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IIA Exam IIA-CIA-Part2 Topic 4 Question 69 Discussion

Actual exam question for IIA's IIA-CIA-Part2 exam
Question #: 69
Topic #: 4
[All IIA-CIA-Part2 Questions]

How do internal auditors generally determine the priority of the areas within the engagement scope?

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Suggested Answer: C

by Golda at Dec 27, 2023, 05:04 AM

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Shaun
2 days ago
Option B is interesting, but I'm not sure it's the best approach. Focusing solely on monetary value could lead to overlooking important non-financial risks.
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Colton
2 days ago
I think internal auditors determine priority based on the likelihood of risks occurring.
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Son
2 days ago
While C could be useful, I think it's a bit too narrow-minded. Internal auditors need to consider the big picture, not just hunt for fraud.
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Millie
3 days ago
I agree with Eden. Prioritizing risks based on their potential impact is a widely accepted internal audit best practice.
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Lashanda
4 days ago
But what about the monetary value of processes? Shouldn't that also be considered?
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Eden
8 days ago
Option D seems to be the most logical choice. Assessing the likelihood and impact of risks is the key to determining audit priorities, not just looking at past audits or potential fraud indicators.
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Lisbeth
12 days ago
I agree with Tricia. It's important to focus on areas with higher risks.
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Tricia
15 days ago
I think internal auditors determine priority based on risks and impact.
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