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Established: November 15, 2011
Class Name
J-SOX Training !"2011#Com$rehension Test#
mar%h 1, 2012 &ev' 1'1
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(ntrod)%tion
Time re*)ired +$$ro' 10 min)tes
assing s%ore +ll 10 *)estions m)st be %orre%tl. ans/ered'
asi% instr)%tions Cli% to sho/ the %orre%t ans/er'
+n e$lanation is $rovided at the end'
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No' 2 !ill in the blan#
Com$lete the ollo/ing senten%es b. %hoosing the letter o the
e$ressions that go in ea%h blan'(n J-SOX, 1 # dei%ien%. reers to a $roblem in b)siness $ro%ess
design, /hile 2 # dei%ien%. reers to a $roblem in a%t)al o$eration'
O$tions a# 1: a des 2# an a%t)al
b# 1: a $lan 2: an ee%)tion
%# 1: a design 2: an o$erational
d# 1: a me%hanism 2: a $ra%ti%al
e# 1: an ar%hite%t)ral 2: an o$erating
Corre%tans/er
%# 1: a design 2: an o$erational
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No' 4 !ill in the blan#
Com$lete the ollo/ing senten%es b. %hoosing the letter o the
e$ressions that go in ea%h blan'(n J-SOX, a ris is the danger o 1 # or 2 # hidden in dail.
b)siness o$erations and %on%erning 4 #'
O$tions a# 1: mis%al%)lation 2: omission 4: a%%o)nting
b# 1: misa$$ro$riation 2: embe66lement 4: %ash
%# 1: an error 2: ra)d 4: inan%ial re$orting
d# 1: a%tion 2: ina%tion 4: a dei%ien%.
e# 1: diversion 2: a s%am 4: transa%tions
Corre%tans/er
%# 1: an error 2: ra)d 4: inan%ial re$orting
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No' 7 Single %hoi%e#
This is a list o high-ris sit)ations in J-SOX' One o the items does not
belong in this list'Choose the letter o the item that doesn8t belong'
O$tions a# 9a.o)t %hange
b# S.stem %hange %# Channel %hange
d# E%essive de$enden%e on individ)als
e# Organi6ational %hange
Corre%tans/er
a# 9a.o)t %hange
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No' 5 Single %hoi%e#
This is a list o e. $oints in /or$la%e J-SOX a%tivities' One o the
items does not belong in this list'Choose the letter o the item that doesn8t belong'
O$tions a# Establish %omm)ni%ate r)les
b# erorm segregation o d)ties %# &e%eive $ro$er a$$roval
d# 9eave a trail o the /or $erormed
e# erorm .o)r o/n do)ble %he%
Corre%tans/er
e# erorm .o)r o/n do)ble %he%
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No' ; establishment and %omm)ni%ation o r)les'Choose the letter o the o$tion /ith the %orre%t $hrases'
+' Establish and %learl. do%)ment r)les'
' Comm)ni%ate and enor%e r)les in the /or$la%e'
C' Cond)%t an ann)al revie/ to %he% i r)les are still a$$ro$riate or
a%t)al o$eration'
O$tions a# + and
b# + and C
%# and C
d# + and and C
e# None o the above
Corre%t
ans/er
d# + and and C
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No' ? !ill in the blan#
Com$lete the ollo/ing senten%es b. %hoosing the letter o the
e$ressions that go in ea%h blan'Segregation o d)ties in J-SOX sho)ld, at the ver. least, segregate 1
# rom 2 # to ens)re that 4 # is ee%tive'
O$tions a# 1: im$lementation 2: %onirmation and a$$roval4: m)t)al s)$ervision
b# 1: $lanning 2: $ra%ti%e 4: s)$$lementation
%# 1: the $erson in %harge 2: the s)$ervisor 4: ollo/-)$
d# 1: $re$aration 2: ee%)tion 4: %he%ing
e# 1: ee%)tion 2: management 4: verii%ation
Corre%tans/er
a# 1: im$lementation 2: %onirmation and a$$roval4: m)t)al s)$ervision
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No' @ Single %hoi%e#
=hi%h o the ollo/ing o$tions des%ribes the e. /or$la%e a%tivit. o
>re%eiving $ro$er a$$roval>A
O$tions a# The manager /as on a b)siness tri$, so a sli$ /as entered based ona$$roval rom a leader /itho)t delegated a)thorit.'
b# The s.stem /orlo/ /as not )$dated ater the $erson /ith a$$rovala)thorit. %hanged, so a$$roval /as still being granted b. the $revio)s$erson'
%# The manager /as on a b)siness tri$, so the data /as entered aterre%eiving a$$roval over the tele$hone' +n a$$roval stam$ /asre%eived the ollo/ing da.'
d# +n )rgent matter /as $erormed based on verbal a$$roval, and an
a$$roval stam$ /as never so)ght or the a$$li%ation orm' e# The manager /as a/a., so a sli$ /as entered based on a$$roval
rom a dierent manager /itho)t delegated a)thorit.'
Corre%tans/er
%# The manager /as on a b)siness tri$, so the data /as entered aterre%eiving a$$roval over the tele$hone' +n a$$roval stam$ /as
re%eived the ollo/ing da.'
