IIA Exam IIA-CFSA Topic 2 Question 30 Discussion

Actual exam question for IIA's IIA-CFSA exam

Question #: 30
Topic #: 2

When conducting an audit of securities investments, the following objectives and audit steps should be considered EXCEPT:

ADetermine whether policies, procedures, practices, and internal controls over security investments are adequate and being followed

BDetermine whether transactions are properly authorized and recorded. Verify that dividend or interest income is accurately calculated and recorded in the general ledger

CDetermine that the institution has an adequate process for reconciling subsidiary records to the general ledger on a regular basis

DDetermine whether the institution adequately control and records the sold securities in balance sheet

Show Suggested Answer

Suggested Answer: D

by Helene at Feb 28, 2023, 12:36 AM

Limited Time Offer

25%

Off

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

Contribute your Thoughts:

Submit Cancel

Nana

11 days ago

But D makes sense because it's important to control and record sold securities.

upvoted 0 times

...

Chu

13 days ago

I disagree, I believe the answer is C.

upvoted 0 times

...

Nana

17 days ago

I think the answer is D.

upvoted 0 times

...