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IIA Exam IIA-ACCA Topic 3 Question 73 Discussion

Actual exam question for IIA's IIA-ACCA exam
Question #: 73
Topic #: 3
[All IIA-ACCA Questions]

According to MA guidance on IT. which of the following would be considered a primary control for a spreadsheet to help ensure accurate financial reporting?

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Suggested Answer: A

by Rodolfo at Apr 12, 2024, 12:49 PM

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Colton
4 months ago
That's a good point, Cathern. Version control is essential in avoiding errors.
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Cathern
4 months ago
Personally, I believe D) Check-in and check-out software is used to control versions, is vital for tracking changes and ensuring accuracy.
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Tatum
4 months ago
I see your point, Nobuko. It's crucial to have proper documentation for transparency.
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Nobuko
4 months ago
I'm not sure, but I think C) The purpose and use of the spreadsheet are documented is important too.
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Colton
5 months ago
I agree with Tatum. That way, the integrity of the data is maintained.
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Tatum
5 months ago
I think the primary control for a spreadsheet would be A) Formulas and static data are locked or protected.
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Chan
5 months ago
In my opinion, using check-in and check-out software to control versions is equally important. It helps in tracking changes made to the spreadsheet.
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Cristy
6 months ago
I believe documenting the purpose and use of the spreadsheet is also crucial. It helps in understanding the context of the data.
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Pansy
6 months ago
I agree with that. It's important to ensure the accuracy of financial reporting.
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Stacey
6 months ago
I think the primary control for a spreadsheet should be formulas and data protection.
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Laticia
6 months ago
Check-in and check-out software is important for controlling versions.
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Eleonora
6 months ago
I think the purpose and use of the spreadsheet should also be documented.
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Lavina
6 months ago
I agree, formulas and data protection are crucial.
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Jennie
7 months ago
Haha, yeah, a coffee break sounds like a great idea. Maybe we can also grab a doughnut or two, you know, to fuel our brains for this epic battle of spreadsheet controls.
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Lourdes
7 months ago
You know, I'm starting to get a headache just thinking about this. Can we take a break and get some coffee? I feel like I need to clear my head before tackling this one.
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Kaitlyn
7 months ago
Hmm, I don't know. I was leaning towards D, with the check-in and check-out software to control versions. That way, you can always go back and see who made what changes, right?
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Celia
7 months ago
Ah, I see where you're coming from, but I disagree. I think C is the way to go - documenting the purpose and use of the spreadsheet. That way, everyone who uses it knows exactly what it's for and how to use it properly.
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Delpha
7 months ago
I'm not so sure about that. I think B might be the better answer - storing the spreadsheet on a backed-up network server. That ensures the data is secure and doesn't get lost, which is crucial for financial reporting.
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Rozella
7 months ago
Well, this is a tricky one. I think the right answer is A - formulas and static data being locked or protected. That's really the most important control to ensure accurate financial reporting in a spreadsheet, isn't it?
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