风险管理控制集

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Jack, a CIMA member, has recently taken a fantastic position as finance manager for a medium-sized fashion retail company, Acia clothing plc. Jack really enjoys the job and even though the remuneration is not great, the other managers at the company have explained the way they 'get around' that issue. The sales manager explains to Jack that the key is to 'put everything on expenses- private petrol, drinks and even clothing, It's all fine and as long as you have a receipt, no-one in the finance department will question it'. He continues that 'lt's fine because the board are aware of it and turn a blind eye'. Which ONE of the following essential internal control measures is evidently missing from this company?

Silvermans plc, a large investment bank, has just been involved in a highly publicised fraud investigation concerning the secretary of the Board of Directors. The investigation found that the secretary had managed to steal f2 million from the directors after they had entrusted her with their chequebooks to settle all personal and professional financial affairs. Within a year the secretary was forging the directors' signatures and transferring monies into her private account. Which ONE of the three prerequisites for fraud had the bosses allowed to flourish within this situation?

Fraud risk, such as false accounting or theft of cash or assets, is one component of which type of risk?

The Finance Director of X plc recently attended a CPD seminar entitled Fraud - How to design an anti-fraud strategy. Her original understanding of her fiduciary duty regarding fraud was that it was her job to detect any wrong doing. However the seminar enabled her to understand there are other aspects to an anti-fraud strategy. Which of the following components are key to an effective anti-fraud strategy?

Aggrico Bank plc has just employed a new Chief Executive Officer (CEO) after the departing Chief was convicted of a high level fraud. The new CEO has said that she is committed to developing a sound ethical culture to ensure the long-term survival of the bank. Which of the following policies would help the new CEO to achieve her aim?

The primary responsibility for the prevention and detection of fraud rests with which ONE stakeholder group?

Rural Ltd is an independent, small, family-owned construction business that has been a period of a rapid expansion and growth over the last five years. Until now the family has simply relied on informal trust based control systems. However, the finance officer has started to see small inventory discrepancies, the bank reconciliation not quite reconciling and he also suspects internal leaks of client information to a leading competitor. Which of the following internal control policies would be appropriate for Rural Ltd, to implement?

X is a hospital. In the past six months, three of the hospital staff have been attacked when walking home from work late at night. Which of the following controls should reduce the number of attacks?

H has been offering investors in his company a 15% per annum return on their investment. In order to fund this return, H has been using money raised from newer investors to pay the15% returns demanded by early investors. What type of fraud is H committing?

BNG Ltd has recently discovered that it has been the victim of a false-billing fraud. Which of the following controls could BNG put in place to prevent this from occurring in the future?

Fredrickson and Co is a consultancy company that has recently seen the CEO forced to tender her resignation over serious fraud allegations. The rest of the board are looking to regain shareholder confidence. Identify the THREE main fraud prevention strategies you would recommend to the Board.

S is a multinational oil company which manages hundreds of drilling facilities across the world. S has recently undertaken a risk review of one of its major oil pipelines and as a result is keen to implement some internal control changes in order to reduce costs. The pipeline in question runs through a remote and inhospitable country which is largely covered in ice. The pipeline is currently checked for corrosion, along its ' entire length, once a week. Any signs of corrosion are treated immediately by the maintenance team carrying out the checks. If corrosion were to go untreated, the pipeline may leak resulting in catastrophic damage to the environment. S 's risk assessment suggests that instead of checking the entire pipe for corrosion each week, shorter segments should be checked instead. If the segment checked is clear of corrosion, the chances are the rest of the pipe is also clear. Over the course of a month, the entire pipe would be checked via the segment method. The directors are very pleased with the cost savings the new internal control system will generate. The chief engineer who manages the maintenance teams is however very concerned at what he perceives to be a dangerous reduction in controls. In his opinion, the risk of corrosion to the pipe is increasing as the pipe gets older and therefore extra checks should be commissioned, rather than checks reduced. The chief engineer has asked to speak to the board about his concerns. Which of the following statements are relevant and so should be part of the discussion?

