Which of the Following Is the IIA's Stated Position Regarding

question 108

Multiple Choice

Which of the following is the IIA's stated position regarding the internal auditing activity?

• A) All responsibilities for internal auditing activity can be outsourced.
• B) An in-house liaison, such as an executive or senior management member, should be assigned the responsibility for internally managing the internal auditing activity.
• C) All internal auditors involved in the internal auditing activity must be CIAs.
• D) Internal auditors for the internal auditing activity should be supervised by CPAs.

---

Definitions:

Trust Fund

A legal entity that holds and manages assets on behalf of another person or group under a set agreement.

Financial Advisors

Professionals who provide guidance to individuals and organizations on how to manage their finances, including investments, insurance, and retirement planning.

Anosognosia

A condition in which a person is unaware of their own mental health condition or cannot perceive their condition accurately.

Money Management

Money Management is the process of budgeting, saving, investing, spending, or otherwise overseeing the capital usage of an individual or group.