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IIA Exam IIA-CIA-Part3-3P Topic 2 Question 56 Discussion

Actual exam question for IIA's IIA-CIA-Part3-3P exam
Question #: 56
Topic #: 2
[All IIA-CIA-Part3-3P Questions]

A manager who is authorized to make purchases up to a certain dollar amount approves the set-up of a fictitious vendor and subsequently initiates purchase orders.

Which of the following controls would best address this risk?

Show Suggested Answer Hide Answer
Suggested Answer: B

by Rosalia at Sep 13, 2024, 02:37 AM

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Sharee
23 days ago
Option A all the way! Separate teams are the way to go. Can't have the fox guarding the hen house, am I right?
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Val
4 days ago
A) Establish separate vendor creation and approval teams.
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Blythe
29 days ago
Requiring a conflict-of-interest declaration, as in option D, is a smart move. It adds another layer of accountability.
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Janey
3 days ago
C: Performing regular reviews of the vendor master file could also help catch any issues.
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Mireya
5 days ago
B: I agree, it definitely adds accountability.
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Dominga
12 days ago
A: I think requiring a conflict-of-interest declaration is a good idea.
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Adelina
1 months ago
While the code of conduct in option B is a good step, it's not a strong enough control on its own. More proactive measures are needed.
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Maddie
11 days ago
D) Require submission of a conflict-of-interest declaration.
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Annette
12 days ago
That's a good point. Having separate teams would definitely help prevent this kind of fraud.
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Amira
13 days ago
C) Perform a regular review of the vendor master file.
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Becky
27 days ago
A) Establish separate vendor creation and approval teams.
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Dierdre
1 months ago
I think performing a regular review of the vendor master file would also help in detecting any unauthorized vendors.
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Minna
1 months ago
I agree with Arminda. Having separate teams would prevent one person from setting up a fictitious vendor and initiating purchase orders.
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Brande
2 months ago
A regular review of the vendor master file, as suggested in option C, is also a good idea. It's an important control to catch any suspicious activity.
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Marcelle
2 months ago
I think option A is the best solution. Separate teams for vendor creation and approval would help prevent conflicts of interest.
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Beata
11 days ago
D) Require submission of a conflict-of-interest declaration.
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Mari
14 days ago
That sounds like a good idea. Regular reviews would definitely help catch any unauthorized vendors.
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Casandra
19 days ago
C) Perform a regular review of the vendor master file.
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Lucy
21 days ago
A) Establish separate vendor creation and approval teams.
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Britt
21 days ago
That sounds like a good idea. Having separate teams would definitely help prevent any conflicts of interest.
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Glen
22 days ago
C) Perform a regular review of the vendor master file.
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Shanice
1 months ago
A) Establish separate vendor creation and approval teams.
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Arminda
2 months ago
I think the best control would be to establish separate vendor creation and approval teams.
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