Which of the following statements is true regarding a drawback of using internal control questionnaires (ICQs)?

The correct answer is A. When internal auditors need to cover many control procedures using ICQs is generally less. A drawback of using Internal Control Questionnaires (ICQs) is that they can be less efficient than conducting observations and inspections when many control procedures need to be covered. ICQs can be time-consuming to complete and may not provide the depth of understanding that…

Performing the Engagement

Question

Options

AWhen internal auditors need to cover many control procedures using ICQs is generally less
BIt is generally difficult for internal auditors lo compile appropriate ICQs for business activities that
CICQs are inadequate to provide effective assurance on how organizational processes are executed
DIt is generally difficult for internal auditors to process completed questionnaires, because ICQs

How the community answered

(16 responses)

A
94% (15)
C
6% (1)

Explanation

A drawback of using Internal Control Questionnaires (ICQs) is that they can be less efficient than conducting observations and inspections when many control procedures need to be covered. ICQs can be time-consuming to complete and may not provide the depth of understanding that direct observation and inspection can achieve. They often require follow-up to clarify responses, which can further increase the time and resources needed to obtain the necessary assurance.

Topics

#internal control questionnaires#ICQ limitations#data gathering tools#audit efficiency

Community Discussion

No community discussion yet for this question.

Full IIA-CIA-PART2 Practice