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IIA-CIA-Part1 Exam - Topic 6 Question 73 Discussion

Actual exam question for IIA's IIA-CIA-Part1 exam
Question #: 73
Topic #: 6
[All IIA-CIA-Part1 Questions]

According to IIA guidance, which of the following statements regarding the internal audit charter is true?

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Suggested Answer: D

According to the IIA's guidelines, the internal audit charter should clearly define the internal audit activity's position within the organization. This is essential to establish the authority and scope of the internal audit function, ensuring that it has the necessary independence and resources to fulfill its duties effectively. Reference: The Institute of Internal Auditors (IIA) guidelines on internal audit charter.


by Laquanda at Apr 07, 2025, 02:25 PM

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Shaun
3 months ago
I thought the charter included everything, this is confusing!
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Fatima
4 months ago
C sounds right too, outside assurances aren't usually in there.
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Kimberely
4 months ago
Wait, are you sure about A? That seems off.
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Laura
4 months ago
Totally agree, D is spot on about defining the position!
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Alishia
4 months ago
I think B is true, the charter needs a yearly review.
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Rozella
4 months ago
I practiced a question similar to this, and I believe D is the right answer since the charter usually defines the internal audit's role in the organization.
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Svetlana
5 months ago
I’m a bit confused about whether consulting services are included in the charter. I feel like it might be A, but I need to double-check that.
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Frederica
5 months ago
I remember something about the chief audit executive needing to review the charter annually, which makes me think B could be correct.
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Van
5 months ago
I think the charter definitely outlines the internal audit's position, so I’m leaning towards D, but I’m not entirely sure.
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Lenny
5 months ago
The charter is an important document, so I'll make sure to read the options closely and apply my knowledge of IIA standards.
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Aron
6 months ago
I remember learning about the internal audit charter in class, but I'm a bit fuzzy on the details. I'll have to guess on this one.
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Kimberely
6 months ago
Okay, let me try to break this down. The key is to focus on the specific guidance from the IIA.
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Stephaine
6 months ago
Hmm, I'm not too sure about the details of the internal audit charter. I'll have to think this through carefully.
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Theodora
6 months ago
This question seems straightforward, I think I can handle it.
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Loren
10 months ago
Hmm, I'm not sure. C seems to be a bit of a trap answer. Wouldn't the nature of assurances to outside parties be an important part of the charter?
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Oretha
10 months ago
C) The nature of assurances provided to parties outside of the organization typically is not included in the charter.
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Zack
10 months ago
B) The chief audit executive must formally review the charter at least once a year
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Lisha
10 months ago
A) The nature of consulting services typically is not included in the charter.
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Phillip
11 months ago
This question is a piece of cake! D is the clear winner. The charter is like the constitution of the internal audit department, of course it defines their position.
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Rebbecca
11 months ago
I'm torn between B and D. While the position within the organization is important, regular review of the charter is also crucial to ensure it remains relevant.
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Willow
9 months ago
D) The charter typically defines the internal audit activity's position within the organization.
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Leanna
9 months ago
I think B is the correct answer. Regular review is important for relevance.
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Annmarie
9 months ago
B) The chief audit executive must formally review the charter at least once a year
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Denny
10 months ago
A) The nature of consulting services typically is not included in the charter.
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Stephaine
11 months ago
B is a bit too rigid. Reviewing the charter annually might be overkill, but it should definitely be reviewed periodically.
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Sueann
9 months ago
C) The nature of assurances provided to parties outside of the organization typically is not included in the charter.
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Mickie
10 months ago
B) The chief audit executive must formally review the charter at least once a year
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Jennifer
10 months ago
A) The nature of consulting services typically is not included in the charter.
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Merri
11 months ago
I'm not sure, but I think D) The charter typically defines the internal audit activity's position within the organization is also important for clarity and alignment.
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Johnson
11 months ago
I agree with Ellsworth, it makes sense for the chief audit executive to review the charter regularly to ensure it remains relevant.
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Frederica
11 months ago
I agree with Annmarie. The charter is a crucial document that establishes the internal audit function's authority and responsibilities.
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Pansy
10 months ago
D) The charter typically defines the internal audit activity's position within the organization.
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Sylvia
10 months ago
C) The nature of assurances provided to parties outside of the organization typically is not included in the charter.
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German
10 months ago
B) The chief audit executive must formally review the charter at least once a year
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Shonda
11 months ago
A) The nature of consulting services typically is not included in the charter.
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Annmarie
12 months ago
D seems like the most comprehensive answer. The charter should definitely define the internal audit activity's position within the organization.
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Mauricio
11 months ago
User 2: I agree, it's important for the charter to clearly outline the internal audit activity's role and position.
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Jess
11 months ago
User 1: I think D is the correct answer. The charter should define the internal audit activity's position within the organization.
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Ellsworth
1 year ago
I think the answer is B) The chief audit executive must formally review the charter at least once a year.
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