According to IIA guidance, which of the following is the primary reason the chief audit executive discusses the internal audit charter with senior management and the board?
A.
To provide guidance and solicit feedback on managing the internal audit activity as expected by various stakeholders.
B.
To provide an understanding of the Mission of Internal Audit and The IIA's mandatory guidance elements.
C.
To provide an update on the internal audit activity's quality of engagement supervision.
D.
To provide information on existing internal audit planning, changes to the internal audit plan, and the rationale for the changes
According to IIA guidance, the primary reason the chief audit executive discusses the internal audit charter with senior management and the board is to provide an understanding of the Mission of Internal Audit and The IIA's mandatory guidance elements. The charter defines the purpose, authority, and responsibility of the internal audit activity, aligning it with the organization's objectives and governance.
The IIA's International Professional Practices Framework (IPPF) particularly emphasizes the importance of the internal audit charter as a foundational document.
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