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Question 265

Which of the following scenarios best illustrates the concept of due professional care?

After establishing engagement objectives and reviewing a process, the internal auditor assured process owners that all significant risk events were identified and tested using a systematic, disciplined approach.

After conducting an audit based upon a predefined scope and objective, the internal auditor guaranteed management that the system of internal controls in an audited area operates effectively.

As head of the internal audit activity, the chief audit executive reported functionally to the organization’s board and administratively to senior management.

As head of the internal audit activity, the chief audit executive ensures that engagement supervisors conduct post-engagement staff meetings.

Correct Answer: A

Due professional care involves an auditor performing their responsibilities with the competence and diligence expected of a professional in this role. The internal auditor in option A demonstrates this by systematically and rigorously identifying and testing significant risk events, ensuring that their work is thorough and reliable. This approach aligns with the principles of due professional care, ensuring that all significant areas are addressed during the audit.

Discussion

ElvooOption: B

Why not B?

DMX02

Guaranteeing the effectiveness of internal controls doesn’t directly address due professional care; it’s more about assurance.