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IIA Exam IIA-CIA-Part1 Topic 9 Question 60 Discussion

Actual exam question for IIA's IIA-CIA-Part1 exam
Question #: 60
Topic #: 9
[All IIA-CIA-Part1 Questions]

According to MA guidance, which of the following is true with regard to the internal audit charter?

1. It specifies the minimum resources needed for assurance engagements.

2. It requires final approval from senior management.

3. It defines the internal audit activity's authority and responsibilities.

4. It describes the expectations for communicating the results of a quality assurance and Improvement program.

Show Suggested Answer Hide Answer
Suggested Answer: D

by Matthew at Sep 15, 2024, 03:21 AM

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Margurite
20 days ago
The internal audit charter is the foundation of the internal audit function, so it's gotta cover all the bases. I'd say B is the way to go.
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Cathrine
22 hours ago
I think B is the correct answer.
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Latia
30 days ago
I'm stumped! I think I'll just close my eyes and point to an answer. It's as good a strategy as any, right?
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Kattie
7 days ago
User 1: Don't worry, let's go through the options together.
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Altha
1 months ago
Option D looks good to me. The charter should require approval from senior management and cover the expectations for communicating the quality assurance program.
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Nadine
6 days ago
It's crucial for the internal audit charter to outline the expectations for quality assurance communication.
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Kenny
14 days ago
I think option D is the most comprehensive choice that aligns with MA guidance.
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Rodney
16 days ago
Yes, it's important for the internal audit charter to clearly define the authority and responsibilities.
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Sylvia
19 days ago
I agree, option D covers both the approval from senior management and communication expectations.
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Anabel
1 months ago
Hmm, I see your point. But I still think C) 1, 2, and 4 makes more sense.
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Leonida
1 months ago
I disagree, I believe the correct answer is B) 3 and 4 only.
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Kaycee
2 months ago
Haha, who needs an internal audit charter when you've got a magic 8-ball? Just shake it and see what it says!
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Nobuko
16 days ago
Definitely, the charter defines our authority and responsibilities.
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Regenia
24 days ago
I agree, we should follow the guidelines set in the internal audit charter.
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Zachary
26 days ago
I don't think relying on a magic 8-ball is a good idea for internal audits.
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Anabel
2 months ago
I think the answer is C) 1, 2, and 4.
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Lezlie
2 months ago
Well, the internal audit charter should clearly define the internal audit activity's authority and responsibilities, so I'd go with option B.
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Jillian
1 months ago
I agree, it also describes the expectations for communicating the results of a quality assurance and improvement program.
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Rashad
2 months ago
I think option B is correct, the internal audit charter should define the internal audit activity's authority and responsibilities.
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