IIA Exam IIA-CIA-Part1 Topic 9 Question 60 Discussion

Actual exam question for IIA's IIA-CIA-Part1 exam

Question #: 60
Topic #: 9

[All IIA-CIA-Part1 Questions]

According to MA guidance, which of the following is true with regard to the internal audit charter?

1. It specifies the minimum resources needed for assurance engagements.

2. It requires final approval from senior management.

3. It defines the internal audit activity's authority and responsibilities.

4. It describes the expectations for communicating the results of a quality assurance and Improvement program.

A1 and 4 only.

B3 and 4 only.

C1.2. and 4.

D2. 3. and 4.

Show Suggested Answer

Suggested Answer: D

by Matthew at Sep 15, 2024, 03:21 AM

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Margurite

9 months ago

The internal audit charter is the foundation of the internal audit function, so it's gotta cover all the bases. I'd say B is the way to go.

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Dean

8 months ago

So, B) 3 and 4 only is the best choice.

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Brinda

8 months ago

That's right, it also includes expectations for communicating results of quality assurance.

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Franklyn

8 months ago

Yeah, the internal audit charter needs to define authority and responsibilities.

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Cathrine

8 months ago

I think B is the correct answer.

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Latia

9 months ago

I'm stumped! I think I'll just close my eyes and point to an answer. It's as good a strategy as any, right?

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Vannessa

8 months ago

Cherri: I agree, the internal audit charter defines the authority and responsibilities, and also the expectations for communication.

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Cherri

8 months ago

User 2: Okay, sounds good. Let's see... I think it's B) 3 and 4 only.

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Kattie

9 months ago

User 1: Don't worry, let's go through the options together.

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Altha

10 months ago

Option D looks good to me. The charter should require approval from senior management and cover the expectations for communicating the quality assurance program.

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Nadine

9 months ago

It's crucial for the internal audit charter to outline the expectations for quality assurance communication.

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Kenny

9 months ago

I think option D is the most comprehensive choice that aligns with MA guidance.

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Rodney

9 months ago

Yes, it's important for the internal audit charter to clearly define the authority and responsibilities.

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Sylvia

9 months ago

I agree, option D covers both the approval from senior management and communication expectations.

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Anabel

10 months ago

Hmm, I see your point. But I still think C) 1, 2, and 4 makes more sense.

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Leonida

10 months ago

I disagree, I believe the correct answer is B) 3 and 4 only.

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Kaycee

10 months ago

Haha, who needs an internal audit charter when you've got a magic 8-ball? Just shake it and see what it says!

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Nobuko

9 months ago

Definitely, the charter defines our authority and responsibilities.

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Regenia

9 months ago

I agree, we should follow the guidelines set in the internal audit charter.

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Zachary

9 months ago

I don't think relying on a magic 8-ball is a good idea for internal audits.

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Anabel

10 months ago

I think the answer is C) 1, 2, and 4.

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Lezlie

10 months ago

Well, the internal audit charter should clearly define the internal audit activity's authority and responsibilities, so I'd go with option B.

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Jillian

10 months ago

I agree, it also describes the expectations for communicating the results of a quality assurance and improvement program.

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Rashad

10 months ago

I think option B is correct, the internal audit charter should define the internal audit activity's authority and responsibilities.

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