IIA Exam IIA-ACCA Topic 3 Question 82 Discussion

Actual exam question for IIA's IIA-ACCA exam

Question #: 82
Topic #: 3

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?

AFormulas and static data are locked or protected.

BThe spreadsheet is stored on a network server that is backed up daily.

CThe purpose and use of the spreadsheet are documented.

DCheck-in and check-out software is used to control versions.

Show Suggested Answer

Suggested Answer: A

by Heike at Jul 16, 2024, 04:18 AM

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Dana

6 months ago

I'm going with A. Protecting the core elements of the spreadsheet is the most effective way to guarantee accurate financial data.

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Garry

6 months ago

Haha, option D is just way too much for a simple spreadsheet. Who needs version control for this kind of thing?

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Delisa

5 months ago

I agree, version control seems excessive for a simple spreadsheet.

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Luke

5 months ago

D) Check-in and check-out software is used to control versions.

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Keneth

5 months ago

C) The purpose and use of the spreadsheet are documented.

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Vi

6 months ago

A) Formulas and static data are locked or protected.

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Phil

6 months ago

Option C seems to be the most comprehensive answer. Documenting the purpose and use of the spreadsheet is essential for maintaining control.

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Noel

6 months ago

C) The purpose and use of the spreadsheet are documented.

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Ahmad

6 months ago

A) Formulas and static data are locked or protected.

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Pamella

7 months ago

I think option B is the most important. Backing up the spreadsheet on a server is crucial for data security and recovery.

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Lacey

6 months ago

C) The purpose and use of the spreadsheet are documented.

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Shannan

6 months ago

B) The spreadsheet is stored on a network server that is backed up daily.

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Gearldine

6 months ago

A) Formulas and static data are locked or protected.

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Mattie

7 months ago

I think documenting the purpose and use of the spreadsheet is equally important to ensure accurate financial reporting.

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Precious

7 months ago

I believe storing the spreadsheet on a network server that is backed up daily is also important for data integrity.

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Nada

7 months ago

I agree with Kristian, having locked or protected formulas and data is crucial for accurate financial reporting.

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Kristian

7 months ago

I think the primary control for a spreadsheet should be formulas and static data locked or protected.

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Colton

7 months ago

Definitely option A. Locking the formulas and data is the best way to ensure accuracy in financial reporting.

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Adelle

7 months ago

I think option C is also important, documenting the purpose and use of the spreadsheet.

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