According to the Standards, the organizational status of the internal audit activity:
According to the Standards, the organizational status of the internal audit activity:
The organizational status of the internal audit activity must be sufficient to permit the accomplishment of its audit responsibilities. This is a fundamental principle to ensure the internal audit activity has the necessary authority and access to fulfill its role effectively.
Standard 1110 – Organizational Independence The chief audit executive must report to a level within the organization that allows the internal audit activity to fulfill its responsibilities.
Correct
Looks more like B. The reporting line to the board provides the CAE with direct board access for sensitive matters and enables sufficient organizational status.
no, dual reporting is the ideal as per the standards
According to interpretation standard 1000: "The internal audit charter is a formal document that defines the internal audit activity's purpose, authority, and responsibility. The internal audit charter establishes the internal audit activity's position within the organization.... It says when charter defines its independency, I spouse it is not correct because final approval of charter resides with the board?
B is wrong because said " its best" if said it must then ok, the answer is A because the word used MUST.