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Exam IIA-CIA-Part2 topic 5 question 40 discussion

Actual exam question from IIA's IIA-CIA-Part2
Question #: 40
Topic #: 5
[All IIA-CIA-Part2 Questions]

After the team member who specialized in fraud investigations left the internal audit team, the chief audit executive decided to outsource fraud investigations to a third party service provider on an as needed basis. Which of the following is most likely to be a disadvantage of this outsourcing decision?

  • A. Cost.
  • B. Independence.
  • C. Familiarity.
  • D. Flexibility.
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Suggested Answer: C 🗳️
by missCIA at Nov. 15, 2020, 2:19 p.m.

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Kozy
1 week, 6 days ago
Selected Answer: C
Outsourcing fraud investigations can be a practical solution when internal expertise is unavailable. However, it also introduces certain trade-offs, especially regarding how well the external party understands the organization's operations, culture, and control environment — this is known as familiarity.
upvoted 1 times
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AFD22
7 months, 2 weeks ago
Selected Answer: A
Cost is the most disadvantage bec of payment for this high!
upvoted 1 times
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7TQMway
10 months, 3 weeks ago
Internal auditor has the advantage of knowing people within the organization and policy, procedures, etc.
upvoted 1 times
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missCIA
1 year, 2 months ago
Familiarity?
upvoted 1 times
Thila
1 year, 2 months ago
I believe familiarity here is in the concept of the expertise and experience from the team member who specialized in fraud investigations.
upvoted 1 times
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C (25%)
B (20%)
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