During an Audit of a Branch Bank, an Internal Auditor

question 250

Multiple Choice

During an audit of a branch bank, an internal auditor learned that a series of system failures had resulted in a four-day delay in processing customers' scheduled payroll direct deposits. The first failure was that of a disk drive, followed by software and other minor failures. Which of the following controls should the auditor recommend to avoid similar delays in processing?

• A) Contingency planning.
• B) Redundancy checks.
• C) Process monitoring.
• D) Preventive maintenance.

Identify and differentiate between types of financial ratios such as liquidity, activity, leverage, and profitability ratios.

Apply financial ratio analysis for assessing a firm’s short-term solvency through liquidity ratios.

Utilize financial ratios to evaluate a firm's efficiency in asset management through activity ratios.

Assess a firm’s long-term solvency through leverage ratios.

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Definitions:

Memory Acquisition

The process of obtaining new information and storing it in the brain.

Intellectual Record

Intellectual record typically refers to documented outcomes of intellectual activities, including writings, inventions, or academic achievements.

Working Memory

is a cognitive system with a limited capacity that is responsible for temporarily holding information available for processing.

Recall

The act of retrieving information or events from memory without having them present in the environment.