According to IIA guidance, which of the following would the internal audit activity examine in order to evaluate the organization's governance process for strategic and operational decisions'?
A.
The risk assessment process including interviews with senior management.
B.
The organization’s mission and value statements, code of conduct, and whistleblowing policy
C.
Board meeting minutes the board policy manual, and past audit reports
D.
Staff compensation objective setting and the performance evaluation policy and process
The first step for a newly hired chief audit executive (CAE) to build and maintain the proficiency of the internal audit activity should be to incorporate the basic criteria of internal audit competency into job descriptions. This foundational step ensures that all current and future hires are aligned with the required skills and competencies needed for effective internal audit functions. It sets a clear expectation of skills and knowledge right from the recruitment stage, thereby facilitating the development and maintenance of a competent audit team.
The Institute of Internal Auditors (IIA) - Practice Guides on Talent Management
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