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Question 600 - IIA-CIA-Part1 discussion

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Which of the following is the internal audit activity expected to do with respect to the organization's governance processes?

A.

Formally audit all governance activities.

Answers
A.

Formally audit all governance activities.

B.

Provide strategic guidance on the organizational processes to senior management.

Answers
B.

Provide strategic guidance on the organizational processes to senior management.

C.

Achieve agreement with the board regarding the range of activities, depth of review, and time period to include in the assessment.

Answers
C.

Achieve agreement with the board regarding the range of activities, depth of review, and time period to include in the assessment.

D.

Audit against the governance structures and practices widely used in the industry.

Answers
D.

Audit against the governance structures and practices widely used in the industry.

Suggested answer: C

Explanation:

Internal audit activities are expected to contribute to the improvement of the organization's governance processes. To effectively fulfill this role, internal auditors must work with the board to agree on the scope of their governance assessments. This includes defining the range of activities to be reviewed, the depth of these reviews, and the time period covered. Achieving this agreement ensures that the internal audit's evaluation aligns with the board's expectations and the organization's strategic objectives, thereby enhancing the overall governance framework.

IIA Standard 2110: Governance

IIA Practice Guide: Assessing Organizational Governance

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asked 03/11/2024
Giuseppina Mancinelli
34 questions
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