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Question 2 - IIA-CIA-Part2 discussion

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According to IIA guidance, which of the following would not be a consideration for the internal audit activity (IAA) when determining the need to follow-up on recommendations?

A.
Degree of effort and cost needed to correct the reported condition.
Answers
A.
Degree of effort and cost needed to correct the reported condition.
B.
Complexity of the corrective action.
Answers
B.
Complexity of the corrective action.
C.
Impact that may result should the corrective action fail.
Answers
C.
Impact that may result should the corrective action fail.
D.
Amount of resources required to conduct the follow-up activities.
Answers
D.
Amount of resources required to conduct the follow-up activities.
Suggested answer: D

Explanation:

According to the IIA guidance, when determining the need to follow-up on recommendations, the internal audit activity should consider factors such as the degree of effort and cost needed to correct the reported condition, the complexity of the corrective action, and the impact that may result should the corrective action fail. These factors are critical in assessing the importance and urgency of follow-up. However, the amount of resources required to conduct the follow-up activities should not be a primary consideration, as the focus should be on the significance of the issues and the potential risks associated with them.

Reference: IIA Standard 2500 -- Monitoring Progress, IIA Practice Advisory 2500.A1-1

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asked 18/09/2024
Yosra Chabchoub
38 questions
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