IIA Exam IIA-ACCA Topic 4 Question 54 Discussion

Actual exam question for IIA's IIA-ACCA exam

Question #: 54
Topic #: 4

According to IIA guidance, which of the following must internal auditors consider to conform with the requirements for due professional care during a consulting engagement?

1. The cost of the engagement, as it pertains to audit time and expenses in relation to the potential benefits.

2. The needs and expectation of clients, including the nature, timing, and communication of engagement results.

3. The application of technology-based audit and other data analysis techniques, where appropriate.

4. The relative complexity and extent of work needed to achieve the engagement's objectives.

A1, 2, and 3

B1, 2, and 4

C1, 3, and 4

D2, 3, and 4

Show Suggested Answer

Suggested Answer: A

by Cristy at Feb 08, 2023, 12:17 PM

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Marshall

2 months ago

I'm going with option B. Cost, client needs, and complexity - that's the holy trinity of due professional care. Though I'm a bit disappointed they didn't include 'looking fabulous while doing it' as a requirement.

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Gilberto

2 months ago

Options A and B both look solid, but I can't help but wonder if the exam writers are just trying to trick us with all these perfectly reasonable-sounding choices. Maybe I'll go with option C, just to keep them on their toes.

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Benton

24 days ago

That's true, it's always good to consider all the options before making a decision.

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Antonio

27 days ago

I agree, but option C also includes the application of technology-based audit techniques.

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Wilda

1 months ago

I think option A covers all the important aspects we need to consider.

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Jess

3 months ago

Well, if it's about due professional care, then the needs and expectations of the client have to be a key consideration. I'll go with option D. Though I'm kind of tempted to choose option C just to see if the auditors can handle a bit of data analysis.

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Arminda

2 months ago

I see your point, but I still believe the cost of the engagement is crucial. I'm sticking with option D.

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Nobuko

2 months ago

I agree, but I think we should also consider the application of technology-based audit techniques. Let's go with option C.

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Clemencia

2 months ago

I think the needs and expectations of the client are important, so I'll choose option D.

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Audry

3 months ago

Hmm, I'm not sure about the technology bit in option C. Shouldn't that be a given for any modern consulting engagement? I think I'll go with option B.

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Kati

3 months ago

Option B sounds good to me. Cost, client needs, and complexity are all important factors to consider when exercising due professional care. I'll go with that one.

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