Quiz 94 

 

 

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Alles, Kogan and Vasarhelyi Article
Sarup Article
Bek Article
Mookhey Article
Wakefield Article
Lanza Article

 

CPE Quiz # 94

Based on Information Systems Control Journal Volume 1, 2004

A passing score of 75 percent qualifies for one (1) hour of CISA/CISM/CGEIT Continuing Professional Education (CPE) Credit

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Alles, Kogan and Vasarhelyi Article

1. Initially, most publicity was drawn to section 302 of the Sarbanes-Oxley legislation, which requires the CEO and CFO to personally sign off on the appropriateness of the firm's financial statements.
2. CFO Magazine's survey of Fortune 500 CFOs suggests that the cost of Sarbanes-Oxley section 404 compliance during the first year of implementation is US $7 billion.
3. The authors predict that tools for automated control mapping, evaluating online, real-time control functioning, and selecting alarms for auditor review will greatly facilitate 404 compliance.
4. Sarbanes-Oxley section 409 requires that material internal control deficiencies be disclosed on a real-time basis for the protection of investors and the public interest.
5. The authors suggest that Sarbanes-Oxley should be wholly effective in eliminating corporate malfeasance, in that its provisions would detect or prevent a majority of recent corporate malfeasances.

Sarup Article

6. Issues that the audit profession needs to address, in the opinion of the author, include the need to be seen as clearly independent, the need for greater responsibility for detecting fraud and a need to remove the bias from the audit model.
7. The author describes a new model of auditing that inserts a neutral third party, such as a stock exchange, to play a pivotal role in monitoring the performance of the audit.
8. One element of the model described by the author is that audit fees would not be paid by the company being audited; instead, the audit fees would be paid by a special levy on stock trades.

Bek Article

9. ZFPAudit is a market-leading commercial audit software for examining the security of Windows 98, Windows 2000 and Windows XP operating systems.
10. Complete source code is available for review and improvement with the license of ZFPAudit.

Mookhey Article

11. Examples of open source vulnerability assessment tools identified by the author include Nessus and Satan. An advantage of Nessus is that it runs in client-server mode and, therefore, can be run on a laptop with limited capabilities.
12. Open source forensics tools include Lsof and The Coroner's Toolkit. A disadvantage of these tools is that they are designed primarily for UNIX systems and have limited benefits for Windows systems.
13. A recommended technique for auditing with open source tools is using a combination of tools for the same purpose. An advantage of open source tools is that they cannot cause a denial-of-service attack because of the small amount of source code.

Wakefield Article

14. Monitoring employees through electronic surveillance is becoming more common. According to an AMA survey in 2001, the two most common types of surveillance are video recording job performance and storage and review of e-mail.
15. Employers seeking to monitor e-mail and Internet usage of employees should implement a clear policy that outlines monitoring intentions to minimize invasion of privacy claims. Clear policies should set boundaries, establish employees' expectations of privacy, and help set a workplace tone that conveys organizational responsibility and respect for others.

Lanza Article

16. Fraud can be categorized into the following three areas: asset misappropriation, corruption and fraudulent financial statements. Most of the examples of computer-assisted audit techniques designed to protect against fraud identified by the author are primarily beneficial in identifying corruption.

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