IIA Exam IIA-CFSA Topic 5 Question 69 Discussion

Actual exam question for IIA's IIA-CFSA exam

Question #: 69
Topic #: 5

Some objectives of an audit related to mutual funds might include determining that:

AMutual fund checks are issued in accordance with firm policies and supported by valid trades

BMutual fund purchases are confirmed on a timely basis

CMutual fund switches are not authorized by the client

DAll EXCEPT ''C''

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Suggested Answer: D

by Kati at Jan 12, 2025, 01:24 PM

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4 days ago

Hmm, I'm going to have to go with B. Timely confirmations are crucial, especially when your mutual funds are as volatile as a roller coaster.

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7 days ago

D, all except C? Okay, so we're playing a game of 'guess which one doesn't belong'. I'm feeling lucky!

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13 days ago

A and B seem like the obvious choices here. I mean, who doesn't love a good mutual fund audit? It's like watching paint dry, but with numbers!

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