OCEG GRCA Dumps Updated Jul 09, 2025 WIith 47 Questions
View All GRCA Actual Free Exam Questions Jul 09, 2025 Updated
NEW QUESTION # 24
Which of these is defined as "externally directing, controlling and evaluating an entity, process or resource"
- A. Assurance
- B. Governance
- C. Management
Answer: B
NEW QUESTION # 25
When performing an Assessment, it is important to NEVER change the execution plan
- A. True. Never, ever change the plan.
- B. False. As information is uncovered, adjust procedures as appropriate.
Answer: B
Explanation:
When performing an assessment, it is important to remain flexible and adjust the execution plan as new information is uncovered. This adaptive approach ensures that the assessment remains relevant and effective in identifying issues and areas for improvement. Rigidly adhering to theoriginal plan, regardless of new findings, can result in missed opportunities to address critical risks and controls. Adjusting procedures as appropriate based on new information enhances the overall quality and effectiveness of the assessment.References:
* ISO 19011:2018 - Guidelines for auditing management systems
* COSO Internal Control - Integrated Framework
NEW QUESTION # 26
When planning an Assessment, it is important to
- A. NOT include the personnel who perform the work being assessed. They will pollute the process.
- B. INCLUDE the personnel who perform the work being assessed. They will help to inform Assessment staff and help to adjust parameters if necessary.
Answer: B
Explanation:
Including the personnel who perform the work being assessed in the planning process is important because they possess valuable insights and knowledge about the processes and controls in place. Their involvement helps to ensure that the assessment is accurately scoped and relevant parameters are set. They can provide context and clarify operational details, contributing to a more effective and targeted assessment. Moreover, their engagement can foster a cooperativeenvironment and facilitate smoother assessment execution.
References:
* ISO 19011:2018 - Guidelines for auditing management systems
* COSO Internal Control - Integrated Framework
NEW QUESTION # 27
What are the common attributes of an assurance professional?
- A. Objectivity, competence and fallibilism
- B. Independence, objectivity and diligence
- C. Objectivity, independence and freedom
Answer: B
NEW QUESTION # 28
What are the dimensions of TOTAL Performance?
- A. Effectiveness, Resiliency, and Agility
- B. Agility, Efficiency and Effectiveness
- C. Effectiveness, Efficiency and Reponsiveness
Answer: A
Explanation:
The dimensions of TOTAL Performance are Effectiveness, Resiliency, and Agility. Effectiveness refers to achieving the desired outcomes. Resiliency is the ability to recover from setbacks and continue operations.
Agility is the capacity to adapt quickly to changes and new opportunities. These three dimensions collectively ensure that an organization can perform well under various conditions and sustain its success over time.
References:
* ISO 9001:2015 - Quality management systems - Requirements
* COSO Enterprise Risk Management - Integrating with Strategy and Performance
NEW QUESTION # 29
Which one of these is most associated with a "measure of how well we are addressing opportunities"
- A. Risk
- B. Compliance
- C. Performance
Answer: C
Explanation:
Performance is most associated with a "measure of how well we are addressing opportunities." Performance management focuses on setting goals, monitoring progress, and evaluating outcomes to ensure that an organization is effectively taking advantage of opportunities to achieve its objectives. It involves measuring and managing activities that lead to improved efficiency, effectiveness, and innovation. By addressing opportunities, organizations can enhance their performance and create value.References:
* ISO 9001:2015 - Quality management systems - Requirements
* Balanced Scorecard Institute - Performance Management Framework
NEW QUESTION # 30
Assessments should be selected based on
- A. What the latest research reports says
- B. How objectives connect and prioritize the risk universe and assessment universe
- C. Personal opinion
Answer: B
Explanation:
Assessments should be selected based on how objectives connect and prioritize the risk universe and assessment universe. This approach ensures that the assessments are aligned with the organization's strategic goals and that the most significant risks are addressed. It involves understanding the organization's risk landscape and prioritizing assessments that focus on theareas of highest impact and relevance to achieving objectives.References:
* ISO 31000:2018 - Risk management - Guidelines
* COSO Enterprise Risk Management - Integrating with Strategy and Performance
NEW QUESTION # 31
What is the BEST sequence of testing
- A. Substantive testing and then control testing
- B. Control testing and then substantive testing
Answer: B
Explanation:
The best sequence of testing is to conduct control testing first and then substantive testing. This approach ensures that the effectiveness of internal controls is evaluated before examining the details of transactions and data. By testing controls first, assurance providers can determine if controls are reliable and can potentially reduce the extent of substantive testing needed. Effective controls can provide confidence that transactions and data are accurate, reducing the need for extensive substantive testing.References:
* AICPA Auditing Standards
* ISO 19011:2018 - Guidelines for auditing management systems
NEW QUESTION # 32
Which two factors drive the potential level of assurance that an assurance provider may target?
