According to IIA guidance, which of the following corporate social responsibility (CSR) evaluation activities may be performed by the internal audit activity?
1. Consult on CSR program design and implementation.
2. Serve as an advisor on CSR governance and risk management.
3. Review third parties for contractual compliance with CSR terms.
4. Identify and mitigate risks to help meet the CSR program objectives.
According to the guidance from the Institute of Internal Auditors (IIA), the internal audit activity can perform a variety of corporate social responsibility (CSR) evaluation activities. Internal audit can consult on the design and implementation of CSR programs, serve as advisors on CSR governance and risk management, and review third parties for compliance with CSR contractual terms. Mitigating risks is typically a responsibility of management, rather than internal audit. Therefore, the correct answer includes activities 1, 2, and 3.
Internal audit cannot mitigate risks, only provide assurance. The act of mitigating would be done by management, so it can't be 4.
Out of part three exam content
CSR is effectively covered in part 3. The part 3 CIA learning system will even refer you to see part 1 for more details. It's relevant