IIA Exam IIA-CFSA Topic 10 Question 31 Discussion

Actual exam question for IIA's IIA-CFSA exam

Question #: 31
Topic #: 10

Which of the following is not an audit objective of a commodity department?

AAll customer accounts are opened and maintained in accordance with the rules and regulations commodity futures trading commission (CFTC) and the various commodity Exchanges

BAdequate control exist to ensure the accuracy and propriety of information contained in regulatory reports, such as the commodity futures trading commission form 1-FR, and the focus report

CVerify the accuracy and reporting (inventory reports, fail reports, again reports and profit and loss reports.)

DNone of these

Show Suggested Answer

Suggested Answer: C

by Cristy at Mar 22, 2023, 06:56 AM

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Royce

15 days ago

I'm not sure, but I think C) Verify the accuracy and reporting could also be a valid audit objective.

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Zona

17 days ago

I agree with Lawanda, because all the other options seem to be audit objectives of a commodity department.

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Lawanda

25 days ago

I think the answer is D) None of these.

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