IIA Exam IIA-CIA-Part2 Topic 7 Question 74 Discussion

Actual exam question for IIA's IIA-CIA-Part2 exam

Question #: 74
Topic #: 7

The internal audit activity has requested that new vendor information be summarized once per week in a single report, and that all invoices each week for these vendors be automatically flagged in the invoice processing system. Which of the following computerized audit techniques is the internal audit activity most likely applying?

AEnabling continuous auditing.

BEmploying generalized audit software.

CFacilitating electronic workpapers.

DUsing machine learning.

Show Suggested Answer

Suggested Answer: C

by Pamella at Apr 14, 2024, 03:32 AM

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Alton

3 months ago

Electronic workpapers? Come on, this is way more advanced than that. I'm going with continuous auditing for sure.

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Laurena

1 months ago

Machine learning could be a powerful tool for automating the flagging of invoices.

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Elvera

1 months ago

Generalized audit software could also be useful in this case.

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Gaston

2 months ago

Generalized audit software could also be useful in this scenario, but continuous auditing seems like the best fit.

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Edna

2 months ago

I agree, it allows for real-time monitoring and analysis of data.

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Carin

2 months ago

I agree, it allows for real-time monitoring and analysis of data.

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Edmond

2 months ago

Continuous auditing is definitely the way to go for this situation.

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Harris

2 months ago

Continuous auditing is definitely the way to go for this situation.

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Youlanda

3 months ago

Nah, this has to be about using machine learning. Automating the invoice flagging process? That's gotta be some fancy AI stuff, right?

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Sharen

3 months ago

I believe using machine learning could also be a possibility to achieve the same objectives efficiently.

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Lauryn

3 months ago

I agree with Aileen. Enabling continuous auditing would help in summarizing new vendor information and flagging invoices automatically.

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Yuriko

3 months ago

Hmm, I'd say this is more about employing generalized audit software. Summarizing vendor info and flagging invoices sounds like the kind of stuff you'd use a tool like IDEA for.

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Brynn

2 months ago

Yeah, it sounds like the most efficient way to handle the vendor information and invoices.

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Viola

2 months ago

I agree, using generalized audit software would definitely help streamline that process.

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Aileen

3 months ago

I think the internal audit activity is most likely applying continuous auditing.

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Alecia

3 months ago

Continuous auditing? That's the one, I'm pretty sure. Automatic flagging of invoices is a classic continuous auditing technique.

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Ming

2 months ago

Using machine learning could also be a possibility. It can help in automatically flagging invoices based on patterns.

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Cristy

2 months ago

Actually, I believe it's facilitating electronic workpapers. This technique can streamline the process of summarizing vendor information.

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Adolph

2 months ago

I think it's employing generalized audit software. It can help summarize vendor information and flag invoices.

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Maurine

3 months ago

Yes, you're right. Continuous auditing involves automatically monitoring transactions for anomalies.

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