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IIA Internal Audit Function IIA-CIA-Part3 Question # 29 Topic 3 Discussion

IIA Internal Audit Function IIA-CIA-Part3 Question # 29 Topic 3 Discussion

IIA-CIA-Part3 Exam Topic 3 Question 29 Discussion:
Question #: 29
Topic #: 3

An internal auditor is reviewing the sales and collections processes of an e-commerce organization that is facing budget constraints. The auditor found that the accountant did not perform reconciliations of cash collections in a timely manner. The auditor determined that the reason was timing errors in the interfacing process between the customer payments portal and the accounting system. The current customer payments portal was recently implemented to replace a legacy system. The finance manager is in charge of the customer payments portal. Which of the following recommendations is the most appropriate to address the root cause of this deficiency?


A.

The accountant, in view of the budget constraints, should consider a manual workaround to include unposted transactions into the accounting system in a timely manner


B.

Management should consider investing in a new customer payments portal, as the existing portal is unable to interface accurately with the accounting system


C.

The finance manager should work with IT and the vendor of the customer payments portal to rectify the interfacing errors


D.

The accountant should perform reconciliations of cash collections to customer payment records and investigate exceptions in a timely manner


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