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Internal Audit Lunch & Learn Flashcards | StudBud
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Internal Audit Lunch & Learn
Internal Audit Lunch & Learn
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Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
Which of the following must be included in the description of a control?
Control Preparer
Frequency
All of the above
Procedure
2
Internal Audit has ownership and responsibility over creating and maintaining controls.
True
False
3
What is an Internal Audit Charter?
a formal document that specifies the purpose and roles of internal audit
a formal document that lists out all risks and controls
I have no idea what a charter is
a formal document that lists out revenues and expenses
4
Who does the Coaction Internal Audit Team directly report to?
Chief Financial Officer (CFO)
The Audit Committee
Chief Executive Officer (CEO)
Chief Legal Officer (CLO)
5
Which of the following statements are true?
SOX was passed in 2006 and applies only to public companies.
None of the above
SOX was passed in 2004 and applies only to public companies.
SOX was passed in 2004 and applies to public and private companies.
6
Who was responsible for drafting the Sarbanes-Oxley Act?
Joseph Sarbanes & John Oxley
John Sarbanes & Joseph Oxley
Michael Sarbanes & Paul Oxley
Paul Sarbanes & Michael Oxley
7
Which accounting firm currently performs Coaction's annual external audit?
Grant Thornton, LLP
Deloitte & Touche LLP
Jordyn Ferrante CPAs
PwC
8
Other than the Coaction brand image, what object has appeared on EVERY slide before the quiz?
a computer
a magnifying glass
a pencil
a calculator
9
Who won the Super Bowl in 2025 for the 2024/2025 season and is the best team ever assembled?
Philadelphia Eagles
Kansas City Chiefs
Harlem Globetrotters
Coaction's 2024 Kickball Champions
10
The Model Audit Rule applies to companies with at least $750 million in annual direct written and assumed premiums.
True
False
