Which of the following statements is true regarding a small internal audit activity with limited resources demonstrating due professional care?

Question

Harshvir Bhati · Accepted Answer

The internal audit activity may use a risk-based audit approach to ensure adequate focus.

Harshvir Bhati · Answer

Conformance with the standard for due professional care is not relevant for small audit internal activities.

Harshvir Bhati · Answer

The internal audit activity may conduct internal quality assessments multiple times per year due to the size.

Harshvir Bhati · Answer

The internal audit team may guide and supervise nonaudit employees with relevant knowledge to assist in performing engagements.

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