BlackFriday 2024! Hurry Up, Grab the Special Discount - Save 25% - Ends In 00:00:00 Coupon code: SAVE25
Welcome to Pass4Success

- Free Preparation Discussions
Mail Us support@pass4success.com
Location US
Mob_nav_barsMENU

IIA Exam CPEA Topic 1 Question 73 Discussion

Actual exam question for IIA's CPEA exam
Question #: 73
Topic #: 1
[All CPEA Questions]

An independent auditor might consider the procedures performed by the internal auditors because:

Show Suggested Answer Hide Answer
Suggested Answer: B

by Deeanna at Apr 09, 2024, 07:53 AM

Limited Time Offer

25%

Off

Get Premium CPEA Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel
Charlesetta
4 months ago
In conclusion, a thorough review of the procedures performed by internal auditors is essential for the external auditor to provide an unbiased opinion on the financial statements.
upvoted 0 times
...
Erin
4 months ago
So, it's important for the independent auditor to assess the quality and independence of the internal audit function.
upvoted 0 times
...
Anglea
5 months ago
However, we should also remember that internal auditors are employees whose work must be reviewed during substantive testing to ensure accuracy.
upvoted 0 times
...
Noel
5 months ago
I agree, their work might be relied upon by the external auditor to gain assurance over the financial statements.
upvoted 0 times
...
Armando
5 months ago
That's true, internal auditors play a crucial role in assessing risks and controls within the organization.
upvoted 0 times
...
Raymon
5 months ago
I think an independent auditor might consider the procedures performed by the internal auditors because their work impacts upon the cost/benefit tradeoff in evaluating inherent limitations.
upvoted 0 times
...
Jamal
5 months ago
That's possible. It's important for the independent auditor to consider all aspects when evaluating the work of internal auditors.
upvoted 0 times
...
Timothy
5 months ago
So, do you think the correct answer could be a combination of all these factors?
upvoted 0 times
...
Clay
5 months ago
I think the degree of independence of internal auditors can be inferred by the nature of their work.
upvoted 0 times
...
Jamika
6 months ago
I believe their work impacts the cost/benefit tradeoff in evaluating inherent limitations as well.
upvoted 0 times
...
Farrah
6 months ago
I agree, it's important to make sure the internal auditors' work is reliable.
upvoted 0 times
...
Jamal
6 months ago
I think an independent auditor might consider the procedures performed by the internal auditors because their work must be reviewed during substantive testing.
upvoted 0 times
...
Kendra
7 months ago
Definitely, they're trying to make sure we understand the whole picture when it comes to the relationship between internal and external auditors. I think B is the clearest answer, but the other options are good distractors to test our depth of knowledge.
upvoted 0 times
...
Orville
7 months ago
Haha, yeah option D is a bit of a curveball. Trying to slip in that independence angle. I guess the exam writer is trying to see if we're really thinking about all the nuances here.
upvoted 0 times
...
Marion
7 months ago
Yeah, I'm leaning towards B as well. The other options seem a bit more tangential. Although I do like how option D sneaks in the concept of the internal auditors' independence, which is an important factor.
upvoted 0 times
...
Carlota
7 months ago
I'd say the wording is fairly straightforward. Option B seems like the most direct answer - the independent auditor would consider the work of internal auditors because they can potentially rely on it, as long as it's deemed reliable.
upvoted 0 times
...
Argelia
7 months ago
I agree, this seems like a pretty standard question. But I'm curious to hear what others think - do you think the wording of the options is tricky or is it pretty clear-cut?
upvoted 0 times
Lang
6 months ago
I believe option D) is the proper choice here
upvoted 0 times
...
Shad
6 months ago
I'm leaning towards option B) myself
upvoted 0 times
...
Krystina
6 months ago
I think option A) makes the most sense
upvoted 0 times
...
...
Joni
7 months ago
I think this is a straightforward question testing our understanding of the role of internal auditors in an independent audit. The key points are about the independence and reliability of internal auditors' work.
upvoted 0 times
...

Save Cancel