CIMA Exam CIMAPRA17-BA4-1 Topic 3 Question 98 Discussion

Actual exam question for CIMA's CIMAPRA17-BA4-1 exam

Question #: 98
Topic #: 3

Which ONE of the following provides an example of circumstances that may create self-review threats for a professional accountant in public practice?

AThe discovery of a significant error during a re-evaluation of the work of the professional accountant in public practice

BReporting on the operation of financial systems after being involved in their design or implementation

CA member of the assurance team being, or having recently been, a director or officer of that client

DAll of the above

Show Suggested Answer

Suggested Answer: C

by Gianna at Sep 18, 2024, 08:25 AM

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Kris

1 months ago

This is a real head-scratcher. I'm gonna have to phone a friend on this one. Or maybe just flip a coin. 50/50 chance of getting it right, right?

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Nikita

3 days ago

B) Reporting on the operation of financial systems after being involved in their design or implementation

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Janey

16 days ago

A) The discovery of a significant error during a re-evaluation of the work of the professional accountant in public practice

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Rodolfo

1 months ago

I'm gonna have to go with the option that involves the most work - D. Why make it easy on ourselves when we can just check all the boxes, right?

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Gail

2 months ago

D all the way, baby! You can't be auditing your own work - that's like asking the fox to guard the henhouse. Where's the independence and objectivity in that?

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Glenn

24 hours ago

C) A member of the assurance team being, or having recently been, a director or officer of that client

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Amira

3 days ago

B) Reporting on the operation of financial systems after being involved in their design or implementation

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Leontine

25 days ago

A) The discovery of a significant error during a re-evaluation of the work of the professional accountant in public practice

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Jaime

2 months ago

Hmm, I'm not so sure. I mean, what if the error was super minor and didn't really impact the overall results? Maybe that wouldn't be a big deal. But B and C definitely seem more clear-cut.

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Chantay

20 days ago

C) A member of the assurance team being, or having recently been, a director or officer of that client

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Cory

1 months ago

B) Reporting on the operation of financial systems after being involved in their design or implementation

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Rosio

1 months ago

A) The discovery of a significant error during a re-evaluation of the work of the professional accountant in public practice

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Kandis

2 months ago

I'm gonna have to go with D on this one. All of those scenarios create the potential for self-review threats. Gotta be objective, you know?

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Jerry

2 months ago

But reporting on financial systems after being involved in their design can create self-review threats.

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Carin

2 months ago

I disagree, I believe the answer is D.

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Leslee

2 months ago

Option B seems like the obvious choice here. If you're involved in designing or implementing a system, how can you objectively assess its operation? Seems like a clear self-review threat to me.

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