Which of the following statements is true in regard to policies and procedures for guiding the internal audit activity?
Which of the following statements is true in regard to policies and procedures for guiding the internal audit activity?
A small internal audit activity may be managed informally. While formal policies and procedures are essential for larger internal audit activities to ensure structure and consistency, smaller audit activities can operate effectively with less formality. The approach can be adjusted based on the size and complexity of the audit function. Therefore, A is the correct statement.
A makes sense