- A. Freedom and Disinterest
- B. Independence and Freedom
- C. Competence and Objectivity
Answer: C
Explanation:
The two factors that drive the potential level of assurance an assurance provider may target are competence and objectivity. Competence refers to the assurance provider's knowledge, skills, and experience necessary to perform the assessment effectively. Objectivity refers to the assurance provider's impartiality and independence from the area being assessed, ensuring that the assessment is unbiased and credible. Both factors are essential for providing a reliable and accurate assurance.References:
* IIA Standards for the Professional Practice of Internal Auditing
* ISO 19011:2018 - Guidelines for auditing management systems
NEW QUESTION # 33
How would the following test be classified?
The Assurance Provider inspects the use of a RACI template in the field to see how it is being used.
- A. Substantive test
- B. Control test
Answer: A
Explanation:
Inspecting the use of a RACI template in the field to see how it is being used is classified as a substantive test.
This test involves examining actual instances of the RACI template's application to verify its proper use in practice. It goes beyond evaluating the design of the control (the template itself) and looks at the real-world implementation and effectiveness, providing evidence on how the control operates in practice.
References:
AICPA Auditing Standards
ISO 19011:2018 - Guidelines for auditing management systems
NEW QUESTION # 34
What are the common attributes of an assurance professional?
- A. Objectivity, competence and fallibilism
- B. Independence, objectivity and diligence
- C. Objectivity, independence and freedom
Answer: B
Explanation:
The common attributes of an assurance professional are independence, objectivity, and diligence.
Independence ensures that the assurance professional is free from any influence or conflict of interest that could affect their judgment. Objectivity refers to the ability to provide an unbiased and impartial assessment.
Diligence involves a thorough and careful approach to the assurance process, ensuring that all relevant aspects are evaluated and reported accurately. These attributes are essential for maintaining the credibility and reliability of assurance activities.References:
* IIA Standards for the Professional Practice of Internal Auditing
* ISO 19011:2018 - Guidelines for auditing management systems
NEW QUESTION # 35
What level of assurance is required for an assessment?
- A. Medium
- B. High
- C. An assessment may target any level of assurance. The key is to define this level prior to setting the purpose and parameters.
- D. Low
Answer: C
Explanation:
The level of assurance required for an assessment can vary depending on the purpose, scope, and objectives of the assessment. It is crucial to define the desired level of assurance (low, medium, or high) before beginning the assessment to ensure that the approach, methodology, and resources allocated are appropriate. This helps in setting clear expectations and aligning the assessment process with the organization's risk tolerance and regulatory requirements.References:
* ISO 19011:2018 - Guidelines for auditing management systems
* COSO Enterprise Risk Management - Integrating with Strategy and Performance
NEW QUESTION # 36
Reasonable assurance is a...
- A. medium level of assurance
- B. high level of assurance
- C. low level of assurance
Answer: B
Explanation:
Reasonable assurance is considered a high level of assurance. It indicates that the assurance provider has conducted a thorough and rigorous evaluation, although it does not guarantee absolute certainty. Reasonable assurance is commonly used in auditing and risk management contexts to provide stakeholders with confidence that the organization is operating effectively and complying with relevant standards and regulations.References:
* ISO 31000:2018 - Risk management - Guidelines
* AICPA Auditing Standards
NEW QUESTION # 37
The parameters of an Assessment include
- A. Evidence, Tests and Outcomes
- B. Scope, Criteria and Nature of Testing
- C. Scope, Tests and Evidence
Answer: B
Explanation:
The parameters of an assessment include Scope, Criteria, and Nature of Testing. These elements define the boundaries and focus of the assessment:
* Scope:Defines the areas, processes, and activities to be assessed.
