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."

---

Definitions:

Homemade Dividend

A concept where investors create their own dividend stream by selling a portion of their portfolio of equities instead of relying on company-issued dividends.

Dividend Policy

A company's stance on distributing profits back to shareholders in the form of dividends versus reinvesting them in the business.

Cash Flow

The total amount of money being transferred into and out of a business, considered essential for its health and operations.