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IIA Exam IIA-CHAL-QISA Topic 3 Question 9 Discussion
Topic #: 3
Which of the following must be in existence as a precondition to developing an effective system of internal controls?
Professional Care: Ensuring that internal auditors demonstrate due professional care involves establishing clear policies and procedures that guide their activities.
Guidance and Standards: These policies and procedures help ensure that the internal audit activity adheres to professional standards and best practices.
Standard Compliance: According to the IIA's Performance Standard 2040 -- Policies and Procedures, the CAE must establish policies and procedures to guide the internal audit activity.
Quality Assurance: Properly developed policies and procedures contribute to the overall quality and effectiveness of the internal audit activity, ensuring that engagements are conducted with due professional care.
IIA Standard 2040 -- Policies and Procedures .
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