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Fy13 Annual Audit Conference Exam

Question 1 of 3

Q1 . MWRAP TABLE AND OBJECTIVES Processes are only used to help _______ a large number of ________.

Q2 . MWRAP TABLE AND OBJECTIVES When we need to categorize risks, helpful documentation aids are:

Q3 . SPONSORSHIP What is the most important special mailing communication from child to sponsor each year?

Q4 . E-BINDER & REAL TIME REVIEW Where reviewers can sign off?

Q5 . E-BINDER & REAL TIME REVIEW What is reviewer supposed to do during the real time review?

Q6 . E-BINDER & REAL TIME REVIEW What are the advantages of E-binder?

Q7 . WRITING HIGH IMPACT AUDIT REPORT What is our responsibility as an auditor as we do the audit?

Q8 . MWRAP TABLE AND OBJECTIVES What does MWRAP stand for?

Q9 . SPONSORSHIP What monitoring procedure is required to be done every 90 calendar days?

Q10 . SPONSORSHIP Death of a registered child must be reported by the NO to the SO and GC Sponsorship within 2 business days of receiving the death notification from the ADP/Project by email. (True or False)

Q11 . E-BINDER & REAL TIME REVIEW What is real time review in a nutshell?

Q12 . MWRAP TABLE AND OBJECTIVES What is the first step in the MWRAP table?

Q13 . WRITING HIGH IMPACT AUDIT REPORT What you should write in the Condition?

Q14 . AUDIT UNIVERSE To define the audit universe, the auditor divides the organization into auditable units of:

Q15 . AUDIT UNIVERSE ___________________________ is the aggregate of all areas that are available to be audited within World Vision.

Q16 . E-BINDER & REAL TIME REVIEW What are the advantages of real time review?

Q17 . GIA's FY13 DASHBOARD What are the first three columns of the Global Internal audit's (GIA) dashboard?

Q18 . AUDIT UNIVERSE World Vision activities/units should meet _______________________ criterion to become auditable units.

Q19 . MWRAP TABLE AND OBJECTIVES Simplifying the process of finding risks involves:

Q20 . SPONSORSHIP A child's personal file shall . . . . be kept in a secure place remain in the custody of World Vision be used for any purpose other than WV-related activities or initiatives with or without consent of the child and family or the WV National Office. (True or False)

Q21 . WRITING HIGH IMPACT AUDIT REPORT We need to know first what the cause is before recommending the corrective action. True or False?

Q22 . RISK PARAMETERS In GIA's MWRAP risk ranking parameters , the highest risk impact ranking is:

Q23 . RISK PARAMETERS Risk appetite should be set by the:

Q24 . GIA's FY13 DASHBOARD The main goal of the these activities "succession plan, turnover – GIA and Global and promotion to other areas of the organization" is to: I. Identify candidates and develop GIA's leadership succession plan II. Retain a qualified and productive staff III. Advocate for the promotion of qualified auditors into other areas of the partnership

Q25 . FINAL RISK OPINION Levels of risk maturity include all of the following, except for:

Q26 . E-BINDER & REAL TIME REVIEW The reviewer reviews the audit binder to ensure the _______________ of the audit.

Q27 . INTERVIEWING MANAGEMENT Why do we need to interview management? All of these reasons except for:

Q28 . INTERVIEWING MANAGEMENT How do we interview management?

Q29 . E-BINDER & REAL TIME REVIEW ''Review notes on names and dates''. What type of review note is this?

Q30 . GIA's FY13 DASHBOARD For the activity 'average number of days to issue final audit report', what does the color code green, red and yellow mean?

Q31 . WRITING HIGH IMPACT AUDIT REPORT It is only when we identify the correct _______ of the ________ that our work will have a lasting value.

Q32 . WRITING HIGH IMPACT AUDIT REPORT What you should write in the CAUSE?

Q33 . CREDIBILITY What are the characteristics of communication that we should maintain with our audit clients?

Q34 . RISK PARAMETERS A significant adverse public attention is an example of ______ impact to WV's image and reputation.

Q35 . CREDIBILITY It's easier to develop enthusiasm when we maintain a positive attitude and concentrate on finding fault, not only on solving problems. True or False?

Q36 . WRITING HIGH IMPACT AUDIT REPORT What you should write in the Consequence?

Q37 . RISK PARAMETERS The level of risk that WV Management can take in the pursuit of value is called:

Q38 . FINAL RISK OPINION The overall audit opinion is categorized as follows:

Q39 . CREDIBILITY What is not a twin brother of "accuracy", which is one of the important tips to maintain credibility?

Q40 . E-BINDER & REAL TIME REVIEW Which one is not the administrative review note? Review notes on:

Q41 . AUDIT UNIVERSE In the profession of internal audit, conventional wisdom and common practice have resulted in the development of audit universe. Such audit universe is the starting point for _________________

Q42 . AUDIT UNIVERSE Risk Universe is the sub-set of Audit Universe

Q43 . FINAL RISK OPINION What does the risk maturity level of 'risk aware' mean?

Q44 . INTERVIEWING MANAGEMENT When we interview management, the main difference between what we are expected to do now compared with what we used to do before (during the entry meeting) is:

Q45 . SPONSORSHIP According to the pertinent WVI Board policy of March 2003, child sponsorship is a required __________ _____________ of World Vision.

Q46 . WRITING HIGH IMPACT AUDIT REPORT If there is no _________, there is no condition/finding.

Q47 . CREDIBILITY Another way to maintain credibility is "walking your talk". Which of the following can be considered as a practical application of this principle?

Q48 . RISK PARAMETERS In GIA's MWRAP risk ranking parameters , risks are group into the following categories except for: Operational factors Strategic factors Compliance and Regulatory factors Reporting factors

Q49 . GIA's FY13 DASHBOARD How many KPIs are there that relates to the audit recommendations (i.e. recommendations implemented by management,…) ?

Q50 . WRITING HIGH IMPACT AUDIT REPORT WV promise to sponsors that supported children are provided with access to good health and nutrition was not kept. What statement is this?