According to NA guidance, which of the following actions by the chief audit executive would best ensure that internal auditors demonstrate due professional care?
A.
Developing policies and procedures for the internal audit activity.
B.
Ensuring the internal audit activity is not found fallible during audit engagements.
C.
Undertaking all engagements that management requests of the internal audit activity.
D.
Ensuring the internal audit activity reports functionally to the board of directors.
Developing policies and procedures for the internal audit activity is the most effective way for the chief audit executive (CAE) to ensure that internal auditors demonstrate due professional care. This action provides a framework and guidelines that direct auditors on how to perform their duties in accordance with the highest standards of audit practice, including adherence to ethical and professional standards set out by bodies such as the IIA.
IIA Standard 1300 - Quality Assurance and Improvement Program
Contribute your Thoughts:
Chosen Answer:
This is a voting comment (?). You can switch to a simple comment. It is better to Upvote an existing comment if you don't have anything to add.
Submit