IIA Exam IIA-ACCA Topic 7 Question 72 Discussion

Actual exam question for IIA's IIA-ACCA exam

Question #: 72
Topic #: 7

An internal auditor has been asked to conduct an investigation involving allegations of independent contractor fraud. Which of the following controls would be least effective in detecting any potential fraudulent activity?

AException report identifying payment anomalies.

BDocumented policy and procedures.

CPeriodic account reconciliation of contractor charges.

DMonthly management review of all contractor activity.

Show Suggested Answer

Suggested Answer: C

by Noah at Mar 20, 2024, 10:54 AM

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Sue

1 days ago

I agree with Sean. Monthly reviews may not catch fraud as quickly as the other options.

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Sean

4 days ago

I think the least effective control would be D) Monthly management review of all contractor activity.

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