IIA Exam IIA-CIA-Part1 Topic 1 Question 34 Discussion

Actual exam question for IIA's IIA-CIA-Part1 exam

Question #: 34
Topic #: 1

Which of the following actions would an internal auditor perform primarily during a consulting engagement of a debt collections process?

AReviewing journal entries for accuracy and completeness.

BComparing the policies and procedures to regulatory collections guidance.

CAdvising management on streamlining the recording of accounts receivable.

DPerforming a walk-through of the debt collections process to determine whether proper segregation of duties exists

Show Suggested Answer

Suggested Answer: D

by Sylvie at Jul 04, 2023, 02:56 AM

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Lonny

8 days ago

B is the way to go. Comparing the policies and procedures to regulatory collections guidance is crucial to ensure the process is compliant.

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Thomasena

15 days ago

I believe reviewing journal entries for accuracy and completeness is also crucial in a debt collections consulting engagement.

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D seems like the obvious choice here. Performing a walk-through of the debt collections process to determine whether proper segregation of duties exists is exactly what an internal auditor would do during a consulting engagement.

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Fairy

19 days ago

I agree with Lisandra. It's important for the auditor to help management improve their processes.

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Lisandra

20 days ago

I think the internal auditor would primarily advise management on streamlining the recording of accounts receivable.

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Francine

23 days ago

I believe reviewing journal entries for accuracy and completeness is also crucial in a consulting engagement.

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Jesus

25 days ago

I agree with Reita. It's important to improve efficiency in the debt collections process.

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Reita

26 days ago

I think the internal auditor would primarily advise management on streamlining the recording of accounts receivable.

upvoted 0 times

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IIA Exam IIA-CIA-Part1 Topic 1 Question 34 Discussion

Contribute your Thoughts:

Lonny

Thomasena

Ricki

Fairy

Lisandra

Francine

Jesus

Reita