Deal of The Day! Hurry Up, Grab the Special Discount - Save 25% - Ends In 00:00:00 Coupon code: SAVE25
Welcome to Pass4Success

- Free Preparation Discussions
Mail Us support@pass4success.com
Location US
Mob_nav_barsMENU

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

Which ONE of the following provides an example of circumstances that may create self-review threats for a professional accountant in public practice?
C) A member of the assurance team being, or having recently been, a director or officer of that client
A) The discovery of a significant error during a re-evaluation of the work of the professional accountant in public practice
B) Reporting on the operation of financial systems after being involved in their design or implementation
D) All of the above

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

Actual exam question for CIMA's CIMAPRA17-BA4-1 exam
Question #: 98
Topic #: 3
[All CIMAPRA17-BA4-1 Questions]

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

Show Suggested Answer Hide Answer
Suggested Answer: C

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

Limited Time Offer

25%

Off

Get Premium CIMAPRA17-BA4-1 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

0/2000 characters
Submit Cancel
Laurena
9 months ago
Not sure if A is a big deal, errors happen all the time.
upvoted 0 times
...
Kirk
10 months ago
Wait, can you really be involved in both design and reporting?
upvoted 0 times
...
Kris
10 months ago
All of the above seems right to me!
upvoted 0 times
...
Portia
10 months ago
I think C is more concerning, honestly.
upvoted 0 times
...
Kristeen
10 months ago
B is definitely a self-review threat.
upvoted 0 times
...
Daniel
10 months ago
I’m leaning towards D, thinking all of them could create self-review threats. But I’m not sure if they all fit the definition equally well.
upvoted 0 times
...
Joseph
11 months ago
I recall a practice question where they mentioned a director being part of the assurance team. That might relate to option C, but I’m not confident if that’s the best example here.
upvoted 0 times
...
Dawne
11 months ago
I’m not entirely sure, but I feel like option B sounds right because it directly relates to self-review. It’s like you can’t be the judge and the player at the same time.
upvoted 0 times
...
Cammy
11 months ago
I think self-review threats are really tricky. I remember studying that if you’re involved in designing a system, you shouldn’t be the one auditing it.
upvoted 0 times
...
Elmira
11 months ago
I think the answer is B. Reporting on systems you were involved in designing or implementing could definitely create a self-review threat, as you'd be evaluating your own prior work. The other options don't seem as directly relevant to that specific threat.
upvoted 0 times
...
Quentin
11 months ago
I'm a bit confused by this question. The wording is a bit tricky, and I'm not 100% confident in any of the answer choices. I'll have to re-read the question and options carefully before making a decision.
upvoted 0 times
...
Carmen
11 months ago
Ah, I see what they're getting at. The key is the concept of "self-review threats" for a professional accountant. I believe B is the best answer, as it describes a situation where the accountant could be reviewing their own prior work.
upvoted 0 times
...
Lenora
11 months ago
This question seems straightforward. I think the answer is B - reporting on the operation of financial systems after being involved in their design or implementation.
upvoted 0 times
...
Pok
11 months ago
Hmm, I'm not entirely sure about this one. I'll need to think it through carefully. The options all seem plausible, so I'll have to weigh the pros and cons of each.
upvoted 0 times
...
Kris
1 year 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?
upvoted 0 times
Annamae
1 year ago
D) All of the above
upvoted 0 times
...
Rolande
1 year ago
C) A member of the assurance team being, or having recently been, a director or officer of that client
upvoted 0 times
...
Nikita
1 year ago
B) Reporting on the operation of financial systems after being involved in their design or implementation
upvoted 0 times
...
Janey
1 year ago
A) The discovery of a significant error during a re-evaluation of the work of the professional accountant in public practice
upvoted 0 times
...
...
Rodolfo
1 year 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?
upvoted 0 times
...
Gail
1 year 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?
upvoted 0 times
Glenn
1 year ago
C) A member of the assurance team being, or having recently been, a director or officer of that client
upvoted 0 times
...
Amira
1 year ago
B) Reporting on the operation of financial systems after being involved in their design or implementation
upvoted 0 times
...
Leontine
1 year ago
A) The discovery of a significant error during a re-evaluation of the work of the professional accountant in public practice
upvoted 0 times
...
...
Jaime
1 year 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.
upvoted 0 times
Chantay
1 year ago
C) A member of the assurance team being, or having recently been, a director or officer of that client
upvoted 0 times
...
Cory
1 year ago
B) Reporting on the operation of financial systems after being involved in their design or implementation
upvoted 0 times
...
Rosio
1 year ago
A) The discovery of a significant error during a re-evaluation of the work of the professional accountant in public practice
upvoted 0 times
...
...
Kandis
1 year 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?
upvoted 0 times
...
Jerry
1 year ago
But reporting on financial systems after being involved in their design can create self-review threats.
upvoted 0 times
...
Carin
1 year ago
I disagree, I believe the answer is D.
upvoted 0 times
...
Leslee
1 year 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.
upvoted 0 times
Cruz
1 year ago
It's important for professional accountants to be aware of these threats and take appropriate actions to mitigate them.
upvoted 0 times
...
Luis
1 year ago
True, option D covers all possible circumstances that may create self-review threats.
upvoted 0 times
...
Richelle
1 year ago
I think option C could also create a self-review threat, having a member of the assurance team who is a director or officer of the client.
upvoted 0 times
...
Hayley
1 year ago
I agree, option B definitely creates a self-review threat.
upvoted 0 times
...
...
Jerry
1 year ago
I think the answer is B.
upvoted 0 times
...

Save Cancel