IIA Exam IIA-ACCA Topic 10 Question 80 Discussion

Actual exam question for IIA's IIA-ACCA exam

Question #: 80
Topic #: 10

According to MA guidance on IT. which of the following would be considered a primary control for a spreadsheet to help ensure accurate financial reporting?

AFormulas and static data are locked or protected.

BThe spreadsheet is stored on a network server that is backed up daily.

CThe purpose and use of the spreadsheet are documented.

DCheck-in and check-out software is used to control versions.

Show Suggested Answer

Suggested Answer: A

by Arleen at Jul 04, 2024, 07:53 PM

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Yesenia

4 months ago

Ah, the age-old debate: should I lock my spreadsheet or back it up? It's like choosing between a padlock and a parachute. Tough call.

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Leatha

3 months ago

D) Check-in and check-out software is used to control versions.

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Martin

4 months ago

C) The purpose and use of the spreadsheet are documented.

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Billye

4 months ago

A) Formulas and static data are locked or protected.

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Gilma

4 months ago

Check-in and check-out software? Really? That sounds like overkill for a simple spreadsheet. I'm going to go with option A on this one.

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Julie

4 months ago

You know, I think the purpose and use of the spreadsheet should be documented. That way, everyone knows exactly how it's supposed to be used and what it's for.

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Providencia

4 months ago

Hmm, I'm not so sure. Backing up the spreadsheet on a network server is also important to prevent data loss. Maybe that's the better option?

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Rodney

4 months ago

D) Check-in and check-out software is used to control versions.

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Kizzy

4 months ago

Backing up the spreadsheet on a network server is important for data loss prevention.

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Camellia

4 months ago

C) The purpose and use of the spreadsheet are documented.

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Glory

4 months ago

A) Formulas and static data are locked or protected.

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Altha

5 months ago

A locked spreadsheet with protected formulas definitely seems like the way to go here. That's going to be the best way to ensure accurate financial reporting.

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