Certified Internal Auditor (CIA) Part 1: Business Acumen — Question 26

An internal auditor uses a predefined macro provided in a popular spreadsheet application to verify the present value of the organization's investments. Which of the following is the most appropriate course of action regarding the auditor's use of this functionality?

Answer options

• A. The auditor should accept the calculations generated by the function, as any further work or documentation would be inefficient.
• B. The auditor should perform a manual recalculation of several results to validate and document the results.
• C. The auditor should review the programming of the macro before its use to ensure that it is appropriate for the required calculations.
• D. The auditor should tabulate the results in the spreadsheet to ensure the macro has generated the correct results for all calculations.

Correct answer: B

Explanation

The correct answer is B, as performing a manual recalculation helps ensure the accuracy of the results and provides necessary documentation. Option A is incorrect because relying solely on the macro without verification can lead to errors. Option C, while prudent, is less relevant than validating the output through recalculation. Option D also lacks the thoroughness of manual validation, which is essential for ensuring correctness.