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 Exam IIA-CFSA Topic 10 Question 31 Discussion

Actual exam question for IIA's IIA-CFSA exam
Question #: 31
Topic #: 10
[All IIA-CFSA Questions]

Which of the following is not an audit objective of a commodity department?

Show Suggested Answer Hide Answer
Suggested Answer: C

by Cristy at Mar 22, 2023, 06:56 AM

Limited Time Offer

25%

Off

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

Contribute your Thoughts:

Submit Cancel
Brandon
2 months ago
I bet the exam designer is sitting back, chuckling at the poor souls who fall for this question. It's a classic trap!
upvoted 0 times
...
Lilli
2 months ago
Hmm, this is a tricky one. I'm gonna have to think it through carefully before selecting my answer.
upvoted 0 times
Cordelia
10 days ago
User 4: I think we can rule out option D, at least.
upvoted 0 times
...
Dana
12 days ago
User 3: I believe it might be option B, but I'm not entirely sure.
upvoted 0 times
...
Pansy
22 days ago
User 2: I'm leaning towards option A, actually.
upvoted 0 times
...
Theresia
1 months ago
User 1: I think option C is the correct answer.
upvoted 0 times
...
...
Willard
2 months ago
This is a trick question. The exam designer is trying to see if we're paying attention. Clearly, all of these are valid audit objectives.
upvoted 0 times
Amber
20 days ago
C) Verify the accuracy and reporting (inventory reports, fail reports, again reports and profit and loss reports.)
upvoted 0 times
...
Nobuko
21 days ago
B) Adequate control exist to ensure the accuracy and propriety of information contained in regulatory reports, such as the commodity futures trading commission form 1-FR, and the focus report
upvoted 0 times
...
Charolette
23 days ago
A) All customer accounts are opened and maintained in accordance with the rules and regulations commodity futures trading commission (CFTC) and the various commodity Exchanges
upvoted 0 times
...
...
Amina
3 months ago
I agree with Weldon. All of these objectives are essential to ensure proper controls and compliance in a commodity department.
upvoted 0 times
Jaclyn
1 months ago
User 3: Verifying accuracy in inventory and profit reports is crucial for a commodity department.
upvoted 0 times
...
Jenelle
1 months ago
User 2: I agree, it's important to have accurate and proper information in regulatory reports.
upvoted 0 times
...
Desire
2 months ago
User 1: I think all customer accounts should be opened and maintained according to regulations.
upvoted 0 times
...
...
Weldon
3 months ago
Option D is clearly the correct answer. None of the listed objectives are irrelevant for a commodity department audit.
upvoted 0 times
...
Royce
3 months ago
I'm not sure, but I think C) Verify the accuracy and reporting could also be a valid audit objective.
upvoted 0 times
...
Zona
3 months ago
I agree with Lawanda, because all the other options seem to be audit objectives of a commodity department.
upvoted 0 times
...
Lawanda
4 months ago
I think the answer is D) None of these.
upvoted 0 times
...

Save Cancel