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IIA-ACCA Exam - Topic 5 Question 4 Discussion

Actual exam question for IIA's IIA-ACCA exam
Question #: 4
Topic #: 5
[All IIA-ACCA Questions]

Which of the following factors should be considered when determining the appropriate combination of manual techniques and computer-assisted audit techniques (CAATs) to be used during an audit?

1. Acceptance of CAATs findings by entity management.

2. Computer knowledge and expertise of the auditor.

3. Time constraints.

4. Level of audit risk.

Show Suggested Answer Hide Answer
Suggested Answer: D

by Sharika at May 04, 2022, 06:26 PM

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Anglea
4 months ago
I’d say all of them matter, but especially 2 and 4!
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Francine
5 months ago
Totally agree, level of audit risk is crucial!
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Mose
5 months ago
Wait, can CAATs findings really be trusted by management?
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Dick
5 months ago
I think time constraints are super important too.
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Jutta
5 months ago
Definitely need to consider the auditor's computer skills!
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Aliza
5 months ago
I lean towards option D because I believe all those factors are interconnected, especially the auditor's knowledge and the level of risk.
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Gretchen
5 months ago
I feel like we practiced a question similar to this, and I think it was about balancing manual techniques with CAATs based on risk levels.
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Marsha
5 months ago
I think time constraints and audit risk are definitely important, but I can't recall if management's acceptance of CAATs findings plays a big role.
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Eleni
5 months ago
I remember we discussed how the auditor's expertise is crucial, but I'm not sure if it's the only factor to consider.
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Derick
5 months ago
I'm feeling good about this one. I remember learning that Cortex XDR has security measures in place to assess the risk of scripts before allowing them to run. So I'm leaning towards B as the right answer.
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Kerry
6 months ago
This question seems straightforward - I just need to identify the circumstance where sample size doesn't need to be increased. Let me think this through carefully.
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Kami
6 months ago
Okay, I remember learning about this in class. Inelastic demand means a small change in price leads to a small change in quantity demanded, right? I'll go with A.
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