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CIMAPRA17-BA3-1 Exam - Topic 1 Question 28 Discussion

Which one of the following internal controls is designed to prevent errors and fraud?
B) Requiring cheques over a certain amount to be signed by two signatories.
A) Confirmation of payables balances with suppliers.
C) Bank reconciliations.
D) External audit.

CIMAPRA17-BA3-1 Exam - Topic 1 Question 28 Discussion

Actual exam question for CIMA's CIMAPRA17-BA3-1 exam
Question #: 28
Topic #: 1
[All CIMAPRA17-BA3-1 Questions]

Which one of the following internal controls is designed to prevent errors and fraud?

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Suggested Answer: B

by Angella at May 08, 2022, 01:28 AM

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Phyliss
9 months ago
Not sure if confirmation of payables is enough on its own.
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Martina
9 months ago
I agree with B, two signatures really helps!
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Theodora
9 months ago
Wait, external audits can’t prevent fraud, right?
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Launa
9 months ago
I think C is just as important for catching errors.
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Dallas
10 months ago
Option B is definitely a strong control!
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Marshall
10 months ago
Hmm, I'm a bit unsure about this one. I know OSPF and BGP are common dynamic routing protocols, but I'm not as familiar with the others. I'll have to think this through carefully.
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Shenika
10 months ago
Wait, I'm a bit confused. Does locking the account mean the objects owned by SKD are no longer accessible? Or can other users still access them? I need to make sure I understand the implications of locking an account before answering this.
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