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Which action would an auditor take to evaluate design effectiveness?
Suggested Answer: A
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33 comments · newest first
GE
Gertude
11 months ago
Not sure if just checking policies is enough, need more than that.
AL
Alpha
11 months ago
D is super important too, can't overlook customer records!
DO
Dominga
11 months ago
Wait, how can you be sure alerts are properly escalated? Sounds tricky!
CA
Caprice
12 months ago
I think B is more critical for real-world checks.
CR
Cristy
1 year ago
A is definitely a key step in evaluating design effectiveness.
DO
Dorsey
1 year ago
I lean towards option D since keeping customer records in line with policies seems like a fundamental aspect of design effectiveness, but I could be wrong.
OW
Owen
1 year ago
I feel like option C could be relevant too, but I'm not clear if confirming alerts is directly tied to evaluating design effectiveness.
LA
Lauran
1 year ago
I remember practicing a question similar to this, and I think option B might be more about operational effectiveness rather than design effectiveness.
RE
Reuben
1 year ago
I think option A makes sense because checking for consistency with regulations is crucial for design effectiveness, but I'm not entirely sure if it's the only thing we should look at.
JE
Jeffrey
1 year ago
Okay, I think the key here is to evaluate the design of the controls, not just their implementation. So I'd focus on things like confirming alerts are properly escalated and that customer records are being kept as per policy. That should give me a good sense of the overall design effectiveness.
LO
Lorrie
1 year ago
Hmm, I'm a bit unsure about this one. I'm not sure if I should focus on checking suspicious activity reports, escalating alerts, or customer records. I'll need to think through the different options carefully.
PE
Penney
1 year ago
This seems like a straightforward question about evaluating the design effectiveness of controls. I'd probably start by checking if the policies and procedures are consistent with regulations, as that's a key part of design effectiveness.
MI
Miss
2 years ago
Wait, is this a trick question? I bet the answer is 'All of the above' - gotta cover all your bases, you know?
LA
Lashanda
2 years ago
User 4: D) Confirm that customer records are being kept in accordance with policies and procedures.
LA
Lawrence
2 years ago
User 3: C) Confirm that alerts in transaction monitoring have been properly escalated or waived.
EM
Emerson
2 years ago
User 2: B) Carry out a sample check of suspicious activity reports and make sure they are in line with policies and procedures.
LO
Lorean
2 years ago
User 1: A) Check whether the policies and procedures are consistent with the authorities' regulations.
BR
Brice
2 years ago
Checking suspicious activity reports? Sounds like a wild goose chase to me. Let's keep it simple and look at the big picture.
MI
Mila
2 years ago
D) Confirm that customer records are being kept in accordance with policies and procedures.
QU
Quentin
2 years ago
C) Confirm that alerts in transaction monitoring have been properly escalated or waived.
ED
Edwin
2 years ago
A) Check whether the policies and procedures are consistent with the authorities' regulations.
LO
Lorean
2 years ago
I believe option C is also important, as proper escalation of alerts is key to evaluating design effectiveness.
VA
Vallie
2 years ago
I agree with Avery, because checking consistency with regulations is crucial for design effectiveness.
FE
Felicitas
2 years ago
Hmm, I'm not sure. Keeping customer records in line with policies seems pretty important too. Can't ignore that compliance aspect.
DE
Derick
2 years ago
Nah, I'd say confirming the escalation of transaction monitoring alerts is key. Gotta make sure those red flags are being addressed.
CA
Carmelina
2 years ago
B) Carry out a sample check of suspicious activity reports and make sure they are in line with policies and procedures.
DO
Doug
2 years ago
C) Confirm that alerts in transaction monitoring have been properly escalated or waived.
EV
Evette
2 years ago
A) Check whether the policies and procedures are consistent with the authorities' regulations.
BO
Bo
2 years ago
I think checking the consistency of policies and procedures with regulations is the way to go. That's the foundation, right?
SE
Sean
2 years ago
D) Confirm that customer records are being kept in accordance with policies and procedures.
ST
Stanton
2 years ago
C) Confirm that alerts in transaction monitoring have been properly escalated or waived.
GR
Gretchen
2 years ago
A) Check whether the policies and procedures are consistent with the authorities' regulations.
AV
Avery
2 years ago
I think the auditor would choose option A.