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-CIA-Part1 Topic 1 Question 34 Discussion

Actual exam question for IIA's IIA-CIA-Part1 exam
Question #: 34
Topic #: 1
[All IIA-CIA-Part1 Questions]

Which of the following actions would an internal auditor perform primarily during a consulting engagement of a debt collections process?

Show Suggested Answer Hide Answer
Suggested Answer: D

by Sylvie at Jul 04, 2023, 02:56 AM

Limited Time Offer

25%

Off

Get Premium IIA-CIA-Part1 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel
Bernardine
2 months ago
D, for sure. If I can't figure out the proper segregation of duties, how will I ever collect on those overdue library books?
upvoted 0 times
Anabel
22 days ago
It's important for internal auditors to assess the effectiveness of controls in place for debt collections.
upvoted 0 times
...
Haley
1 months ago
Definitely, without proper segregation of duties, there could be opportunities for fraud or errors.
upvoted 0 times
...
Kimberlie
2 months ago
I agree, D is crucial for ensuring proper controls in the debt collections process.
upvoted 0 times
...
...
Serita
3 months ago
I'm torn between B and D. Maybe I should just flip a coin and hope for the best. Auditing can be such a gamble sometimes!
upvoted 0 times
Merissa
1 months ago
User 3: I would go with D. Performing a walk-through can help identify any issues with segregation of duties.
upvoted 0 times
...
Alida
2 months ago
User 2: I agree with you. It's crucial to ensure compliance with regulations in debt collections.
upvoted 0 times
...
Nicolette
2 months ago
User 1: I think B is the best option. It's important to compare policies to regulatory guidance.
upvoted 0 times
...
...
Alisha
3 months ago
C is the one. Advising management on streamlining the recording of accounts receivable is the real consulting work an internal auditor would focus on.
upvoted 0 times
Jestine
2 months ago
It makes sense, helping management streamline their accounts receivable recording can add a lot of value.
upvoted 0 times
...
Bambi
2 months ago
Definitely, that's the main focus of a consulting engagement for an internal auditor.
upvoted 0 times
...
Roslyn
2 months ago
I agree, C is the correct answer. It's all about advising management on improving processes.
upvoted 0 times
...
...
Lonny
3 months ago
B is the way to go. Comparing the policies and procedures to regulatory collections guidance is crucial to ensure the process is compliant.
upvoted 0 times
Jonell
27 days ago
D) Performing a walk-through of the debt collections process to determine whether proper segregation of duties exists
upvoted 0 times
...
Carol
29 days ago
C) Advising management on streamlining the recording of accounts receivable.
upvoted 0 times
...
Walker
29 days ago
B) Comparing the policies and procedures to regulatory collections guidance.
upvoted 0 times
...
Felix
1 months ago
A) Reviewing journal entries for accuracy and completeness.
upvoted 0 times
...
Sarina
1 months ago
D) Performing a walk-through of the debt collections process to determine whether proper segregation of duties exists
upvoted 0 times
...
Krystal
2 months ago
That's a good point. Streamlining the recording process can definitely improve efficiency.
upvoted 0 times
...
France
2 months ago
C) Advising management on streamlining the recording of accounts receivable.
upvoted 0 times
...
Theodora
2 months ago
B) Comparing the policies and procedures to regulatory collections guidance.
upvoted 0 times
...
...
Thomasena
3 months ago
I believe reviewing journal entries for accuracy and completeness is also crucial in a debt collections consulting engagement.
upvoted 0 times
...
Ricki
3 months ago
D seems like the obvious choice here. Performing a walk-through of the debt collections process to determine whether proper segregation of duties exists is exactly what an internal auditor would do during a consulting engagement.
upvoted 0 times
Bernardine
2 months ago
True, but A shouldn't be overlooked either. Reviewing journal entries for accuracy and completeness is a fundamental task for an internal auditor.
upvoted 0 times
...
Laurel
2 months ago
I see your point, but B is also important. Comparing policies and procedures to regulatory collections guidance is crucial for compliance.
upvoted 0 times
...
Candida
2 months ago
I think C could also be a valid choice. Advising management on streamlining the recording of accounts receivable could be a key aspect of a consulting engagement.
upvoted 0 times
...
Dylan
3 months ago
I agree, D is the best option. It's important to ensure proper segregation of duties in the debt collections process.
upvoted 0 times
...
...
Fairy
3 months ago
I agree with Lisandra. It's important for the auditor to help management improve their processes.
upvoted 0 times
...
Lisandra
3 months ago
I think the internal auditor would primarily advise management on streamlining the recording of accounts receivable.
upvoted 0 times
...
Francine
4 months ago
I believe reviewing journal entries for accuracy and completeness is also crucial in a consulting engagement.
upvoted 0 times
...
Jesus
4 months ago
I agree with Reita. It's important to improve efficiency in the debt collections process.
upvoted 0 times
...
Reita
4 months ago
I think the internal auditor would primarily advise management on streamlining the recording of accounts receivable.
upvoted 0 times
...

Save Cancel