IIA Exam IIA-CFSA Topic 2 Question 30 Discussion

Actual exam question for IIA's IIA-CFSA exam

Question #: 30
Topic #: 2

When conducting an audit of securities investments, the following objectives and audit steps should be considered EXCEPT:

ADetermine whether policies, procedures, practices, and internal controls over security investments are adequate and being followed

BDetermine whether transactions are properly authorized and recorded. Verify that dividend or interest income is accurately calculated and recorded in the general ledger

CDetermine that the institution has an adequate process for reconciling subsidiary records to the general ledger on a regular basis

DDetermine whether the institution adequately control and records the sold securities in balance sheet

Show Suggested Answer

Suggested Answer: D

by Helene at Feb 28, 2023, 12:36 AM

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Nana

20 days ago

But D makes sense because it's important to control and record sold securities.

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Chu

22 days ago

I disagree, I believe the answer is C.

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Nana

26 days ago

I think the answer is D.

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