IIA Exam IIA-CIA-Part1 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?

AThe nature of consulting services typically is not included in the charter.

BThe chief audit executive must formally review the charter at least once a year

CThe nature of assurances provided to parties outside of the organization typically is not included in the charter.

DThe charter typically defines the internal audit activity's position within the organization.

Show Suggested Answer

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

Limited Time Offer

25%

Off

Get Premium IIA-CIA-Part1 Questions as Interactive Web-Based Practice Test or PDF