Exam IIA-CIA-Part2 topic 5 question 138 discussion

Actual exam question from IIA's IIA-CIA-Part2

Question #: 138
Topic #: 5

An audit observation noted that annual inventory counts of biofuel was not being performed appropriately. Fuel yards were not visited and physical amounts of biofuel were not reconciled with accounting data. Management of the division understood the issue and promised to resolve the problem. When should the internal auditor schedule a follow-up review?

A. As soon as possible; no later than two months after the audit.
B. When convenient for both parties.
C. When management has indicated that the issue has been resolved.
D. Before financial year end.

Show Suggested Answer

Suggested Answer: C 🗳️

by 8aaab27 at July 17, 2024, 2:06 p.m.

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83b5204

3 months, 3 weeks ago

Selected Answer: A

A prompt follow-up review is typically expected within a few months after the original audit, particularly in high-risk areas. This ensures that the agreed-upon actions have been addressed in a timely manner and provides management with assurance about the effectiveness of the corrective measures. So i think answer is A

upvoted 1 times

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8aaab27

7 months, 2 weeks ago

Selected Answer: C

C makes sense

upvoted 4 times

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Exam IIA-CIA-Part2 topic 5 question 138 discussion

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