IIA Exam IIA-CIA-Part1 Topic 2 Question 47 Discussion

Actual exam question for IIA's IIA-CIA-Part1 exam

Question #: 47
Topic #: 2

[All IIA-CIA-Part1 Questions]

Which of the following statements is true regarding corporate social responsibility (CSR)?

AMany of the areas explored by CSR are normally included in an audit universe or annual audit plan

BDespite significant corporate resources spent on CSR reporting investors generally do not rely on CSR information

CUnlike many other areas of reporting responsibilities impacting stakeholders, CSR is largely voluntary

DTypically operating management does not have a major role to play based on the public nature of reporting

Show Suggested Answer

Suggested Answer: C

by Izetta at Apr 11, 2024, 01:42 AM

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Justine

2 months ago

Ah, the age-old debate: Does CSR actually matter, or is it just corporate fluff? I'll have to go with C on this one.

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Kenneth

1 months ago

True, but some companies really prioritize CSR and it can make a big impact on their reputation.

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Cletus

1 months ago

Yeah, I agree. It's not mandatory like some other reporting responsibilities.

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William

2 months ago

I think CSR is largely voluntary, so it's up to the company to decide how important it is.

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Terrilyn

3 months ago

A is an interesting perspective, but I'm not sure if all CSR areas are typically included in the audit universe.

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Janey

3 months ago

D is just ridiculous. Operating management definitely has a major role in CSR, even if the reporting is public.

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Cecil

1 months ago

C) Unlike many other areas of reporting responsibilities impacting stakeholders, CSR is largely voluntary.

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Luis

1 months ago

B) Despite significant corporate resources spent on CSR reporting, investors generally do not rely on CSR information.

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Pearly

1 months ago

A) Many of the areas explored by CSR are normally included in an audit universe or annual audit plan.

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Catina

3 months ago

B seems misleading. Investors may not rely on CSR as much as financial reporting, but the resources spent on it suggest it's still important.

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Tamie

2 months ago

D) Typically, operating management does not have a major role to play based on the public nature of reporting.

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Felix

2 months ago

B seems misleading. Investors may not rely on CSR as much as financial reporting, but the resources spent on it suggest it's still important.

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Tracie

2 months ago

C) Unlike many other areas of reporting responsibilities impacting stakeholders, CSR is largely voluntary.

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Myra

3 months ago

A) Many of the areas explored by CSR are normally included in an audit universe or annual audit plan.

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Kati

3 months ago

I think C is the correct answer. CSR is largely voluntary, unlike other areas of reporting that have more regulatory requirements.

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Valentin

2 months ago

I think A is also true. Many areas explored by CSR are normally included in an audit universe.

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Penney

2 months ago

I agree, C is the correct answer. CSR is indeed largely voluntary.

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Phillip

3 months ago

But isn't it important for companies to engage in CSR to build trust with their stakeholders?

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Zona

3 months ago

I agree with Alica. CSR is not mandatory, so companies can choose whether or not to participate.

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Alica

4 months ago

I think the answer is C) Unlike many other areas of reporting responsibilities impacting stakeholders, CSR is largely voluntary.

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