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CIMA Exam CIMAPRA17-BA4-1 Topic 7 Question 86 Discussion

Actual exam question for CIMA's CIMAPRA17-BA4-1 exam
Question #: 86
Topic #: 7
[All CIMAPRA17-BA4-1 Questions]

Internal audit is considered best practice but is not required by law Which of the following does NOT describe a benefit of internal audit to the board of directors?

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Suggested Answer: A

by Lavonna at Apr 29, 2024, 01:33 AM

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Milly
2 months ago
Whoa, hold on! Isn't the internal audit function supposed to report back to the audit committee if controls are not as effective as they should be? That's a no-brainer. I'm going with Option C.
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Malcom
18 days ago
User1: True, but Option C is more directly related to the effectiveness of controls.
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Suzi
28 days ago
User3: I think Option D is also important, it helps the audit committee monitor risks.
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Colene
1 months ago
User2: Yeah, the internal audit function should definitely report back if controls are not effective.
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Mitsue
1 months ago
User1: I agree, Option C seems like the obvious choice.
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Leslie
2 months ago
Haha, this is a tough one! Maybe the internal audit function can help the audit committee to discharge their responsibilities for the ongoing monitoring of the risk in the company. That's a pretty good one, right? I'll go with Option D.
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Lenna
30 days ago
Yeah, I think so too. Having the internal audit function help with ongoing risk monitoring can really benefit the board of directors.
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Katy
1 months ago
I agree, Option D seems like a good choice. It's important for the audit committee to monitor the risk in the company.
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Teri
2 months ago
I'm not so sure about that. The internal audit function can provide independent assurance of the financial policies, which is a pretty important benefit for the board. I'd go with Option B.
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Kimbery
2 months ago
Why do you think that?
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Jesusita
2 months ago
Option A seems like the best choice to me. The internal audit function can help the audit committee have confidence in the fraud prevention systems, which is crucial for the board's oversight responsibilities.
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Willard
2 months ago
I disagree, I believe the answer is C
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Kimbery
2 months ago
I think the answer is B
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