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  • Sample Deviation Rate No. of Expectations in Sample / Sample Size

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    RM Robles
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    The document discusses various corporate governance and internal control topics including: 1) Whether an investment by a corporation's board of directors would be considered ultra vires and voidable or valid if ratified by shareholders. 2) The primary purpose of risk assessment in an organization's risk management process. 3) That management should be able to accurately eliminate risk through effective internal controls. 4) The role of audit committees in establishing independence for internal auditors.

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    The document discusses various corporate governance and internal control topics including: 1) Whether an investment by a corporation's board of directors would be considered ultra vires and voidable or valid if ratified by shareholders. 2) The primary purpose of risk assessment in an organization's risk management process. 3) That management should be able to accurately eliminate risk through effective internal controls. 4) The role of audit committees in establishing independence for internal auditors.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    13 views3 pages

    Sample Deviation Rate No. of Expectations in Sample / Sample Size

    Uploaded by

    RM Robles
    The document discusses various corporate governance and internal control topics including: 1) Whether an investment by a corporation's board of directors would be considered ultra vires and voidable or valid if ratified by shareholders. 2) The primary purpose of risk assessment in an organization's risk management process. 3) That management should be able to accurately eliminate risk through effective internal controls. 4) The role of audit committees in establishing independence for internal auditors.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 3

    G20/OECD Principles of Corporate X Corp, status of the investment?

    Governance? -Yes, it is an ultra vires act of its Board


    -Unification of ownership and control of Directors but voidable only, subject
    to stockholders’ ratification.
    organization’s risk management process?
    -processes are being met “Error”
    -An incorrect accounting estimate
    Five friends from PUP
    -competitors obtained evidence concerning…
    -Completeness
    assurance engagement?
    -subject matter against criteria. Detrimental good compliance environment?
    -A company that rewards employees
    relationship between required?
    -Inverse According to COSO, not true about the
    combined system.?
    effective internal control? -Management can accurately
    -Eliminates risk
    Annual review… event of a significant flood:
    minimum gross margins on sales -Employees might be unable to report
    -Directive controls for work

    sample deviation rate equals This refers to any individual


    -sample deviation rate= no. of expectations in sample / -stakeholders
    sample size

    to achieve independence? ABS-CBN franchise renewal

    -Establish an audit committee -DOS Attack

    concerning risk assessment? authorized, complete, and accurate

    -The primary purpose of risk assessment -Input controls

    SEC Code of Corporate Governance?


    -Its provisions are discretionary
    tests of controls is that statistical methods …. In a small company
    -Provide an objective basis for -Direct participation
    quantitatively evaluating sampling risks
    detective control for the procurement function?
    Corporate powers -Goods received are counted and
    -Determining management compared
    compensation
    tragedy of the commons?
    In order for ERM to be successful, -People are likely to use all
    -the top
    compromises the independence……
    Proper accounting disclosure -Internal auditors frequently draft
    -transparency revised procedures

    The principle on employees’ participation Corporate Governance is designed


    requires that -issues arising separation
    -A mechanism for employee
    participation describes the role of the board?
    -Set proper organization culture
    An internal auditor must have…
    -Proficiency in applying internal deterring fraud is to…..
    auditing standards -Examine and evaluate the system of
    internal control.
    mission of internal auditing?
    -To achieve objectives of the best illustrates risk?
    organization
    -Buying a Lotto Ticket

    Bank management suspects


    purpose of corporate governance?
    -Reviewing a representative sample of
    -To build an environment of TTA
    loan files

    A person who has no valid claim


    misappropriation of assets, except…
    -Recurring negative cash flows False, false

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