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Question 331 - IIA-CIA-Part2 discussion

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An internal auditor develops an engagement observation related to an organization's accumulation of large travel advances. The auditor observes that the organization's procedures do not require justification for travel advances greater than a specific amount Which of the following best describes the organization's procedures?

A.
A criterion of the organization's accumulation of large travel advances
Answers
A.
A criterion of the organization's accumulation of large travel advances
B.
A condition of the organization's accumulation of large travel advances
Answers
B.
A condition of the organization's accumulation of large travel advances
C.
A consequence of the organization's accumulation of large travel advances
Answers
C.
A consequence of the organization's accumulation of large travel advances
D.
A cause of the organization's accumulation of large travel advances
Answers
D.
A cause of the organization's accumulation of large travel advances
Suggested answer: D

Explanation:

The best description of the organization's procedures in this context is that they represent a cause of the organization's accumulation of large travel advances. The lack of a requirement for justification for travel advances greater than a specific amount is a procedural gap that directly contributes to the accumulation of large travel advances. This gap in the procedure is the root cause that leads to the observed condition of large travel advances accumulating without sufficient oversight or justification.

Reference: IIA's International Standards for the Professional Practice of Internal Auditing, Standard 2310 -- Identifying Information, and related practice advisories on root cause analysis in audit observations.

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asked 18/09/2024
San Min Oo
40 questions
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