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No' B Single %hoi%e#
=hi%h o the ollo/ing o$tions des%ribes the e. /or$la%e a%tivit. o
>leaving a trail o the /or $erormed>A
O$tions a# The in$)t res)lts are onl. vis)all. %onirmed b. %om$aringthe s.stem s%reen to the orms'
b# Order orms are not retained on%e the. have been enteredinto the s.stem
%# There is no on-site manager and a$$roval is onl. obtainedverball. b. tele$hone'
d# Sli$s are %onirmed, b)t ma. or ma. not be mared /ith a
%onirmation stam$'
e# +ter %he%ing a deliver. sli$, a %onirmation mar is al/a.sstam$ed in the n)mber %ol)mn'
Corre%t
ans/er
e# +ter %he%ing a deliver. sli$, a %onirmation mar is al/a.sstam$ed in the n)mber %ol)mn'
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No' 1 E$lanation 3nder J-SOX, the dieren%e bet/een an Derror> and >ra)d> de$ends on /hether thea%tion /as >intentional> or not' +n >intentional> a%tion that diers rom realit. in%l)desnot onl. matters $ertaining to amo)nts and *)antities b)t also booing dates, o$eration
o a%%o)nts, ail)re to ollo/ $ro$er a$$roval $ro%ed)res, and so on'
No' 2 E$lanation + sit)ation /here internal %ontrol has some ind o $roblem is %alled a >dei%ien%.'>There are t/o t.$es o dei%ien%.: a >design dei%ien%.> that reers to an error inb)siness $ro%ess design, and an >o$erational dei%ien%.> that reers to an error in ana%t)al o$eration'
No' 4 E$lanation (n J-SOX, a >ris> is the $ossibilit. o an Derror> or >ra)d> hidden in dail. b)sinesso$erations and %on%erning inan%ial re$orting' The internal %ontrols are >over inan%ial
re$orting,> so the s%o$e is limited to >matters $ertaining to mone.'>
No' 7 E$lanation There are >sit)ations /ith a high lielihood o o%%)rren%e> o >mistaes> and >ra)d'>Sit)ations involving >%hange> tend to in%l)de man. )nstable and in%om$lete elements,%reating >a high lielihood o o%%)rren%e'> o/ever, sim$le %hanges, s)%h as %hangesin seating arrangement, do not res)lt in o$erational %hanges' Th)s, a >la.o)t %hange>does not %reate >a high lielihood o o%%)rren%e'>
No' 5 E$lanation There are si e. /or$la%e a%tivities in J-SOX: >establish and %omm)ni%ate r)les,>
>$erorm segregation o d)ties,> >re%eive $ro$er a$$roval,> >leave a trail o the /or$erormed,> >do)ble %he% b. third $art.,> and >$ro$er management o a%%ess rights'>
+ltho)gh $eo$le sho)ld al/a.s do)ble %he% their /or, this is not %onsidered to be anee%tive orm o %onirmation in J-SOX be%a)se $eo$le tend to be la /hen doing so'
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No' ; E$lanation There are three e. $oints in the e. /or$la%e a%tivit. o >establish and %omm)ni%ater)les>: >establish and %learl. do%)ment r)les,> >%omm)ni%ate and enor%e r)les in the/or$la%e,> and >%ond)%t an ann)al revie/ to %he% i r)les are still a$$ro$riate or
a%t)al o$eration'> +ll three o these m)st tae $la%e'
No' ? E$lanation 3nder segregation o d)ties, at the ver. least >im$lementation> needs to be segregatedrom >a$$roval and %onirmation'> The m)t)al s)$ervision $rovided b. thisarrangement is vital to the establishment o $ro$er internal %ontrol' This re*)irement%annot be /aived or o$erational reasons s)%h as staing shortages'
No' @ E$lanation DThe re%ei$t o $ro$er a$$rovalF re*)ires that Da$$roval a)thorit.F and >$ro%ed)resste$sGtrailGtiming#> be a$$ro$riate' ( the manager is a/a. on a b)siness tri$, verbal
a$$roval is generall. a%%e$table or $ro%eeding /ith an o$eration' o/ever, there is no>trail> /ith verbal a$$roval, so it m)st be s)$$lemented /ith an a$$roval stam$' (t%annot be %onsidered >$ro$er a$$roval> )nless a %onirmation stam$ is re%eivedater/ards'
No' B E$lanation >9eaving a trail o the /or $erormed> needs to be done in line /ith $redeined r)les'+n )nreliable im$lementation, /here a trail ma. or ma. not be let or the method odoing so de$ends on the $erson, is not eno)gh' The trail does not need to be anoi%ial seal or signat)re, either' ( deined in advan%e, a sim$le %he% mar is s)i%ient'
No' 10 E$lanation There are o)r e. $oints in the e. /or$la%e a%tivit. o >$ro$er management oa%%ess rights>: >a%%ess rights are granted ater a%*)iring $ro$er a$$roval,> >there aredierent levels o a%%ess rights $atterns# s)ited to s$e%ii% d)ties,> >an a$$ro$riatelevel o a%%ess rights is assigned based on d)ties,> and >a%%ess rights are $eriodi%all.inventoried ever. si months# and $ass/ords are %hanged'> +%%ess rights are notbeing $ro$erl. managed i a )ser has a%%ess rights that e%eed the level re*)ired ortheir ob' S)%h sit)ations invite the ris o ra)d' +%%ess rights need to be divided intoa$$ro$riate levels and assigned based on the /or being $erormed'
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