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An engagement supervisor notes that an internal auditor usually documents and submits draft audit reports for review without giving the process owners the opportunity to state their position on the issues raised. How should the engagement supervisor respond?
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A global manufacturing company has three regional offices. The chief audit executive (CAE) is concerned about the cost of an upcoming external quality assessment of the internal audit activity. The last external assessment was performed six years ago. Recently, the internal audit staff at one of the regional offices performed an internal assessment. To ensure conformance with the Standards, what is the most appropriate action for the CAE to take?

Question 466 - IIA-CIA-Part1 discussion

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According to HA guidance, which of the following statements is true regarding the internal audit activity's quality assurance and improvement program (QAIP)?

A.
Internal assessments rely solely on the review of completed audit engagements for demonstrated performance
Answers
A.
Internal assessments rely solely on the review of completed audit engagements for demonstrated performance
B.
The chief audit executive is responsible for assessing the suitability and competence of an external assessor.
Answers
B.
The chief audit executive is responsible for assessing the suitability and competence of an external assessor.
C.
QAIP results must first be discussed with the board and approval obtained for distribution to senior management
Answers
C.
QAIP results must first be discussed with the board and approval obtained for distribution to senior management
D.
At the board's discretion, the frequency of external assessments can exceed the five-year guideline
Answers
D.
At the board's discretion, the frequency of external assessments can exceed the five-year guideline
Suggested answer: B
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asked 18/09/2024
Kristi Riddick
29 questions
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