The chief audit executive (CAE) of an organization has established an internal audit activity (IAA) quality assessment program. According to IIA guidance, which of the following would be part of this program?
The chief audit executive (CAE) of an organization has established an internal audit activity (IAA) quality assessment program. According to IIA guidance, which of the following would be part of this program?
The quality assessment program of an internal audit activity should include both ongoing monitoring and periodic self-assessments. Ongoing monitoring includes checking compliance with audit procedures and evaluating the quality and timeliness of work, including supervision. However, it is essential to assess the internal audit activity independently of client feedback to maintain objectivity. Option A best aligns with these elements as it involves independent assessment and review of individual audits for quality and timeliness of supervision.
According to Implementation Guide 1311, ongoing monitoring includes checklist, review of the timeliness, feedback from internal audit clients. A and B are incorrect because these say the assessment is conducted independently of client feedback.
not sure why?
explain please