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Question 108

Which of the following is correct regarding the implementation of a quality assurance and improvement program for the internal audit function?

The board has the primary responsibility for implementation of a robust quality assurance and improvement program for internal audit.

An internal audit function that is fully complying with internal assessment of quality can confidently claim it is performing in conformity with the International Professional Practices Framework.

The chief audit executive can establish a formal quality assurance and improvement program that is led by an audit manager.

A quality assurance and improvement program is applicable depending on the size and complexity of the audit function.

Correct Answer: C

The chief audit executive (CAE) is responsible for establishing a formal quality assurance and improvement program for the internal audit function. This encompasses both internal and external assessments, and while an audit manager can lead the effort, the responsibility for implementation and oversight lies with the CAE. It ensures the internal audit activities conform with the International Professional Practices Framework and continuously improve the effectiveness of the audit function.

Discussion

abdullah01Option: B

b is better