IIA-CIA-PART2 Question #410: Real Exam Question with Answer & Explanation

The correct answer is B. Wire transfers that exceeded $10,000 in the last 12 months will be analyzed.. The engagement scope outlines the specific boundaries, focus areas, and activities that the internal audit will examine. The analysis of wire transfers exceeding $10,000 within a specified timeframe is a clear, specific task that defines what will be reviewed during the engagemen

Question

Which of the following would most likely form part of the engagement scope?

Options

APotential legislation on privacy topics will be employed as a compliance target.
BWire transfers that exceeded $10,000 in the last 12 months will be analyzed.
CBoth random and judgmental samplings will be used during the engagement.
DThe probability of significant errors will be considered via risk assessment.

Explanation

The engagement scope outlines the specific boundaries, focus areas, and activities that the internal audit will examine. The analysis of wire transfers exceeding $10,000 within a specified timeframe is a clear, specific task that defines what will be reviewed during the engagement, making it a typical element of an engagement scope.

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