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IIA Exam IIA-CFSA Topic 6 Question 64 Discussion

Actual exam question for IIA's IIA-CFSA exam
Question #: 64
Topic #: 6
[All IIA-CFSA Questions]

The main objective/s of an audit of swaps is/are:

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Suggested Answer: D

by Alaine at Sep 17, 2024, 04:48 PM

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Veta
8 months ago
Swaps, the financial equivalent of a hot potato. Option D is the only way to make sure you don't get burned. Hey, at least it's not as complicated as quantum physics, right?
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Jacinta
8 months ago
I believe the main objective is to ensure that the company's financial statements and regulatory reports properly reflect the results of swap activity in accordance with accounting principles. So, I would go with option D, all of these.
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Eun
8 months ago
I mean, who doesn't love a good swap audit? It's like a financial treasure hunt, but with way more paperwork. Option D is the clear winner here.
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Edward
7 months ago
User 3: It's important to ensure everything is properly recorded and reflected in financial statements.
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Ashton
7 months ago
User 2: Definitely, option D covers all the important objectives.
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Laurel
7 months ago
User 1: I agree, swap audits are like a treasure hunt.
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Shelba
8 months ago
I agree with Glendora. It's important to make sure that swap transactions are properly recorded in accordance with their terms.
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Glendora
9 months ago
I think the main objective of an audit of swaps is to determine the adequacy and effectiveness of controls relating to rate swap transactions.
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Gracie
9 months ago
I agree, D is the way to go. Wouldn't want any slip-ups on the financial reporting side, right? Auditors need to be thorough.
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An
9 months ago
Definitely D. All of these objectives are crucial for an effective audit of swaps. Gotta cover all the bases, you know?
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Arlyne
8 months ago
Yes, it's essential to ensure accuracy and compliance in swap transactions.
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Maryann
8 months ago
I think D is the best option, it covers all the necessary objectives for the audit.
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Delsie
8 months ago
Absolutely, we can't afford to overlook any important details.
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Susy
8 months ago
I agree, it's important to make sure all aspects of the audit are covered.
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