IIA Exam IIA-CRMA Topic 9 Question 55 Discussion

Actual exam question for IIA's IIA-CRMA exam

Question #: 55
Topic #: 9

Which of the following actions should the audit committee take to promote organizational independence for the internal audit activity?

ADelegate final approval of the risk-based internal audit plan to the chief audit executive (CAE).

BApprove the annual budget and resource plan for the internal audit activity.

CAssist the CAE with hiring objective and competent internal audit staff.

DEncourage the CAE to communicate and coordinate with the external auditor.

Show Suggested Answer

Suggested Answer: B

by Kristel at Feb 08, 2023, 06:17 PM

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Felicidad

2 months ago

D seems like the best option. Encouraging coordination with the external auditor can enhance the overall assurance provided.

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Nelida

26 days ago

C) Assist the CAE with hiring objective and competent internal audit staff.

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Dylan

1 months ago

B) Approve the annual budget and resource plan for the internal audit activity.

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Alecia

1 months ago

A) Delegate final approval of the risk-based internal audit plan to the chief audit executive (CAE).

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Lizbeth

2 months ago

Haha, how about we all just audit each other? That would really promote independence! But in all seriousness, I'd go with B.

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Matthew

1 months ago

C) Assist the CAE with hiring objective and competent internal audit staff.

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Caitlin

2 months ago

B) Approve the annual budget and resource plan for the internal audit activity.

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Ena

2 months ago

A) Delegate final approval of the risk-based internal audit plan to the chief audit executive (CAE).

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Joni

3 months ago

I think C is the answer. Helping the CAE hire competent staff is crucial for maintaining objectivity in the internal audit function.

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Alpha

1 months ago

It's true, promoting organizational independence requires a combination of actions like those mentioned in the answer options.

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Bulah

1 months ago

I think B is also important, as the audit committee should approve the annual budget and resource plan.

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Bernardine

2 months ago

I agree, having objective and competent staff is essential for the internal audit activity.

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Clay

3 months ago

Definitely B. The audit committee should approve the internal audit budget and resources to ensure the activity has the necessary means to operate independently.

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Truman

3 months ago

I believe the audit committee should also assist the CAE with hiring objective and competent internal audit staff. This will further promote organizational independence.

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Tawna

3 months ago

I agree with Devon. It's important for the audit committee to ensure the internal audit activity has the necessary resources to operate independently.

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Devon

4 months ago

I think the audit committee should approve the annual budget and resource plan for the internal audit activity.

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