IIA
IIA-CIA-PART2 · Question #276
IIA-CIA-PART2 Question #276: Real Exam Question with Answer & Explanation
Sign in or unlock IIA-CIA-PART2 to reveal the answer and full explanation for question #276. The question stem and answer options stay visible for context.
Question
An internal auditor is conducting a preliminary survey of the investments area, and sends an internal control questionnaire to the management of the function. (An extract of the survey is provided below). 1. Are there any restrictions for any company's investments? 2. Are there any written policies and procedures that document the flow of investment processing? 3. Are investment purchases recorded in the general ledger on the date traded? 4. Is the documentation easily accessible to an persons who need in to perform their job? Which of the following is a drawback of testing methods like this?
Options
- AThey ore kitted as they do not allow the auditor to test many controls.
- BThey do not highlight control gaps
- CThey are not useful for identifying areas on which the auditor should locus.
- DThey are limited as there is a risk that management may not answer fairly.
Unlock IIA-CIA-PART2 to see the answer
You've previewed enough free IIA-CIA-PART2 questions. Unlock IIA-CIA-PART2 for full answers, explanations, the timed quiz mode, progress tracking, and the master PDF. Question stem and options stay visible so you can still see what's on the exam.