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Question 703 - IIA-CIA-Part1 discussion

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During an assurance engagement, an internal auditor reviews a tender inviting vendors to submit bids to supply financial services software to the organization. She suspects that the tender was tailored for the bidder who eventually won the contract. What should the auditor do next?

A.

Review payments made for the financial services software.

Answers
A.

Review payments made for the financial services software.

B.

Confront a procurement specialist with the suspicion.

Answers
B.

Confront a procurement specialist with the suspicion.

C.

Submit an anonymous tip to the whistleblower hotline.

Answers
C.

Submit an anonymous tip to the whistleblower hotline.

D.

Analyze technical terms and conditions of the tender.

Answers
D.

Analyze technical terms and conditions of the tender.

Suggested answer: D

Explanation:

When an internal auditor suspects that a tender was tailored for a specific bidder, the next appropriate action is to analyze the technical terms and conditions of the tender (Option D). This step involves a detailed examination of the tender documentation to identify any specific terms that may have been included to favor a particular bidder. Such an analysis can provide evidence of bias or manipulation. According to the IIA Standards, auditors must gather sufficient, reliable, and relevant evidence to support their findings (Standard 2310: Identifying Information).

Reference:

IIA Standards, Standard 2310: Identifying Information

IIA Practice Guide: Evaluating Third-party Risk Management

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asked 03/11/2024
Micele Mercer
38 questions
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