Control Objectives – NBC Institute

AAA – May 2019 – L3 – Q3 – Audit of IT Systems and Data Analytics

Explain COBIT as an IT governance tool, its purpose, and six specific components of the framework.

Question

Jemigboran Commercial Industries has been operating for some years. Its management has sought your input as the auditor of the company on a proposal by the information technology (IT) team of the company to introduce a framework as “Control Objectives for Information and Related Technologies (COBIT)” for its operations.

Required:
a. Explain COBIT as an IT governance tool, and the purpose it serves in an organisation. (8 Marks)
b. Identify and explain SIX specific components of COBIT. (12 Marks)

Answer

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Tags: COBIT, Control Objectives, IT Governance, Risk Management
Level: Level 3

Topic: Audit of IT Systems and Data Analytics

AA – Nov 2015 – L2 – Q1a – Internal Control Systems

Explanation of internal control, its objectives, and the components that support it.

Question

Knowledge of internal control is a very basic audit skill. While auditors are not responsible for the institution of internal controls, they are responsible for providing management with information about how internal control is operating.

Required:
i. Illustrate what internal control is. (4 Marks)
ii. Describe THREE categories of internal control objectives. (6 Marks)
iii. Describe FIVE components of Internal control. (5 Marks)

Answer

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Tags: Auditing, Control Environment, Control Objectives, Internal Control, Risk Management
Level: Level 2

Topic: Internal Control Systems
Series: NOV 2015

AA – Mar/July 2020 – L2 – Q5 – Assurance Services and Due Diligence for Hallmark Ltd

List control objectives and activities for cash sales and bank lodgments.

Question

List TWO control objectives and THREE control activities that should be put in place for each of the following:
i. Cash sales. (5 Marks)
ii. Lodgments into bank. (5 Marks)

Answer

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Tags: Bank Lodgments, Cash Sales, Control Activities, Control Objectives, Internal Control
Level: Level 2

Topic: Internal Control Systems
Series: MAR/JULY 2020

MI – May 2018 – L1 – SA – Q15 – Information Systems

Information System control objectives.

Question

Which of the following is NOT an Information System Control objective?
A. Ensuring consistent system functionality
B. Safeguarding system assets
C. Maintaining system economy and efficiency
D. Promoting technology usage
E. Preventing system facilities from hackers

Answer

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Tags: Control Objectives, Information Systems
Level: Level 1

Topic: Information Systems
Series: MAY 2018

AA – Mar/Jul 2020 – L2 – Q6 – Internal Control Weaknesses in Debtors’ Recovery

This question addresses weaknesses in internal control systems, control objectives, and activities for cash sales and bank lodgements.

Question

In a medium-sized trading organisation, the accountant was given the additional responsibility of pursuing recoveries from debtors. On one occasion, when an insurance claim of N1 million was received, the accountant credited it to the account of a debtor to cover up a previous misappropriation of N1 million he had recovered in cash from the debtor.

Required:
(a) Identify and describe the weaknesses in the internal control system which led to this situation. (10 marks)

Answer

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Tags: Bank Lodgements, Cash Sales, Control Activities, Control Objectives, Internal Control, Weaknesses
Level: Level 2

Topic: Internal Control Systems
Series: MAR/JULY 2020

AAA – May 2019 – L3 – Q3 – Audit of IT Systems and Data Analytics

Explain COBIT as an IT governance tool, its purpose, and six specific components of the framework.

Question

Required:
a. Explain COBIT as an IT governance tool, and the purpose it serves in an organisation. (8 Marks)
b. Identify and explain SIX specific components of COBIT. (12 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: COBIT, Control Objectives, IT Governance, Risk Management
Level: Level 3

Topic: Audit of IT Systems and Data Analytics

AA – Nov 2015 – L2 – Q1a – Internal Control Systems

Explanation of internal control, its objectives, and the components that support it.

Question

Required:
i. Illustrate what internal control is. (4 Marks)
ii. Describe THREE categories of internal control objectives. (6 Marks)
iii. Describe FIVE components of Internal control. (5 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Auditing, Control Environment, Control Objectives, Internal Control, Risk Management
Level: Level 2

Topic: Internal Control Systems
Series: NOV 2015

AA – Mar/July 2020 – L2 – Q5 – Assurance Services and Due Diligence for Hallmark Ltd

List control objectives and activities for cash sales and bank lodgments.

Question

List TWO control objectives and THREE control activities that should be put in place for each of the following:
i. Cash sales. (5 Marks)
ii. Lodgments into bank. (5 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bank Lodgments, Cash Sales, Control Activities, Control Objectives, Internal Control
Level: Level 2

Topic: Internal Control Systems
Series: MAR/JULY 2020

MI – May 2018 – L1 – SA – Q15 – Information Systems

Information System control objectives.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Control Objectives, Information Systems
Level: Level 1

Topic: Information Systems
Series: MAY 2018

AA – Mar/Jul 2020 – L2 – Q6 – Internal Control Weaknesses in Debtors’ Recovery

This question addresses weaknesses in internal control systems, control objectives, and activities for cash sales and bank lodgements.

