Key elements essential for an effective vendor fraud prevention program include each of the following practices, EXCEPT:

• A. Confirmation of a physical address
• B. Requiring a W-9
• C. Checking government sanction lists
• D. Verifying that vendors are bonded

COSO identifies each of the following elements as necessary for an effective control environment, EXCEPT:

• A. Information is distributed in a timely way
• B. People know their responsibilities and limits of authority
• C. Staff work in self-directed teams
• D. Internal controls are monitored and evaluated

In order to be SOX compliant, the T&E process in the U.S. must:

• A. II only (Provide a reliable approval workflow)
• B. I only (Ensure correct and accurate recordkeeping)
• C. I and III only (Ensure correct and accurate recordkeeping; Include report generation with visibility at all required levels)
• D. I and II only (Ensure correct and accurate recordkeeping; Provide a reliable approval workflow)

What is an efficient way to handle vendor contact information in the VMF that is likely to change frequently?

• A. Conduct a thorough audit of vendor names and addresses semiannually and make all changes discovered
• B. Include only the vendor web address in the VMF and check online to find the right contact as needed
• C. Include in the vendor contract that you must be notified of any personnel changes in writing
• D. Assign an individual to review the contact information for these vendors on a weekly basis

Which of the following is true about a recurring wire transfer?

• A. It is made for the same amount each time
• B. It is made at the same time each week
• C. It is made to the same organization each time
• D. It must be made through CHIPS