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CIMAPRA17-BA3-1 Exam - Topic 1 Question 60 Discussion

Refer to the exhibit.Both internal and external audits can be performed on the financial statements of a company. The results of the audits have different purposes and different reporting lines.Which of the following combinations is correct?
C) C
A) A
B) B
D) D

CIMAPRA17-BA3-1 Exam - Topic 1 Question 60 Discussion

Actual exam question for CIMA's CIMAPRA17-BA3-1 exam
Question #: 60
Topic #: 1
[All CIMAPRA17-BA3-1 Questions]

Refer to the exhibit.

Both internal and external audits can be performed on the financial statements of a company. The results of the audits have different purposes and different reporting lines.

Which of the following combinations is correct?

Show Suggested Answer Hide Answer
Suggested Answer: C

by Lenna at Oct 28, 2022, 12:17 AM

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Sophia
8 months ago
Just a reminder, external audits are usually required by law.
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Evelynn
9 months ago
I think option B is the right choice here.
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Fidelia
9 months ago
Wait, are we sure about the reporting lines? Seems a bit confusing.
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Carmela
9 months ago
Totally agree, the purposes are definitely different!
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Bok
9 months ago
Internal audits focus on compliance, while external audits are for stakeholders.
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Carmen
9 months ago
I think internal audits report to management while external audits go to shareholders, but I need to double-check that before answering.
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Lyla
9 months ago
I feel like I should know this, but I keep mixing up the roles of internal and external auditors. I hope I can remember the right combination!
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Dorothea
9 months ago
This question seems similar to one we practiced about audit purposes. I think external audits are more about compliance, but I can't recall the exact reporting structure.
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Ludivina
10 months ago
I remember we discussed the differences between internal and external audits, but I'm not sure which reporting lines apply to each.
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Rebbecca
10 months ago
Hmm, this seems straightforward. I just need to figure out the correct URL to use for the external redirection.
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Leota
10 months ago
Okay, I've got this. The service desk should work closely with support and development teams, not remain isolated. The other options don't sound right. I'll select A.
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