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IIA-ACCA Exam - Topic 10 Question 80 Discussion

Management is developing and implementing a risk and control framework for use throughout the organization. Which of the following elements should be included in the organization's control framework?1. Appropriate levels of authority and responsibility.2. Supervision of staff and appropriate review of work.3. The seniority of management in the organization.4. The ability to trace each transaction to an accountable and responsible individual.
A) 1,2, and 3.
B) 1.2, and 4.
C) 1.3, and 4.
D) 2, 3, and 4.

IIA-ACCA Exam - Topic 10 Question 80 Discussion

Actual exam question for IIA's IIA-ACCA exam
Question #: 80
Topic #: 10
[All IIA-ACCA Questions]

Management is developing and implementing a risk and control framework for use throughout the organization. Which of the following elements should be included in the organization's control framework?

1. Appropriate levels of authority and responsibility.

2. Supervision of staff and appropriate review of work.

3. The seniority of management in the organization.

4. The ability to trace each transaction to an accountable and responsible individual.

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Suggested Answer: A

by Arleen at Jul 04, 2024, 07:53 PM

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Cordell
9 months ago
I agree, 1, 2, and 4 are essential for a solid framework!
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Glendora
10 months ago
Wait, can we really trace every transaction? Sounds tough.
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Herminia
10 months ago
1, 2, and 4 seem like the best combo!
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Alline
10 months ago
I think seniority (3) matters too, though.
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Andree
10 months ago
Definitely need 1, 2, and 4 for accountability.
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Theodora
11 months ago
I’m leaning towards option B because it covers supervision and accountability, but I’m not entirely confident about the role of authority in this context.
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Alex
11 months ago
I feel like I’ve seen a question like this before, and I think supervision and tracing transactions are key. But I’m torn about including seniority.
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Dorian
11 months ago
I think options 1, 2, and 4 make the most sense together. They all focus on accountability and oversight, which are crucial for effective controls.
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Alline
11 months ago
I remember discussing the importance of authority and responsibility in our last class, but I'm not sure if seniority really fits in the control framework.
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Troy
11 months ago
I'm a little confused by the options. I'll need to re-read the question and think through each element to decide which combination best fits the control framework requirements.
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Shannon
11 months ago
The key here is to focus on the core control framework components like segregation of duties, supervision, and accountability. I think I've got a good handle on this.
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Donte
11 months ago
Hmm, I'm a bit unsure about the seniority of management part. I'll need to think that one through carefully.
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Franklyn
11 months ago
This looks like a straightforward question on control framework elements. I'm pretty confident I can tackle this one.
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Glennis
11 months ago
Okay, let's see. Appropriate levels of authority and responsibility, supervision and review of work - those seem like clear control framework elements. The tricky part is figuring out if seniority or traceability to individuals is also required.
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Owen
11 months ago
Hmm, I'm a bit unsure about this one. The requirements mention high data security, low bandwidth, and high image quality - that seems like a lot of competing priorities. I'll have to think through which configuration best balances all of those needs.
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Ngoc
11 months ago
I lean toward B because transferring disks seems risky, but I also recall something about the dangers of unauthorized emails.
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Rosendo
1 year ago
Hmm, I feel like option B is the way to go. Appropriate authority, supervision, and traceability - that's the holy trinity of control frameworks.
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Chantell
1 year ago
I'm pretty sure 'the seniority of management' is just a fancy way of saying 'the boss gets away with anything'.
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Nobuko
1 year ago
Wait, are you telling me I can't just blame the intern for everything? This is an outrage!
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Katina
1 year ago
User 3: And don't forget the ability to trace each transaction to an accountable and responsible individual.
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Salena
1 year ago
The seniority of management in the organization plays a role in the control framework as well.
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Ty
1 year ago
Supervision of staff and appropriate review of work is also important in the control framework.
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Reyes
1 year ago
User 2: That's right. Supervision of staff and appropriate review of work is important too.
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Sharee
1 year ago
User 1: No, you can't just blame the intern. You need appropriate levels of authority and responsibility.
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Paola
1 year ago
You can't just blame the intern for everything, you need appropriate levels of authority and responsibility.
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Lettie
1 year ago
I believe the ability to trace each transaction to an accountable individual is important too.
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Boris
1 year ago
I agree with Nydia, supervision of staff and appropriate review of work is also crucial.
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Mozell
1 year ago
1, 2, and 4 seem like the obvious choices to me. Tracing transactions to responsible individuals is crucial for accountability.
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Dong
1 year ago
So, the answer would be B) 1, 2, and 4.
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Felicitas
1 year ago
Tracing transactions to responsible individuals ensures accountability.
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Queen
1 year ago
Supervision of staff and reviewing work is also important for control.
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Curtis
1 year ago
I agree, having appropriate levels of authority and responsibility is key.
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Nydia
1 year ago
I think the control framework should include appropriate levels of authority and responsibility.
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