* Criteria:Specifies the standards, policies, and regulations against which the assessment will be conducted.
* Nature of Testing:Describes the types and extent of testing procedures that will be employed to gather evidence and evaluate compliance and performance.
These parameters ensure that the assessment is well-structured, targeted, and aligned with the objectives and requirements of the organization.References:
* ISO 19011:2018 - Guidelines for auditing management systems
* COSO Internal Control - Integrated Framework
NEW QUESTION # 38
Achieving Principled Performance means to:
- A. Recycle
- B. Be an ethical performer
- C. Reliably achieve objectives, address uncertainty and act with integrity
Answer: C
Explanation:
Achieving principled performance means reliably achieving objectives, addressing uncertainty, and acting with integrity. This concept integrates the management of performance, risk, and compliance to ensure that an organization not only meets its goals but does so ethically and sustainably. It involves creating a culture of accountability, transparency, and ethical behavior while systematically managing risks and ensuring compliance with relevant regulations and standards. Principled performance is about achieving success while maintaining high standards of integrity and responsibility.References:
* OCEG (Open Compliance and Ethics Group) Red Book GRC Capability Model
* ISO 37001:2016 - Anti-bribery management systems
NEW QUESTION # 39
You must use GRC Assessment Tools to do a GRC Assessment
- A. False
- B. True
Answer: A
Explanation:
While GRC Assessment Tools can greatly aid in conducting a GRC assessment by providing structured methodologies and frameworks, it is not mandatory to use them. Assessments can be conducted using other methods and tools as long as they are systematic and thorough. The key is to apply professional judgment and ensure the assessment is comprehensive and aligned with the organization's needs.References:
* ISO 31000:2018 - Risk management - Guidelines
* COSO Internal Control - Integrated Framework
NEW QUESTION # 40
Follow-up on the implementation status of the recommendation from within the area being assessed is known as:
- A. Follow-Up by Process Owner
- B. Follow-Up by Targeted Review
- C. Follow-Up by Independent Assurance
Answer: A
Explanation:
Follow-up on the implementation status of the recommendation from within the area being assessed is known as Follow-Up by Process Owner. This approach involves the individuals responsible for the area under assessment reviewing the progress of implementing recommendations and controls. It ensures that those directly involved in the process take ownership and accountability for addressing the identified issues.
References:
* ISO 19011:2018 - Guidelines for auditing management systems
* COSO Internal Control - Integrated Framework
NEW QUESTION # 41
Which of the following is defined as "a measure of the desirable effect of uncertainty on objectives?
- A. Risk
- B. Compliance
- C. Reward
Answer: A
Explanation:
Risk is defined as a measure of the desirable effect of uncertainty on objectives. According to the ISO 31000 standard, risk is "the effect of uncertainty on objectives" which can be either positive (opportunity) or negative (threat). This definition encompasses the uncertainty that can impact the achievement of goals and objectives.
It highlights that risk is not just about potential losses but also about potential gains that come from taking risks.References:
* ISO 31000:2018 - Risk management - Guidelines
* NIST SP 800-30 Rev. 1 - Guide for Conducting Risk Assessments
NEW QUESTION # 42
Follow-up on the implementation status of the recommendation based on high priority, due or overdue items or time-sensitive items is known as:
- A. Follow-Up by Process Owner
- B. Follow-Up by Targeted Review
- C. Follow-Up by Independent Assurance
Answer: B
Explanation:
Follow-up on the implementation status of recommendations based on high priority, due or overdue items, or time-sensitive items is known as Follow-Up by Targeted Review. This approach focuses on areas that are of critical importance or where timely implementation is essential. It helps ensure that the most significant risks are addressed promptly and that any delays in addressing recommendations are identified and managed.
References:
* IIA Standards for the Professional Practice of Internal Auditing
* COSO Internal Control - Integrated Framework
NEW QUESTION # 43
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