IIA-CGAP Premium Exam Questions

Certified Government Auditing Professional Questions and Answers

Question 9

The goal of the comprehensive approach is to identify potential significant control weaknesses for further review. All of the following are the general steps in the process EXCEPT:

Options:

Document and evaluate work processes and controls.

Acceptance of audit findings and corrective action taken.

Select a sample of transactions and determine if processes and controls are functioning as intended.

Determine or estimate the effect of control weakness of program goals and objectives.

Question 10

Permanent Fund is the Endowment-like arrangements available to support the operations or programs of the government (e.g., cemetery perpetual care funds).where as ________are used when a government wants to recoup all or a portion of the cost of providing a service (i.e., utility charges, mass transit fees).

Options:

permanent fund, enterprise fund

program budgeting, Zero-based budgeting

General Funds, Special Revenue Funds

Debt Service Fund, Capital Projects Fund

Question 11

Although not a generally accepted practice by most audit organizations, some may not comply with audit standards and call the final product reviews or studies. The entire following are some specific examples where standards may not be used EXCEPT:

Options:

An “assignment” may have an extremely short deadline, making it virtually impossible to comply with all appropriate audit standards.

The organization doesn’t follow the audit standards.

Assignments that are strictly tied to compliance with contract terms, regulations, or grant requirements.

The requesting body (legislature, for example) may not want standards to be applied to the assignment.

Question 12

Most governments have some form of a centralized budgeting agency. All of the following are areas addressed by budget offices EXCEPT:

Options:

Developing a budget document that incorporates all agency requests into a government wide request or plan.

Not developing a budget document that incorporates all agency requests into a government wide request or plan.

Assessing the national economy and the impact it will have on finances.

Assessing financial performance — reviewing and analyzing the revenues, expenditures, and cash balances at various times throughout the year.

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Certified Government Auditing Professional Questions and Answers

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CompTIA

Fortinet

Microsoft

Salesforce