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 5 Question 71 Discussion

Actual exam question for IIA's IIA-ACCA exam
Question #: 71
Topic #: 5
[All IIA-ACCA Questions]

According to IIA guidance, which of the following roles would be appropriate for an internal auditor regarding fraud risk?

1. Identification.

2. Mitigation.

3. Remediation.

4. Reduction.

Show Suggested Answer Hide Answer
Suggested Answer: B

by Ashlyn at Mar 07, 2024, 09:08 PM

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
Armando
5 months ago
Not sure about remediation being an auditor's job.
upvoted 0 times
...
Lai
5 months ago
I think they should be involved in all aspects, so D makes sense.
upvoted 0 times
...
Joni
5 months ago
Wait, can auditors really mitigate fraud? Seems off.
upvoted 0 times
...
Inocencia
6 months ago
Totally agree, identification is key!
upvoted 0 times
...
Raylene
6 months ago
IIA says auditors should identify fraud risks.
upvoted 0 times
...
Lorrine
6 months ago
I believe the correct answer might be D, since it seems logical for auditors to be involved in all those roles regarding fraud risk.
upvoted 0 times
...
Lashandra
6 months ago
I feel like the auditor should be involved in all aspects, including mitigation and reduction, but I’m not confident about the specific guidance from IIA.
upvoted 0 times
...
Carin
6 months ago
I think we practiced a similar question where the auditor's role was limited to identification and remediation, but I can't recall the exact details.
upvoted 0 times
...
Selma
7 months ago
I remember we discussed the internal auditor's role in identifying fraud risks, but I'm not sure if mitigation is also included.
upvoted 0 times
...
Lucia
7 months ago
I've got a good handle on the IIA guidance, so I think I can narrow this down. I'll start by eliminating any options that don't seem to fit the appropriate roles for internal auditors.
upvoted 0 times
...
Kate
7 months ago
I'm a bit confused on the difference between mitigation, remediation, and reduction. I'll need to review those concepts to make sure I understand them properly.
upvoted 0 times
...
Monroe
7 months ago
Okay, let's see. The question is asking about the roles that would be appropriate for an internal auditor, so I'll need to think about which of the options align with the IIA guidance.
upvoted 0 times
...
Farrah
7 months ago
Hmm, this is a tricky one. I'll need to carefully review the IIA guidance to make sure I understand the appropriate roles for internal auditors regarding fraud risk.
upvoted 0 times
...
Ngoc
7 months ago
This is a straightforward question if you know the IIA guidance well. I'm confident I can select the right answer based on my understanding of the internal auditor's responsibilities regarding fraud risk.
upvoted 0 times
...
Janna
7 months ago
Okay, let's think this through step-by-step. We need to enable FC as the storage access protocol, so I'm guessing that involves either enabling it directly on the modules or adding some kind of FC upgrade license. I'll make sure to read the answer choices closely.
upvoted 0 times
...
Major
7 months ago
There was a practice case where we discussed how auditors should address disagreements in their communications, so maybe option C is the right choice here.
upvoted 0 times
...
Jose
7 months ago
The key here is to think about the organization's cash flow and financing situation. The credit terms are likely designed to optimize their working capital.
upvoted 0 times
...
Lisbeth
12 months ago
I thought the internal auditor's role was to just sit back, relax, and enjoy the show while the rest of the company deals with fraud. Clearly, I need to brush up on my IIA guidance.
upvoted 0 times
Nydia
10 months ago
User 3: That's right, they are actively involved in addressing fraud issues within the organization.
upvoted 0 times
...
Franklyn
10 months ago
User 2: So, they're not just spectators after all.
upvoted 0 times
...
Beckie
11 months ago
User 1: Internal auditors actually play a key role in identifying and mitigating fraud risk.
upvoted 0 times
...
...
Lauryn
12 months ago
D definitely seems like the right answer. Auditors need to be involved in all stages of fraud risk management, like a superhero fighting the forces of financial evil!
upvoted 0 times
Alica
11 months ago
It's important for auditors to be vigilant and proactive in addressing fraud risks to protect the organization.
upvoted 0 times
...
Nickie
11 months ago
Yes, auditors need to be involved in identification, mitigation, remediation, and reduction of fraud risks.
upvoted 0 times
...
Lajuana
11 months ago
I think D is the correct answer. Auditors play a crucial role in all aspects of fraud risk management.
upvoted 0 times
...
...
Janella
12 months ago
Hmm, I'd go with B. The internal auditor's job is to identify fraud risks and reduce them, not necessarily handle the full remediation process.
upvoted 0 times
...
Arleen
1 year ago
I'm not sure about this one. I guess C might be the answer, since the internal auditor's role is more about identifying and fixing issues, not necessarily reducing fraud risk.
upvoted 0 times
Vincent
11 months ago
I see your point, but I still think B is the best choice based on the roles outlined in the question.
upvoted 0 times
...
Micaela
11 months ago
I'm leaning towards D, because internal auditors should be involved in all aspects of fraud risk management.
upvoted 0 times
...
Deonna
11 months ago
I agree, but I think C might also be a possibility since remediation could be part of their role as well.
upvoted 0 times
...
Yvonne
12 months ago
I think it's B, because identification and reduction of fraud risk are important roles for an internal auditor.
upvoted 0 times
...
...
Lauran
1 year ago
I think the correct answer is D. The internal auditor's role should cover all aspects of fraud risk, from identification to mitigation, remediation, and reduction.
upvoted 0 times
...
Iraida
1 year ago
I'm not sure about that. I think the answer might be C) 1, 3, and 4 only. Remediation is also important in addressing fraud risk.
upvoted 0 times
...
Angella
1 year ago
I agree with Wilda. Internal auditors should be involved in both identification and reduction of fraud risk.
upvoted 0 times
...
Wilda
1 year ago
I think the answer is B) 1 and 4 only.
upvoted 0 times
...

Save Cancel