IIA Exam IIA-ACCA Topic 5 Question 67 Discussion

Actual exam question for IIA's IIA-ACCA exam

Question #: 67
Topic #: 5

Which of the following statements is false regarding the internal audit approach when a set of standards other than The IIA's Standards is applicable to a specific engagement?

AThe internal auditor may cite the use of other standards during audit communications.

BIf the other standards are government-issued, the internal auditor should apply them in conjunction with The IIA's Standards.

CIf there are inconsistencies between the other standards and The IIA's Standards, the internal auditor must use the more restrictive standards.

DIf there are inconsistencies between the other standards and The IIA's Standards, the internal auditor must use the less restrictive standards.

Show Suggested Answer

Suggested Answer: B

by Lindsey at Dec 11, 2023, 02:49 AM

Limited Time Offer

25%

Off

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

Contribute your Thoughts:

Submit Cancel

Ligia

2 months ago

Wait, does this mean I can just ignore the IIA's Standards altogether if there's another set of standards that's less restrictive? Sign me up!

upvoted 0 times

...

Gilma

2 months ago

Ooh, tricky one. I'm going to have to think this through carefully. Gotta make sure I don't end up using the wrong standards and getting dinged for it.

upvoted 0 times

Margret

1 months ago

C) If there are inconsistencies between the other standards and The IIA's Standards, the internal auditor must use the more restrictive standards.

upvoted 0 times

...

Justa

1 months ago

B) If the other standards are government-issued, the internal auditor should apply them in conjunction with The IIA's Standards.

upvoted 0 times

...

Colene

2 months ago

A) The internal auditor may cite the use of other standards during audit communications.

upvoted 0 times

...

Walton

2 months ago

Ha! I bet the people who wrote this question are just trying to trip us up. 'Less restrictive standards' - sounds like a recipe for disaster if you ask me.

upvoted 0 times

Serina

21 days ago

Yeah, it's definitely a tricky situation when dealing with different sets of standards for audits.

upvoted 0 times

...

Hillary

28 days ago

It's important to follow the more restrictive standards to ensure thorough and accurate auditing.

upvoted 0 times

...

Arlette

2 months ago

I agree, using less restrictive standards could lead to overlooking important details.

upvoted 0 times

...

Art

3 months ago

Hmm, I'm not sure about that. Shouldn't we be aiming to apply the IIA's Standards regardless of what other standards are in place? Doesn't sound right to just go with the less restrictive ones.

upvoted 0 times

Justine

1 months ago

So, it's important to be aware of any differences and make sure we follow the appropriate guidelines.

upvoted 0 times

...

Mitsue

1 months ago

That's true, but if there are inconsistencies, we have to use the more restrictive standards.

upvoted 0 times

...

Raina

2 months ago

I think we should always prioritize The IIA's Standards, even if other standards are applicable.

upvoted 0 times

...

Mireya

3 months ago

Option D seems like the obvious choice here. Why would we ever want to use the more restrictive standards when there's an inconsistency? That's just asking for trouble.

upvoted 0 times