According to IIA guidance, which of the following actions best demonstrates that due professional care has been considered by the internal audit activity when conducting a review of an organization's assets?
A.
Determining whether any opportunity exists for senior executives to misappropriate property or funds
B.
Planning and executing fieldwork In a complete and timely manner to identify all significant risks
C.
Verifying whether the board of directors has implemented effective internal controls
D.
Having senior management determine whether the degree of work planned is sufficient to meet engagement objectives
Demonstrating due professional care in internal auditing involves thorough planning and executing audit procedures that are appropriate to the scope and objectives of the audit. Option B, planning and executing fieldwork in a complete and timely manner to identify all significant risks, best demonstrates due professional care by ensuring that all relevant risks associated with the organization's assets are identified and addressed. This approach aligns with IIA standards that require auditors to apply knowledge, skills, and experience appropriately in providing assurance services.
IIA Standard 2200: "Due Professional Care"
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