At a recent board meeting, the directors of R Co were discussing internal controls. The finance director was of the opinion that as long as controls were working over the recording of transactions, there was no need to implement them elsewhere in the business. The operations director agreed, saying that controls were a financial concern and the factory floor with all of its machinery worked well because of the recruitment of experienced staff who excelled at their jobs rather than the implementation of controls. It was true that R Co rarely had problems with machine breakdown, however theft of finished goods inventory had been an issue in the past, as had IT security. There had also been three incidences of apparently experienced staff fabricating employment history in order to get a job at R Co. The CEO argued that these problems could be prevented from happening again with the introduction of new controls but the operational director disagreed saying these examples just represented risks of being in business. Which of the following controls, if implemented, could help prevent one or more of the incidences described from reoccurring?

B Company operates car parks across most of the major cities and airports of Country C. At a recent senior management meeting, one of the area managers with responsibility for 20car parks stated that he had some concerns about revenue collection in the car parks and also security. He explained that in some of the car parks, the automatic ticket machines which recorded entrance times of vehicles ran out of paper frequently and cars were unable to enter the car park until they were refilled. This often caused traffic jams on entry at busy times. In addition, the automatic payment machines at the exits always took payment but often ran out of paper to issue receipts to customers when car parks were busy. Although there were signs on the car park entrances stating that cars were left at customers own risk, the occasional vandalism within car parks was occurring and despite the CCTV installed, customers could be put off using them after hours. Due to recent redundancies and staff sickness, it was difficult to ensure a member of staff was always on site to deal with these issues when they occurred. Often single car park attendants were left with responsibility for the days takings when waiting for the security firm to collect the cash. Which of the following control weaknesses are likely to lead directly to lost revenue within the car parks?

Many organisations consider outsourcing their Internal Audit function. Which of the following are ADVANTAGES of doing this?

Many organisations consider outsourcing their Internal Audit function. Which of the following are DISADVANTAGES of doing this?

Portland plc has a well-established internal audit department consisting of staff that have an average length of service of six years. The scope of the internal auditors work is determined by the Chief Financial Officer (CFO).For some projects the internal aufit teams review their own work. Which of the following statements are correct? 1 The independence of the internal audit department could be enhanced if another member of the Finance team was involved in determining the scope of their work. 2 To eliminate any self-review threats Portland plc could increase expenditure on training so that internal auditors are better able to identify errors in their own work. 3 Staff should be rotated on a regular basis to reduce the familiarity threat associated with the long length of service.

FTS plc is planning to introduce a new benchmarking procedure as part of internal audit to help identify risk areas but is unsure which type of benchmarking would be most appropriate. It is aware that each type of benchmarking has certain drawbacks.FTS has identified that _1_ benchmarking is often difficult to undertake as it is difficult to convince the other party to share information about their operations. _2_ benchmarking is unlikely to suggest any strategic risk for the whole organisation and is typically only useful where the organisation feels that conformity of or service is crucial to its operations. Finally, _ 5 _ benchmarking often fails to provide data on the benchmarking company's core functions as it requires the organisation to benchmark itself against an organisation in a different industry. Use the options below to fill in the missing words in gaps 1, 2 and 3. A.Process B.Internal C.Competitive

Which of the following is an example of an analytical review procedure?

Moyles Co operate a chain of car dealerships and has a large internal audit department in place. The management of Moyles Co are keen to increase the range of assignments that internal audit undertake. Which TWO of the following assignments could the internal audit department of Moyles Co be asked to perform by management? 1 Fill a temporary vacancy in the credit control department on a rotational basis. 2 Under the external auditor's supervision, assist the external auditors by evaluating returns from the receivables circularisation. 3 Implement a new inventory control system. 4 Evaluate the inventory count instructions.

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