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IIA Exam IIA-CIA-Part2 Topic 7 Question 62 Discussion

Actual exam question for IIA's IIA-CIA-Part2 exam
Question #: 62
Topic #: 7
[All IIA-CIA-Part2 Questions]

An internal auditor for a regional bank suspects that the head of commercial lending has been granting loans without the required collateral Which of the following sampling techniques will be most effective for investigating the auditor's suspicion?

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Suggested Answer: B

by Fabiola at Jul 30, 2023, 01:41 PM

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Mary
3 months ago
Who needs sampling when you've got a crystal ball? I bet the head of commercial lending is already packing their bags.
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Dorothy
2 months ago
C) Judgmental sampling
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Bea
2 months ago
B) Dollar-unit sampling
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Dong
2 months ago
A) Variables sampling
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Cheryl
3 months ago
A) Variables sampling? Really? I guess the auditor's feeling adventurous, or maybe they just really love statistics.
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Ngoc
2 months ago
C) Judgmental sampling could be useful if the auditor has specific criteria in mind.
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Owen
2 months ago
B) Dollar-unit sampling might be more appropriate for financial audits.
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Lenny
2 months ago
A) Variables sampling can provide a statistical basis for the investigation.
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Rosita
3 months ago
I'll have to go with D) Discovery sampling. The auditor's looking to uncover hidden issues, so this technique might help them stumble upon the goods, so to speak.
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Mitzie
3 months ago
I believe dollar-unit sampling could also be effective in this situation, as it focuses on high-value transactions.
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Norah
3 months ago
B) Dollar-unit sampling? That's a bold choice. I wonder if the auditor is planning to follow the money trail and uncover any suspicious loan amounts.
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Basilia
2 months ago
C) Judgmental sampling might be useful if the auditor has specific criteria in mind when selecting samples to investigate.
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Eileen
3 months ago
A) Variables sampling could also be effective in this situation, as it allows the auditor to test for errors in the loan process.
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Shelba
3 months ago
I agree with Nieves, judgmental sampling allows the auditor to focus on specific areas of concern.
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Lavera
3 months ago
Hmm, I'm guessing C) Judgmental sampling is the way to go here. The auditor is specifically looking for any potential foul play, so they'll need to use their professional judgment to target the areas of highest risk.
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Omega
2 months ago
Discovery sampling could be useful if the auditor wants to uncover any unexpected findings that may not be apparent through other methods.
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Alise
2 months ago
I think dollar-unit sampling might be too focused on monetary values, rather than the actual risk of granting loans without collateral.
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Devorah
2 months ago
But wouldn't variables sampling also be effective in this situation? It could help quantify the extent of the issue.
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Mertie
3 months ago
I agree, using judgmental sampling allows the auditor to focus on specific areas of concern.
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Nieves
3 months ago
I think the most effective sampling technique would be judgmental sampling.
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