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Hello,
Which of the following statements is correct in relation to ICQs and ICEQs?
A ICEQs determine whether controls exist which meet specific control objectives; ICQs determine
whether there are controls which prevent or detect specified errors or omissions
B ICEQs are generally easier to apply to a variety of different systems than ICQs
C ICQs are likely to overlook how internal controls deal with unusual transactions; this will normally
have to be recorded using ICEQs
D ICQs can give the impression that all controls are of equal weight; this issue is resolved by using
ICEQs1. The answer is B
2. Why A is not the correct answer?Thanks
Can you please state where you are seeing this as the distinction has not been examinable for a couple of years now – the syllabus simply refers to “questionnaires”. My guess is that A is wrong because it is “defining” ICQ and ICEQ the wrong way round.
It’s an old Q and, as I said, I don’t think the distinction is examinable. Quite possibly the answer should be A – ICEQs require a higher skill from the auditor which to my mind contradicts “easier to apply”. If BPP don’t justify their answer you’d have to ask them – but I don’t think you need to worry – this wasn’t an OT case question when it was set (OT case Qs hadn’t been invented!)
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