether there is adequate oversight of the trust committee’s activities by board of directors

None of these