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CIMAPRA19-P03-1 Exam - 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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Shannan
7 months ago
D is definitely a must, but A? Nah, that’s a bad idea.
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Martina
7 months ago
Wait, can the internal audit really report to the board directly?
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Charlette
7 months ago
Totally agree with E, planning is key!
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Reuben
7 months ago
A seems risky, not sure about co-opting a manager.
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Sunshine
8 months ago
I think B and D are spot on!
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Dino
8 months ago
I feel like option E is definitely correct since having a planned work schedule is crucial for internal audits to stay organized.
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Nichelle
8 months ago
I practiced a similar question where recommendations were emphasized, but I can't recall if they should only be about actions or also improvements.
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Serina
8 months ago
I think option B makes sense because if there's a serious issue, the board needs to know directly, right?
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Dottie
8 months ago
I remember discussing how internal audit should maintain independence, so I'm not sure about co-opting a manager from the department being audited.
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Evan
8 months ago
Hmm, I'm not sure if that's the best approach. The question mentions the project manager is part of a balanced matrix organization, so I might try presenting the situation to the manager of the sourcing department head first.
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Giovanna
8 months ago
The Model SS is the sum of the Type II SS for all the model terms, so I'm going to select option C.
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James
8 months ago
Wait, I'm confused. Is it really that simple? I feel like I'm missing something here. Let me re-examine the details.
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Lashawnda
8 months ago
I remember reading that lack of eye contact could indicate dishonesty, but it can also mean the person is nervous or uncomfortable.
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Cordelia
1 year 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
12 months 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
12 months 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
1 year 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
12 months 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
1 year 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 year 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
1 year 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
11 months 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
12 months 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
1 year 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
1 year ago
Following a planned work schedule is crucial for the internal audit department's effectiveness.
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Shalon
1 year ago
Reporting directly to the board is important too, especially if there are suspicions of control circumvention.
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Noe
1 year ago
Definitely, I think making recommendations on actions and improvements is more appropriate.
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Alyssa
1 year ago
I agree, co-opting a manager seems like a conflict of interest.
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Nana
1 year 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
1 year 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
1 year 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
1 year 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
1 year 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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