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Question 5 - IIA-CIA-Part2 discussion

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Which of the following is a justifiable reason for omitting advance client notice when planning an audit engagement?

A.
Advance notice may result in management making corrections to reduce the number of potential deficiencies.
Answers
A.
Advance notice may result in management making corrections to reduce the number of potential deficiencies.
B.
Previous management action plans addressing prior internal audit recommendations remain incomplete.
Answers
B.
Previous management action plans addressing prior internal audit recommendations remain incomplete.
C.
The engagement includes audit assurance procedures such as sensitive or restricted asset verifications.
Answers
C.
The engagement includes audit assurance procedures such as sensitive or restricted asset verifications.
D.
The audit engagement has already been communicated and approved through the annual audit plan.
Answers
D.
The audit engagement has already been communicated and approved through the annual audit plan.
Suggested answer: C

Explanation:

Omitting advance client notice when planning an audit engagement is justifiable if the engagement includes audit assurance procedures that involve sensitive or restricted assets. Providing advance notice in such cases could compromise the integrity of the audit, as it may give management an opportunity to conceal or alter the status of these assets. The goal is to ensure that the auditors can observe the actual condition and handling of sensitive assets without any prior alteration.

Reference: IIA Standard 2201 -- Planning Considerations, IIA Practice Advisory 2201-1

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asked 18/09/2024
Nick Daniel
37 questions
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