Question

Required:
(a) Identify and describe the weaknesses in the internal control system which led to this situation. (10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bank Lodgements, Cash Sales, Control Activities, Control Objectives, Internal Control, Weaknesses
Level: Level 2

Topic: Internal Control Systems
Series: MAR/JULY 2020

Question Tag: Control Objectives

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AAA – May 2019 – L3 – Q3 – Audit of IT Systems and Data Analytics

Explain COBIT as an IT governance tool, its purpose, and six specific components of the framework.

AA – Nov 2015 – L2 – Q1a – Internal Control Systems

Explanation of internal control, its objectives, and the components that support it.

AA – Mar/July 2020 – L2 – Q5 – Assurance Services and Due Diligence for Hallmark Ltd

List control objectives and activities for cash sales and bank lodgments.

MI – May 2018 – L1 – SA – Q15 – Information Systems

Information System control objectives.

AA – Mar/Jul 2020 – L2 – Q6 – Internal Control Weaknesses in Debtors’ Recovery

This question addresses weaknesses in internal control systems, control objectives, and activities for cash sales and bank lodgements.

AAA – May 2019 – L3 – Q3 – Audit of IT Systems and Data Analytics

Explain COBIT as an IT governance tool, its purpose, and six specific components of the framework.

AA – Nov 2015 – L2 – Q1a – Internal Control Systems

Explanation of internal control, its objectives, and the components that support it.

AA – Mar/July 2020 – L2 – Q5 – Assurance Services and Due Diligence for Hallmark Ltd

List control objectives and activities for cash sales and bank lodgments.

MI – May 2018 – L1 – SA – Q15 – Information Systems

Information System control objectives.

AA – Mar/Jul 2020 – L2 – Q6 – Internal Control Weaknesses in Debtors’ Recovery

This question addresses weaknesses in internal control systems, control objectives, and activities for cash sales and bank lodgements.

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AAA – May 2019 – L3 – Q3 – Audit of IT Systems and Data Analytics

Explain COBIT as an IT governance tool, its purpose, and six specific components of the framework.

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AA – Nov 2015 – L2 – Q1a – Internal Control Systems

Explanation of internal control, its objectives, and the components that support it.

You're reporting an error for "AA – Nov 2015 – L2 – Q1a – Internal Control Systems"

AA – Mar/July 2020 – L2 – Q5 – Assurance Services and Due Diligence for Hallmark Ltd

List control objectives and activities for cash sales and bank lodgments.

You're reporting an error for "AA – Mar/July 2020 – L2 – Q5 – Assurance Services and Due Diligence for Hallmark Ltd"

MI – May 2018 – L1 – SA – Q15 – Information Systems

Information System control objectives.

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AA – Mar/Jul 2020 – L2 – Q6 – Internal Control Weaknesses in Debtors’ Recovery

This question addresses weaknesses in internal control systems, control objectives, and activities for cash sales and bank lodgements.

You're reporting an error for "AA – Mar/Jul 2020 – L2 – Q6 – Internal Control Weaknesses in Debtors’ Recovery"

AAA – May 2019 – L3 – Q3 – Audit of IT Systems and Data Analytics

Explain COBIT as an IT governance tool, its purpose, and six specific components of the framework.

You're reporting an error for "AAA – May 2019 – L3 – Q3 – Audit of IT Systems and Data Analytics"

AA – Nov 2015 – L2 – Q1a – Internal Control Systems

Explanation of internal control, its objectives, and the components that support it.

You're reporting an error for "AA – Nov 2015 – L2 – Q1a – Internal Control Systems"

AA – Mar/July 2020 – L2 – Q5 – Assurance Services and Due Diligence for Hallmark Ltd

List control objectives and activities for cash sales and bank lodgments.

You're reporting an error for "AA – Mar/July 2020 – L2 – Q5 – Assurance Services and Due Diligence for Hallmark Ltd"

MI – May 2018 – L1 – SA – Q15 – Information Systems

Information System control objectives.

You're reporting an error for "MI – May 2018 – L1 – SA – Q15 – Information Systems"

AA – Mar/Jul 2020 – L2 – Q6 – Internal Control Weaknesses in Debtors’ Recovery

This question addresses weaknesses in internal control systems, control objectives, and activities for cash sales and bank lodgements.

You're reporting an error for "AA – Mar/Jul 2020 – L2 – Q6 – Internal Control Weaknesses in Debtors’ Recovery"

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