IIA-CIA-Part2 Exam Dumps | During an assurance engagement, an internal auditor discovered that a sales manager approved numerous

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Question 69

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Question 69/186

During an assurance engagement, an internal auditor discovered that a sales manager approved numerous sales contracts for values exceeding his authorization limit. The auditor reported the finding to the audit supervisor, noting that the sales manager had additional new contracts under negotiation. According to IIA guidance, which of the following would be the most appropriate next step?

A. The audit supervisor should include the new contracts in the finding for the final audit report.

B. The audit supervisor should communicate the finding to the supervisor of the sales manager through an interim report.

C. The audit supervisor should remind the sales manager of his authority limit for the contracts under negotiation.

D. The auditor should not reference the new contracts, because they are not yet signed and therefore cannot be included in the final report.

Correct Answer: B

According to the IIA guidance, the most appropriate next step when discovering a sales manager approving contracts beyond their authorization limit is to communicate the finding to the supervisor of the sales manager through an interim report. This approach ensures that the issue is addressed promptly and management can take immediate corrective actions to prevent further unauthorized activities. Including new contracts under negotiation in the final report would delay action, while reminding the sales manager of their authority limits does not escalate the issue appropriately.
References:
* IIA Standards: 2440 - Disseminating Results
* IIA Practice Guide: Communicating Audit Results

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