In the context of assurance activities, what does the term "assurance objectivity" refer to?
A.
To the degree to which an Assurance Provider can adhere to industry standards and best practices in performing audits.
B.
To the degree to which an Assurance Provider can provide accurate and reliable information to stakeholders on which they can form an opinion about the subject matter themselves.
C.
The degree to which an Assurance Provider can be impartial, disinterested, independent, and free to conduct necessary activities to form an opinion about the subject matter.
D.
To the degree to which an Assurance Provider can minimize costs and maximize efficiency in performing audits.
Assurance Objectivityrefers to the assurance provider’sability to maintain independence and impartialityin evaluating subject matter.
Impartiality:
Assurance providers must remain unbiased and free from conflicts of interest to ensure their conclusions are trustworthy.
Independence:
Assurance activities should be conducted independently of the area or individuals being evaluated.
Conduct of Activities:
The assurance provider must have the freedom to perform all necessary procedures to evaluate the subject matter comprehensively.
References:
IIA Standards (Independence and Objectivity): Highlights the importance of maintaining objectivity in internal audit and assurance activities.
ISO 19011: Reinforces objectivity as a core principle in auditing practices.
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