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| Section | Objectives |
|---|---|
| Business Acumen and Global Business Environment | - Organizational structure and business processes - Business strategies and objectives alignment - Global business environment and market influences |
| Risk Management and Regulatory Environment | - Compliance and regulatory frameworks - Enterprise risk management (ERM) principles - Internal controls and governance concepts |
| Financial Management | - Financial statements and reporting basics - Budgeting and cost control - Managerial accounting concepts |
| Information Technology and Business Systems | - System development lifecycle concepts - Information systems and data governance - IT controls and cybersecurity fundamentals |
| Information Security and Business Continuity | - Data protection and privacy considerations - Business continuity and disaster recovery - Information security management principles |
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NEW QUESTION # 258
Which of the following IT disaster recovery plans includes a remote site dessgnated for recovery with available space for basic services, such as internet and telecommunications, but does not have servers or infrastructure equipment?
Answer: D
Explanation:
An IT disaster recovery plan (DRP) ensures business continuity by defining backup and recovery sites. These sites differ based on their level of readiness.
Let's analyze the answer choices:
Option A: Frozen site
Incorrect. "Frozen site" is not a recognized term in IT disaster recovery planning. The three common categories are cold, warm, and hot sites.
Option B: Cold site
Correct.
A cold site is a designated recovery location that provides only basic facilities such as power, space, internet, and telecommunications.
It does not include servers, infrastructure, or pre-installed systems, meaning that it requires significant setup time before becoming operational.
IIA Reference: Business continuity and IT risk management frameworks classify cold sites as a cost-effective but slower disaster recovery option. (IIA GTAG: Business Continuity Management) Option C: Warm site Incorrect. A warm site includes some pre-installed hardware and software, allowing faster recovery compared to a cold site.
Option D: Hot site
Incorrect. A hot site is fully operational with real-time data replication, enabling an immediate switchover in case of disaster.
NEW QUESTION # 259
What must be monitored in order to manage the risk of consumer product inventory obsolescence?
* Inventory balances.
* Market share forecasts.
* Sales returns.
* Sales trends.
Answer: D
Explanation:
Inventory obsolescence risk is driven mainly by whether inventory on hand can be sold before it becomes outdated, unsellable, or requires markdown. Monitoring inventory balances is essential because excessive quantities, slow-moving items, or aging stock indicate potential obsolescence. Monitoring sales trends is equally important because declining sales may show reduced demand, product substitution, seasonal changes, or market rejection. Together, these measures help management identify items requiring discounting, production changes, procurement reduction, or write-down evaluation. Market share forecasts may provide broader strategic insight, but they are less direct for managing existing inventory obsolescence. Sales returns may indicate quality or customer satisfaction problems, but returns alone do not adequately measure whether inventory is becoming obsolete. Therefore, the necessary monitoring items are inventory balances and sales trends, making Option C correct.
NEW QUESTION # 260
Which of the following statements, is true regarding the capital budgeting procedure known as discounted payback period?
Answer: B
Explanation:
The discounted payback period (DPP) is a capital budgeting technique that determines how long it takes for a project's discounted cash flows to recover its initial investment. Unlike the regular payback period, the DPP accounts for the time value of money by discounting future cash flows.
* (A) It calculates the overall value of a project.
* Incorrect. The discounted payback period only measures how long it takes to recover the initial investment-it does not determine the overall value of a project. Net Present Value (NPV) and Internal Rate of Return (IRR) are used to evaluate a project's overall value.
* (B) It ignores the time value of money.
* Incorrect. Unlike the regular payback period, the discounted payback period accounts for the time value of money by discounting future cash flows using a required rate of return.
* (C) It calculates the time a project takes to break even. #
* Correct. The discounted payback period determines how long it takes for the present value of cash inflows to recover the initial investment. It helps assess the risk and liquidity of a project.
* IIA GTAG "Auditing Capital Budgeting and Investment Decisions" states that discounted payback is useful for assessing the risk of projects by considering cash flow recovery time.
* (D) It begins at time zero for the project.
* Incorrect. The calculation starts at time zero (when the investment is made), but the method itself focuses on future discounted cash flows to determine the break-even point.
* IIA GTAG - "Auditing Capital Budgeting and Investment Decisions"
* COSO ERM Framework - Capital Investment Risk Management
* GAAP/IFRS - Discounted Cash Flow Methods
Analysis of Answer Choices:IIA References:Thus, the correct answer is C, as the discounted payback period measures the time needed to break even after adjusting for the time value of money.
NEW QUESTION # 261
While auditing an organization's customer call center, an internal auditor notices that key performance indicators show a positive trend despite the fact that there have been increasing customer complaints over the same period Which of the following audit recommendations would most likely correct the cause of this inconsistency?
Answer: D
NEW QUESTION # 262
Which of the following describes a typical desktop workstation used by most employees in their daily work?
Answer: C
NEW QUESTION # 263
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