Free CFE Exam Braindumps (page: 47)

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What needs to understand and assess this environment and the system of internal controls so it can exercise effective oversight?

  1. Financial reporting
  2. Audit Committee
  3. Inventory control
  4. Business Assessment

Answer(s): B



Financial reporting is the most critical component of the full and fair disclosures that ensure the effective functioning of the capital and credit markets in the United States, it is reported by:

  1. Operational commission
  2. Audit Committee
  3. Corporate sector
  4. Treadway Commission

Answer(s): D



The internal audit function typically focuses on:

  1. operating and financial controls
  2. efficiency and productivity issues
  3. internal operating information
  4. All of the above

Answer(s): D



Who are principally responsible for communicating to the Audit Committee the scope of their annual audit of the financial statements, the extent of their involvement with interim reports?

  1. external auditors
  2. Internal auditors
  3. team workers
  4. stakeholders

Answer(s): A



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sena commented on May 31, 2019
I will see if this helps
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