IIA-CFSA Exam Dumps - Certified Financial Services Auditor

Hospitals document reserves as that portion of the accounts receivables that they hope to collect but have some doubt about its collectability. Rather than book these amounts as income, hospitals will “____________” These amounts until paid.

The European Central Bank is the central bank for the Europe’s single currency, the EURO.

The ECB’s main task is to maintain the EURO’s:

Recent turmoil in the financial markets illustrate the volatility of the secondary market for subprime loans and the significant liquidity risk incurred when originating a large volume of loans intended for:

When a loan becomes delinquent or when collection seems unlikely, banks often suspend:

A bank may serve as ___________ for a company’s employee benefit and retirement plans.

A client makes the following statement: “If you make us put property tags and numbers on major equipment, next we will have to put tags on every pen, pencil, and paper clip in the place.” This is the argument that if a particular action is taken, it will inevitably lead to another, less desirable action. We may call this:

Off-balance-sheet usually means an asset or debt or financing activity not on the company’s balance sheet. It could involve a lease or a separate subsidiary or a contingent liability such as

___________.

Auditors testing mutual funds transactions will typically focus on whether customer purchases and redemptions are accounted properly. In cases where brokers are used to maintain customer accounts, auditors may need to confirm: