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-Part3-3P Topic 2 Question 56 Discussion

Actual exam question for IIA's IIA-CIA-Part3-3P exam
Question #: 56
Topic #: 2
[All IIA-CIA-Part3-3P Questions]

A manager who is authorized to make purchases up to a certain dollar amount approves the set-up of a fictitious vendor and subsequently initiates purchase orders.

Which of the following controls would best address this risk?

Show Suggested Answer Hide Answer
Suggested Answer: B

by Rosalia at Sep 13, 2024, 02:37 AM

Limited Time Offer

25%

Off

Get Premium IIA-CIA-Part3-3P Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel
Sharee
6 months ago
Option A all the way! Separate teams are the way to go. Can't have the fox guarding the hen house, am I right?
upvoted 0 times
Alfred
5 months ago
Definitely agree with option A, separate teams are essential for preventing conflicts of interest.
upvoted 0 times
...
Precious
5 months ago
C) Perform a regular review of the vendor master file.
upvoted 0 times
...
Val
5 months ago
A) Establish separate vendor creation and approval teams.
upvoted 0 times
...
...
Blythe
6 months ago
Requiring a conflict-of-interest declaration, as in option D, is a smart move. It adds another layer of accountability.
upvoted 0 times
Janey
5 months ago
C: Performing regular reviews of the vendor master file could also help catch any issues.
upvoted 0 times
...
Mireya
6 months ago
B: I agree, it definitely adds accountability.
upvoted 0 times
...
Dominga
6 months ago
A: I think requiring a conflict-of-interest declaration is a good idea.
upvoted 0 times
...
...
Adelina
7 months ago
While the code of conduct in option B is a good step, it's not a strong enough control on its own. More proactive measures are needed.
upvoted 0 times
Maddie
6 months ago
D) Require submission of a conflict-of-interest declaration.
upvoted 0 times
...
Annette
6 months ago
That's a good point. Having separate teams would definitely help prevent this kind of fraud.
upvoted 0 times
...
Amira
6 months ago
C) Perform a regular review of the vendor master file.
upvoted 0 times
...
Becky
6 months ago
A) Establish separate vendor creation and approval teams.
upvoted 0 times
...
...
Dierdre
7 months ago
I think performing a regular review of the vendor master file would also help in detecting any unauthorized vendors.
upvoted 0 times
...
Minna
7 months ago
I agree with Arminda. Having separate teams would prevent one person from setting up a fictitious vendor and initiating purchase orders.
upvoted 0 times
...
Brande
7 months ago
A regular review of the vendor master file, as suggested in option C, is also a good idea. It's an important control to catch any suspicious activity.
upvoted 0 times
...
Marcelle
7 months ago
I think option A is the best solution. Separate teams for vendor creation and approval would help prevent conflicts of interest.
upvoted 0 times
Beata
6 months ago
D) Require submission of a conflict-of-interest declaration.
upvoted 0 times
...
Mari
6 months ago
That sounds like a good idea. Regular reviews would definitely help catch any unauthorized vendors.
upvoted 0 times
...
Casandra
6 months ago
C) Perform a regular review of the vendor master file.
upvoted 0 times
...
Lucy
6 months ago
A) Establish separate vendor creation and approval teams.
upvoted 0 times
...
Britt
6 months ago
That sounds like a good idea. Having separate teams would definitely help prevent any conflicts of interest.
upvoted 0 times
...
Glen
6 months ago
C) Perform a regular review of the vendor master file.
upvoted 0 times
...
Shanice
6 months ago
A) Establish separate vendor creation and approval teams.
upvoted 0 times
...
...
Arminda
7 months ago
I think the best control would be to establish separate vendor creation and approval teams.
upvoted 0 times
...

Save Cancel