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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?

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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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Loren
2 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
30 days 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
1 months ago
B) The chief audit executive must formally review the charter at least once a year
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Lisha
2 months ago
A) The nature of consulting services typically is not included in the charter.
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Phillip
2 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
2 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
19 days ago
D) The charter typically defines the internal audit activity's position within the organization.
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Leanna
23 days ago
I think B is the correct answer. Regular review is important for relevance.
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Annmarie
27 days ago
B) The chief audit executive must formally review the charter at least once a year
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Denny
1 months ago
A) The nature of consulting services typically is not included in the charter.
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Stephaine
2 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
26 days 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
1 months ago
B) The chief audit executive must formally review the charter at least once a year
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Jennifer
1 months ago
A) The nature of consulting services typically is not included in the charter.
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Merri
3 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
3 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
3 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
1 months ago
D) The charter typically defines the internal audit activity's position within the organization.
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Sylvia
1 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
2 months ago
B) The chief audit executive must formally review the charter at least once a year
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Shonda
2 months ago
A) The nature of consulting services typically is not included in the charter.
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Annmarie
3 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
2 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
2 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
3 months 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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