IIA Exam IIA-ACCA Topic 11 Question 68 Discussion

Actual exam question for IIA's IIA-ACCA exam

Question #: 68
Topic #: 11

According to IIA guidance, which of the following statements is true regarding periodic internal assessments of the internal audit activity?

AInternal assessments are conducted to benchmark the internal audit activity's performance against industry best practices.

BInternal assessments must be performed at least once every five years by a qualified assessor.

CAn internal auditor may perform a peer review of a colleague's workpapers, as long as the auditor wasn't involved in the audit under review.

DFollow-up to ensure appropriate improvements are implemented is a recommended, but not mandatory, element of internal assessments.

Show Suggested Answer

Suggested Answer: A

by Alesia at Dec 25, 2023, 11:50 AM

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Dino

2 months ago

Ah, the age-old debate of mandatory versus recommended. I think option D is incorrect - follow-up to ensure improvements are implemented should be a mandatory part of internal assessments, not just a recommendation.

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Samira

18 days ago

User 3: I'm leaning towards option C, actually.

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Erasmo

1 months ago

User 2: I disagree, I believe option B is the right answer.

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Leslie

1 months ago

User 1: I think option A is the correct one.

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Whitley

2 months ago

But doesn't the guidance recommend internal assessments every five years?

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Dana

2 months ago

I disagree, I believe the answer is B.

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Cassandra

2 months ago

Option C seems a bit sketchy to me. How can an internal auditor review their colleague's workpapers if they weren't involved in the audit? That doesn't sound like an independent review to me.

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Leslie

2 months ago

B) Internal assessments must be performed at least once every five years by a qualified assessor.

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Leigha

2 months ago

A) Internal assessments are conducted to benchmark the internal audit activity's performance against industry best practices.

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Franchesca

2 months ago

B) Internal assessments must be performed at least once every five years by a qualified assessor.

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Lindsey

2 months ago

A) Internal assessments are conducted to benchmark the internal audit activity's performance against industry best practices.

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Mary

3 months ago

I'm not sure about that. Doesn't the IIA guidance say that internal assessments are conducted to improve the internal audit activity's performance, not just to benchmark it against industry best practices? I think option A is incorrect.

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Whitley

3 months ago

I think the answer is A.

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Rutha

3 months ago

But doesn't the guidance recommend internal assessments every five years?

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Jesusa

3 months ago

I think option B is the correct answer. The IIA guidance clearly states that internal assessments must be performed at least once every five years by a qualified assessor.

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