IIA Exam IIA-ACCA Topic 5 Question 71 Discussion

Actual exam question for IIA's IIA-ACCA exam

Question #: 71
Topic #: 5

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.

A1 only. |

B1 and 4 only.

C1, 3, and 4 only.

D1,2, 3, and 4.

Show Suggested Answer

Suggested Answer: B

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

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Lisbeth

2 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.

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Nydia

1 months ago

User 3: That's right, they are actively involved in addressing fraud issues within the organization.

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Franklyn

1 months ago

User 2: So, they're not just spectators after all.

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Beckie

2 months ago

User 1: Internal auditors actually play a key role in identifying and mitigating fraud risk.

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Lauryn

3 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!

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Alica

2 months ago

It's important for auditors to be vigilant and proactive in addressing fraud risks to protect the organization.

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Nickie

2 months ago

Yes, auditors need to be involved in identification, mitigation, remediation, and reduction of fraud risks.

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Lajuana

2 months ago

I think D is the correct answer. Auditors play a crucial role in all aspects of fraud risk management.

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Janella

3 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.

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Arleen

3 months 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.

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Vincent

2 months ago

I see your point, but I still think B is the best choice based on the roles outlined in the question.

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Micaela

2 months ago

I'm leaning towards D, because internal auditors should be involved in all aspects of fraud risk management.

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Deonna

2 months ago

I agree, but I think C might also be a possibility since remediation could be part of their role as well.

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Yvonne

2 months ago

I think it's B, because identification and reduction of fraud risk are important roles for an internal auditor.

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Lauran

3 months 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.

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