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Quiz Governance Audit

This document contains a quiz on governance audit concepts. It includes 20 multiple choice or true/false questions covering topics like the definition of governance, underlying concepts, stakeholders expectations, transparency, accountability, and characteristics of good governance. The questions are meant to test understanding of governance principles from sources like OECD, UN, Cadbury report, and the Institute of Internal Auditors.

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Angelie De Leon
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219 views

Quiz Governance Audit

This document contains a quiz on governance audit concepts. It includes 20 multiple choice or true/false questions covering topics like the definition of governance, underlying concepts, stakeholders expectations, transparency, accountability, and characteristics of good governance. The questions are meant to test understanding of governance principles from sources like OECD, UN, Cadbury report, and the Institute of Internal Auditors.

Uploaded by

Angelie De Leon
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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QUIZ GOVERNANCE AUDIT

CAPITAL LETTERS ONLY IF IDENTIFICATION

CHOOSE THE BEST ANSWER IF MULTIPLE CHOICE

WRITE TRUE IF CORRECT. IF INCORRECT, WRITE THE WORD THAT MAKES THE STATEMENT
WRONG.

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* Required

Voluntary disclosure is important in transparency or openness of 1 point


organization. What can serve as an indicator or activity of the firm to
support voluntary disclosure *

PRESS RELEASES

In determining the scope of the audit, the internal auditor will need to 1 point
consider their stakeholders’ expectations (TRUE OR FALSE) *

TRUE

1st E in 3E's of good governance according to UN public administration * 1 point


EFFICIENCY

2ND E in 3E's of good governance according to UN public administration * 1 point

EFFECTIVENESS

who PERFORMS governance audit * 1 point

INTERNAL AUDITOR

a characteristic of governance means that decisions taken and their 1 point


enforcement are done in a manner that follows rules and regulations. It also
means that information is freely available and directly accessible to those
who will be affected by such decisions and their enforcement. *

equity and inclusiveness

accountable

transparent

follows the rule of law

The BOD has the extensive powers of controlling the organization, a 1 point
weakness aspect of the shareholders (true or false) *

TRUE
Good governance characteristics requires that institutions and processes 1 point
try to serve all stakeholders within a reasonable timeframe. *

RESPONSIVENESS

the focus of governance is ownership because it will provide resources to 1 point


the organization (true or false) *

TRUE

underlying concept of governance the attitude of doubting knowledge 1 point


claims set forth in various areas and making use of informed judgement *

SCEPTICISM

underlying concept of governance perceived as providing more value and 1 point


how others view your character *

REPUTATION

What can serve as indicator of transparency or openness of organization * 1 point

CLEAR DISCLOSURE

good governance is a process where rules and well functioning institutions 1 point

are applied to manage affairs in a manner that safeguards resources *

OECD
WORLD BANK

Institute of Internal Auditors

Cadbury report

with the voting power of the shareholders it can remove or elect the board 1 point
of director ( true or false) *

TRUE

IN determining the SCOPE of governance audit there are factors to 1 point


consider. the 1st factor is *

STAKEHOLDERS EXPECTATIONS

underlying concept of governance is equated with answerability, 1 point

blameworthiness, liability, and the expectation of account-giving *

ACCOUNTABILITY

According to IIA definition, who should implement governance * 1 point

BOARD

Governance is the combination of processes and structures implemented 1 point


by the board to inform, direct, manage, and monitor the activities of the
organization toward the achievement of its objectives *

OECD
OECD

Cadbury report

Institute of Internal Auditors

WORLD BANK

underlying concept of governance with high moral character and 1 point

competent in doing his tasks *

INTEGRITY

underlying concepts in governance is important to look into the interest of 1 point

shareholders, BOD and other stakeholders to balance their goals (true or


false) *

TRUE

common to all definition of governance, there is a need to manage the firm 1 point
in order to have adequate and appropriate system of control so that we
can ____ *

MITIGATE RISK

Management activities and management powers is all about governance 1 point

(true or false) *

MANAGEMENT ACTIVITIES

In determining the scope of the audit, the internal auditor will need to 1 point
consider their stakeholders’ expectations (TRUE OR FALSE) *
consider their stakeholders expectations (TRUE OR FALSE)

TRUE

a characteristic of governance that requires all groups, but particularly the 1 point

most vulnerable, have opportunities to improve or maintain their well


being. *

accountable

follows the rule of law

equity and inclusiveness

transparent

governance is a system by which companies will be directed and controlled 1 point


*

OECD

Cadbury report

UN

WORLD BANK

Corporate governance is all about formulating strategies and choosing 1 point


which strategy is best to the organization (true or false) *

FORMULATING STRATEGIES
agency problem arises due to anglo saxon model since the ownership and 1 point
control is vested to the board (true or false) *

OWNERSHIP

it is an underlying concept associated with an honest disposition to serve. * 1 point

HONESTY

What activity in the organization exemplify FAIRNESS * 1 point

VOTING

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