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Exam IIA-CIA-Part1 topic 6 question 372 discussion

Actual exam question from IIA's IIA-CIA-Part1
Question #: 372
Topic #: 6
[All IIA-CIA-Part1 Questions]

An internal audit of warehouse inventory revealed no material deficiencies. However, management later discovered fraud, which occurred during the period that was audited, and determined that a major control deficiency allowed the fraud to occur. Given management's discovery, which of the following statements is valid?

  • A. The internal auditors violated the standard for due professional care because they did not detect the fraud, even though it occurred during the period that was reviewed.
  • B. The internal auditors should have had sufficient knowledge of fraud to identify red flags indicating possible fraud.
  • C. The internal auditors could not have detected the fraud due to collusion among employees in the inventory unit.
  • D. The internal auditors are not responsible for considering fraud risk, which is a management responsibility.
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Suggested Answer: D 🗳️
by abdullah01 at March 10, 2024, 6:53 p.m.

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bb769d4
3 months, 2 weeks ago
Why is it not B?
upvoted 1 times
...
Akekaraj
3 months, 3 weeks ago
Answer B
upvoted 1 times
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Elvoo
7 months, 1 week ago
should be B
upvoted 3 times
...
abdullah01
11 months, 4 weeks ago
A is better
upvoted 1 times
...
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