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CIMA Exam CIMAPRA19-P03-1 Topic 1 Question 20 Discussion

Actual exam question for CIMA's CIMAPRA19-P03-1 exam
Question #: 20
Topic #: 1
[All CIMAPRA19-P03-1 Questions]

With regard to the internal audit department,whichTWO of the following statements arecorrect?

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Suggested Answer: A, B, D

by Garry at Dec 09, 2022, 11:41 PM

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Cordelia
1 months ago
I heard the internal audit department once caught the CEO trying to sneak a ping-pong table into the office. Apparently, they have a strict 'no fun allowed' policy.
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Cristy
14 days ago
C) The internal audit department should make recommendations on actions to be taken following any engagement within a department.
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Janella
15 days ago
A) The internal audit department should report directly to the board of directors, especially if it suspects a director has circumvented any internal controls.
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Cora
2 months ago
Well, at least they didn't include an option about the internal auditors doing a dance routine to ensure compliance. That would be a bit too much, even for this exam.
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Cassi
18 days ago
C) The internal audit department should make recommendations on actions to be taken following any engagement within a department.
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Glennis
26 days ago
B) The internal audit department should report directly to the board of directors, especially if it suspects a director has circumvented any internal controls.
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Karima
1 months ago
A) The internal audit department should co-opt a manager from the department it is auditing onto the team in order to ensure it can follow the processes applied in that department.
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Amina
2 months ago
Hmm, co-opting a manager from the department being audited? That sounds like a conflict of interest to me. I'll go with C and D for sure.
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Dorcas
2 days ago
It's important for the audit department to provide valuable insights for improvement. E) The internal audit department should follow a planned work schedule which is reviewed at least annually.
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Eric
7 days ago
Definitely, having an unbiased perspective is crucial. D) The internal audit department should make recommendations on how to improve the control systems within a department following any engagement within that department.
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Tamesha
20 days ago
I agree, co-opting a manager seems risky. C) The internal audit department should make recommendations on actions to be taken following any engagement within a department.
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Laquanda
21 days ago
Following a planned work schedule is crucial for the internal audit department's effectiveness.
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Shalon
1 months ago
Reporting directly to the board is important too, especially if there are suspicions of control circumvention.
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Noe
1 months ago
Definitely, I think making recommendations on actions and improvements is more appropriate.
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Alyssa
2 months ago
I agree, co-opting a manager seems like a conflict of interest.
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Nana
2 months ago
I'm not sure about option B. Reporting directly to the board might be a bit extreme, unless there's a really serious issue with a director. I'd go with C and E myself.
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Gayla
2 months ago
I think options C and D are the correct ones. The internal audit department should provide recommendations to improve the control systems and actions to be taken after any engagement.
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Alline
2 months ago
I'm not sure about option A though. Co-opting a manager from the department being audited could create conflicts of interest.
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Staci
3 months ago
I agree with Kaycee. It's important for the internal audit department to provide recommendations for improvement after engaging with a department.
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Kaycee
3 months ago
I think options C and D are correct. The internal audit department should definitely make recommendations on actions to be taken and how to improve control systems.
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