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Question 243 - IIA-CIA-Part2 discussion

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An internal auditor is preparing an internal control questionnaire for the procurement department as part of a preliminary survey. Which of the following would provide the best source of information for questions?

A.
A relevant procurement law or regulation.
Answers
A.
A relevant procurement law or regulation.
B.
A list of the company's vendors.
Answers
B.
A list of the company's vendors.
C.
A review of a sample of tenders during the audited period.
Answers
C.
A review of a sample of tenders during the audited period.
D.
A summary of the company's expenditures and their categories.
Answers
D.
A summary of the company's expenditures and their categories.
Suggested answer: A

Explanation:

When preparing an internal control questionnaire for the procurement department, referencing relevant procurement laws or regulations ensures that the questions are aligned with the legal and regulatory requirements governing procurement activities. This approach helps to ensure that the questionnaire addresses all necessary compliance issues and identifies potential gaps in the organization's procurement processes that could lead to non-compliance.

Reference:

The Institute of Internal Auditors (IIA) - Standards for the Professional Practice of Internal Auditing, Standard 2201 - Planning Considerations

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asked 18/09/2024
Swen Evers
39 questions
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