IIA
IIA-CIA-PART1 · Question #162
IIA-CIA-PART1 Question #162: Real Exam Question with Answer & Explanation
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Question
An internal audit of warehouse inventory revealed no material deficiencies. However, management later discovered fraud, which occurred during the period that was audited, and determined that a major control deficiency allowed the fraud to occur. Given management's discovery, which of the following statements is valid?
Options
- AThe internal auditors violated the standard for due professional care because they did not detect
- BThe internal auditors should have had sufficient knowledge of fraud to identify red flags indicating
- CThe internal auditors could not have detected the fraud due to collusion among employees in the
- DThe internal auditors are not responsible for considering fraud risk, which is a management
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