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

IIA-ACCA Exam - Topic 11 Question 68 Discussion

Actual exam question for IIA's IIA-ACCA exam
Question #: 68
Topic #: 11
[All IIA-ACCA Questions]

According to IIA guidance, which of the following statements is true regarding periodic internal assessments of the internal audit activity?

Show Suggested Answer Hide Answer
Suggested Answer: A

by Alesia at Dec 25, 2023, 11:50 AM

Limited Time Offer

25%

Off

Get Premium IIA-ACCA Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

0/2000 characters
Submit Cancel
Shawana
4 months ago
Benchmarking against best practices is definitely a must!
upvoted 0 times
...
Dortha
4 months ago
I thought follow-ups were mandatory, guess I was wrong!
upvoted 0 times
...
Joseph
4 months ago
Wait, are internal auditors really allowed to review their colleagues' work?
upvoted 0 times
...
Lemuel
4 months ago
Totally agree, it's crucial for keeping standards high!
upvoted 0 times
...
Lonna
5 months ago
I heard internal assessments should happen every five years.
upvoted 0 times
...
Veronique
5 months ago
I think follow-ups for improvements are recommended, but I'm not confident if they're mandatory or not in the context of internal assessments.
upvoted 0 times
...
Tijuana
5 months ago
I feel like I saw a practice question about peer reviews, and it mentioned that internal auditors can review each other's work as long as they weren't involved.
upvoted 0 times
...
Kenny
5 months ago
I remember something about assessments needing to be done every five years, but I can't recall if it has to be by a qualified assessor.
upvoted 0 times
...
Bulah
5 months ago
I think internal assessments are really important for benchmarking, but I'm not sure if that's the main purpose according to IIA guidance.
upvoted 0 times
...
Monte
5 months ago
I feel pretty confident about this one. The IIA standards require internal assessments to be done at least once every five years, so option B is the correct answer. The other choices don't seem to align with the guidance.
upvoted 0 times
...
Raul
5 months ago
Okay, let me think this through. The key is that the question is asking about "periodic" internal assessments, so that rules out option D. And I'm pretty sure option C about peer reviews isn't quite right either. I'm leaning towards option B, but I'll double-check the other choices just to be sure.
upvoted 0 times
...
Micah
5 months ago
I think I know this one - internal assessments are supposed to be done at least once every five years, right? That's what option B says.
upvoted 0 times
...
Fairy
6 months ago
Hmm, I'm not totally sure about this. The question is asking about IIA guidance, so I'll need to think carefully about the standards and best practices they recommend.
upvoted 0 times
...
Michel
6 months ago
I think the best approach here would be to create a Predefined Filter. That way, I can easily reuse the same set of conditions without having to rebuild them every time.
upvoted 0 times
...
Deeann
6 months ago
Okay, I've got this. The key information that must be included on a controlled substance prescription is the physician's DEA number. That's the right answer, I'm confident about that.
upvoted 0 times
...
Jesus
6 months ago
Hmm, I'm a bit unsure about this one. DCBX is a Cisco-specific protocol, so I'll need to make sure I understand the differences between the options provided.
upvoted 0 times
...
Dino
11 months ago
Ah, the age-old debate of mandatory versus recommended. I think option D is incorrect - follow-up to ensure improvements are implemented should be a mandatory part of internal assessments, not just a recommendation.
upvoted 0 times
Samira
9 months ago
User 3: I'm leaning towards option C, actually.
upvoted 0 times
...
Erasmo
10 months ago
User 2: I disagree, I believe option B is the right answer.
upvoted 0 times
...
Leslie
10 months ago
User 1: I think option A is the correct one.
upvoted 0 times
...
...
Whitley
11 months ago
But doesn't the guidance recommend internal assessments every five years?
upvoted 0 times
...
Dana
11 months ago
I disagree, I believe the answer is B.
upvoted 0 times
...
Cassandra
11 months ago
Option C seems a bit sketchy to me. How can an internal auditor review their colleague's workpapers if they weren't involved in the audit? That doesn't sound like an independent review to me.
upvoted 0 times
Leslie
10 months ago
B) Internal assessments must be performed at least once every five years by a qualified assessor.
upvoted 0 times
...
Leigha
10 months ago
A) Internal assessments are conducted to benchmark the internal audit activity's performance against industry best practices.
upvoted 0 times
...
Franchesca
10 months ago
B) Internal assessments must be performed at least once every five years by a qualified assessor.
upvoted 0 times
...
Lindsey
10 months ago
A) Internal assessments are conducted to benchmark the internal audit activity's performance against industry best practices.
upvoted 0 times
...
...
Mary
11 months ago
I'm not sure about that. Doesn't the IIA guidance say that internal assessments are conducted to improve the internal audit activity's performance, not just to benchmark it against industry best practices? I think option A is incorrect.
upvoted 0 times
...
Whitley
11 months ago
I think the answer is A.
upvoted 0 times
...
Rutha
11 months ago
But doesn't the guidance recommend internal assessments every five years?
upvoted 0 times
...
Jesusa
11 months ago
I think option B is the correct answer. The IIA guidance clearly states that internal assessments must be performed at least once every five years by a qualified assessor.
upvoted 0 times
Stephanie
10 months ago
D) Follow-up to ensure appropriate improvements are implemented is a recommended, but not mandatory, element of internal assessments.
upvoted 0 times
...
Leonie
10 months ago
C) An internal auditor may perform a peer review of a colleague's workpapers, as long as the auditor wasn't involved in the audit under review.
upvoted 0 times
...
Talia
11 months ago
B) Internal assessments must be performed at least once every five years by a qualified assessor.
upvoted 0 times
...
Virgina
11 months ago
A) Internal assessments are conducted to benchmark the internal audit activity's performance against industry best practices.
upvoted 0 times
...
...
Marguerita
11 months ago
I disagree, I believe the answer is B.
upvoted 0 times
...
Rutha
12 months ago
I think the answer is A.
upvoted 0 times
...

Save Cancel