Exam IIA-CIA-Part1 topic 1 question 95 discussion

Actual exam question from IIA's IIA-CIA-Part1

Question #: 95
Topic #: 1

In an assurance engagement of treasury operations, an internal auditor is required to consider all of the following issues except:

A. The audit committee has requested assurance on the treasury department's compliance with a new policy on the use of financial instruments.
B. Treasury management has not instituted any risk management policies.
C. Due to the recent sale of a division, the amount of cash and marketable securities managed by the treasury department has increased by 350 percent.
D. The external auditors have indicated some difficulties in obtaining account confirmations.

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Suggested Answer: D 🗳️

by NadiaD at Feb. 22, 2021, 8:34 p.m.

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021070e

9 months, 3 weeks ago

D means the external audit got the confirmation at the end!

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Umard

2 years, 8 months ago

The question said except...so all other options are worth considering except D

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thabash

3 years, 11 months ago

its responsibility of the external auditor to get the details and documents from finance department and they have to inform the board about this difficulties

upvoted 2 times

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NadiaD

3 years, 11 months ago

why D?

upvoted 1 times

John1237

2 years, 8 months ago

Option D is not a procedure to be deployed (or issues to consider) during the engagement.

upvoted 1 times

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Ahmad3224

3 years, 6 months ago

because it's an assurance engagement not an audit engagement

upvoted 1 times

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