Which of the following is NOT a focus or consideration of an internal audit?
Which of the following is NOT a focus or consideration of an internal audit?
Internal audits are primarily concerned with evaluating the effectiveness and efficiency of operations, the reliability of financial reporting, and compliance with applicable laws and regulations. Certification, on the other hand, is typically achieved through independent external audits. While internal audits may test certain controls as part of their process, they do not result in official certification. Therefore, certification is not a primary focus or consideration of an internal audit.
Costs is a focus of audit? disagree.
I’m with ya, internal audit is ur own department.. why would cost matter
A financial audit performed by the internal audit team with look at costs/budget line items
Costs are the number one limitation for any company. They won’t waste money just for the fun of it whether it’s internal or external. If it’s an internal audit you aren’t attempting to achieve any accreditation or certification so for me it would be certification.
Speaking from experience doing security audits at clients, internal audits do NOT result in an official certification of any kind. See it as a way of 1) finding gaps and fixing them by a certain date by which an external audit will actually perform the audit and provide certification.
And to add to this, everything has costs to it. Internal audit = blocking personnel from doing their day to day to answer to questions, to go through documentation, have people involved internally who actually do the audit, sometimes aided by consulting firms who work from an internal audit perspective as well... All these things cost $$€€
Me too. Anyone else want to chime in?
internal audit may be the first phase of certification process, before going with external auditor for certification.Internal audit is recomanded.Costs should be best answer
Agree that Costs should be the correct answer. Certification I think is a red-herring (distractor).
C, costs out of audit scope
Answer looks correct to me, note the word 'internal' got to be A
The CCSP offical guide mentioned that internal audit covers cost, design, performance...while external covers some sort of the efficiency of control implementation.
Because external audits does not take on the role of a "trusted advisor" but more of a regulator with punitive capability, I see "A" as the BEST answer.
Certification,
in my work, i don't think Internet audit focus on operation efficiency, our SOP will increase after their audit every time, our workload increases as well