The Results of an Internal Audit Activity's (IAA) Quality Assurance

question 25

Multiple Choice

The results of an internal audit activity's (IAA) quality assurance and improvement program are favorable and an external assessment was completed within the last five years. Which of the following statements may the IAA use to describe its work?

• A) "Completed with the advance certification of the External Assessors Association for Auditing Review."
• B) "Conforms with the International Standards for the Professional Practice of Internal Auditing."
• C) "Certified 100% accuracy, per the International Standards of External Assessment."
• D) "Compliant with all domestic and international legal statutes, and certified quality assured for ten years."

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Definitions:

Industry And Business

The sectors of the economy dealing with the production, distribution, and sale of goods and services.

Drawbacks And Benefits

Refers to the negative and positive outcomes or consequences associated with a particular situation, action, or decision.

Canadian Universities

Institutions of higher education located in Canada, recognized for providing a wide range of undergraduate, graduate, and professional programs.

Current Trends

The latest movements, developments, or preferences within a particular area or field.