Free CFSA Exam Braindumps
Certified Financial Services Auditor (CFSA) Questions 141–145 (page: 30)

COBIT (Control Objectives for Information and Related Technology) is based on existing Information Systems Audit and Control Foundation, control objectives enhanced with existing and emerging international technical, professional, regulatory, and industry-specific standards. COBIT has four domains or high-level classifications. Which is of the following is NOT out of those domains?

The purpose of audits of financial statements is to issue an opinion on the fairness of the financial statements and to evaluate all of the following assertions (explicit or implicit) by management EXCEPT:

Standards related to information technology are not as well-developed or universally accepted as standards in some other audit areas. Financial statements that are fairly presented meet the following :
Generally accepted accounting principles are used
Appropriate accounting principles are used
Financial statements address matters that may affect their use or interpretation Financial statements classify and summarize information in a reasonable manner Financial statements reflect underlying transactions and events in a way that facilitates the presentation of the financial position, results of operation , and cash flows

The balance sheet is the fundamental report of a company's financial position. An examination of a balance sheet will assist in determining:

A statement of cash flows in a financial report that shows incoming and outgoing money during a particular period (often monthly or quarterly). It does not include items such as depreciation. The statement is a useful tool for determining the short-term viability of a company, particularly its ability to pay bills.