CIMA Exam CIMAPRA19-P03-1 Topic 1 Question 20 Discussion

Actual exam question for CIMA's CIMAPRA19-P03-1 exam

Question #: 20
Topic #: 1

With regard to the internal audit department,whichTWO of the following statements arecorrect?

AThe internal audit department should co-opt a manager from the department it is auditing onto the teamin order to ensure it can follow the processes applied in that department.

BThe internal audit department should report directly to the board of directors, especially if it suspects a director has circumvented any internal controls.

CThe internal audit department should make recommendations on actions to be taken following any engagement within a department.

DThe internal audit department should make recommendations on how to improve the control systems withina department following any engagement within that department.

EThe internal audit department should follow a planned work schedule which is reviewed at least annually.

Show Suggested Answer

Suggested Answer: A, B, D

by Garry at Dec 09, 2022, 11:41 PM

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Cordelia

1 months ago

I heard the internal audit department once caught the CEO trying to sneak a ping-pong table into the office. Apparently, they have a strict 'no fun allowed' policy.

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Cristy

14 days ago

C) The internal audit department should make recommendations on actions to be taken following any engagement within a department.

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Janella

15 days ago

A) The internal audit department should report directly to the board of directors, especially if it suspects a director has circumvented any internal controls.

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Cora

2 months ago

Well, at least they didn't include an option about the internal auditors doing a dance routine to ensure compliance. That would be a bit too much, even for this exam.

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Cassi

18 days ago

C) The internal audit department should make recommendations on actions to be taken following any engagement within a department.

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Glennis

26 days ago

B) The internal audit department should report directly to the board of directors, especially if it suspects a director has circumvented any internal controls.

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Karima

1 months ago

A) The internal audit department should co-opt a manager from the department it is auditing onto the team in order to ensure it can follow the processes applied in that department.

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Amina

2 months ago

Hmm, co-opting a manager from the department being audited? That sounds like a conflict of interest to me. I'll go with C and D for sure.

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Dorcas

2 days ago

It's important for the audit department to provide valuable insights for improvement. E) The internal audit department should follow a planned work schedule which is reviewed at least annually.

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Definitely, having an unbiased perspective is crucial. D) The internal audit department should make recommendations on how to improve the control systems within a department following any engagement within that department.

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Tamesha

20 days ago

I agree, co-opting a manager seems risky. C) The internal audit department should make recommendations on actions to be taken following any engagement within a department.

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Laquanda

21 days ago

Following a planned work schedule is crucial for the internal audit department's effectiveness.

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Shalon

1 months ago

Reporting directly to the board is important too, especially if there are suspicions of control circumvention.

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Noe

1 months ago

Definitely, I think making recommendations on actions and improvements is more appropriate.

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Alyssa

2 months ago

I agree, co-opting a manager seems like a conflict of interest.

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Nana

2 months ago

I'm not sure about option B. Reporting directly to the board might be a bit extreme, unless there's a really serious issue with a director. I'd go with C and E myself.

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Gayla

2 months ago

I think options C and D are the correct ones. The internal audit department should provide recommendations to improve the control systems and actions to be taken after any engagement.

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Alline

2 months ago

I'm not sure about option A though. Co-opting a manager from the department being audited could create conflicts of interest.

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Staci

3 months ago

I agree with Kaycee. It's important for the internal audit department to provide recommendations for improvement after engaging with a department.

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Kaycee

3 months ago

I think options C and D are correct. The internal audit department should definitely make recommendations on actions to be taken and how to improve control systems.

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CIMA Exam CIMAPRA19-P03-1 Topic 1 Question 20 Discussion

Contribute your Thoughts:

Cordelia

Cristy

Janella

Cora

Cassi

Glennis

Karima

Amina

Dorcas

Eric

Tamesha

Laquanda

Shalon

Noe

Alyssa

Nana

Gayla

Alline

Staci

Kaycee