How would you weigh risk against return? Is there a point
when return makes risk invalid? Explain your answer well.
# 4
When is insurance beneficial? Is insurance ever not
beneficial? Explain your answer very well.
# 5
Where would you begin an evaluation of an internal control
system? Please explain why?
# 6
What are some major components of an internal control
system? Are these components always necessary? Explain your answer.
# 7
Explain the details of a fraud scheme that internal
controls, due to inherent limitations, cannot impede
# 8
Describe some considerations for observing physical
inventory. Explain a fraud scheme that could be used for inventory.
# 9
Explain how a company’s growth can outpace current controls
and provide an example
# 10
Explain some major risks inherent in the payroll cycle. How
can these risks be mitigated?
# 11
Explain how controls and security are related for
information assets
# 12
Explain the links between business continuity, system
availability, and disaster recovery?
