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Exam IIA-CIA-Part2 topic 5 question 343 discussion

Actual exam question from IIA's IIA-CIA-Part2
Question #: 343
Topic #: 5
[All IIA-CIA-Part2 Questions]

An internal auditor examined a nonstatistical sample of open accounts receivable balances and discovered that 10 out of 60 exceeded the approved, unsecured credit limit threshold defined by the organization's policy. What should the auditor document in the workpapers?

  • A. Credit limit overdrafts are not monitored in accordance with the organization's policy.
  • B. Seventeen percent of customers' open balances in the sample exceed their approved, unsecured credit limit.
  • C. The threshold for credit limits defined by the organization's policy is not adequate.
  • D. Management should perform monthly monitoring of open customer balances.
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Suggested Answer: B 🗳️
by emtofid at Sept. 17, 2024, 2:30 p.m.

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emtofid
4 months, 2 weeks ago
Selected Answer: B
B is the factual condition.
upvoted 3 times
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