The Chief Audit Executive Needs to Revise the Internal Audit

question 77

Multiple Choice

The chief audit executive needs to revise the internal audit activity's (IAA) charter. The revision must address the element of authority. Which of the following statements meets this requirement?

• A) The IAA shall identify and assess all potential risks to the operations of the organization.
• B) The IAA shall be granted access to all records relevant to the performance of its duties.
• C) Following its assessment, the IAA shall recommend risk control processes and resource management strategies.
• D) The IAA shall deliver an initial report of its findings to the organization's board within 120 days of the beginning of the engagement.

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Definitions:

DNA Synthesis

The process by which a cell makes an exact copy of its DNA, allowing for genetic information to be passed from one generation to the next.

Discontinuous Strand

A strand of DNA that is synthesized in short segments during DNA replication, also known as the lagging strand.

Fred Griffith

A British bacteriologist whose experiments in 1928 demonstrated the principle of bacterial transformation, an essential discovery that paved the way for understanding DNA as the material of heredity.

Pneumonia

A respiratory condition marked by infection of the lungs, leading to symptoms like coughing, fever, and difficulty breathing.