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Exam IIA-CIA-Part2 All Questions

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Exam IIA-CIA-Part2 topic 2 question 45 discussion

Actual exam question from IIA's IIA-CIA-Part2
Question #: 45
Topic #: 2
[All IIA-CIA-Part2 Questions]

As part of an operational audit, an auditor compared records of current inventory with usage during the prior two-year period and determined that the spare parts inventory was excessive. What step should the auditor perform first?

  • A. Determine the effects of a stock-out on the organization's profitability.
  • B. Determine whether a clear policy exists for setting inventory limits.
  • C. Determine who approved the purchase orders for the spare parts.
  • D. Determine whether purchases were properly recorded.
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Suggested Answer: B 🗳️

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KonradK
4 months, 2 weeks ago
Setting criteria first
upvoted 3 times
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