Free Practice Questions for OCEG GRCA Exam

If follow-up discovers that actions and controls haven't been implemented, immediately escalate to the board

• True. Plans must be followed!
• False. Use professional judgement and work with the action owner to understand why plans have not been implemented.

Which of these roles is allowed to conduct assurance?

• Operators
• Management
• Risk Management
• Internal Controls
• Senior Management
• Board
• Information Security
• Internal Audit
• Compliance
• Any and all of these roles can conduct assurance activities given the proper purpose and parameters.

What are the common attributes of an assurance professional?

• Independence, objectivity and diligence
• Objectivity, competence and fallibilism
• Objectivity, independence and freedom

What is the BEST sequence of testing

• Control testing and then substantive testing
• Substantive testing and then control testing

Identifying root causes helps toBe more specific regarding who is to blameFind a solution to fixing not only this problem but potential other problems that result from the same root cause

• Latino
• A QUALIFIED assurance opinion or statement is
• An affirmative statement that subject matter conforms to the suitable criteria and is free from meaningful misunderstanding
• A statement that the assessment didn’t observe anything that makes us doubt whether subject
• matter conforms to the suitable criteria and is free from meaningful misunderstanding.
• A statement that the assessment encountered some limitations in what can be concluded and outside of those limitations a positive or negative statement can be offered.
• Explanation:
• A QUALIFIED assurance opinion or statement indicates that the assessment encountered some limitations, and outside of those limitations, a positive or negative statement can be offered. This type of opinion acknowledges that there are constraints that affected the scope or completeness of the assessment, but within the areas that could be reviewed, the assurance provider can still offer a conclusion. It is a way to communicate the assurance provider's findings while being transparent about any limitations that were encountered.
• Reference:
• IIA Standards for the Professional Practice of Internal Auditing AICPA Auditing Standards

Which one of these is most associated with a "measure of how well we are meeting obligations"

• Performance
• Risk
• Compliance

During Assessment Planning, it is important to conduct a complete risk assessment and conduct detailed testing to understand inherent risks and control risk.

• True. Everything needs to be fully understood before a plan can be finalized.
• False. Limited information gathering and procedures should be conducted to get an initial estimate of inherent risk and control risk so that planning can proceed.

The parameters of an Assessment include

• Evidence, Tests and Outcomes
• Scope, Tests and Evidence
• Scope, Criteria and Nature of Testing

Which one of these is most associated with a "measure of how well we are addressing opportunities"

• Compliance
• Performance
• Risk

To evaluate operating effectiveness

• Conduct control testing
• Conduct substantive testing