Exam IIA-CIA-Part1 topic 6 question 346 discussion

Actual exam question from IIA's IIA-CIA-Part1

Question #: 346
Topic #: 6

A new chief audit executive realized that the internal audit charter has not been updated in five years and only includes the Core Principles for the Professional Practice of Internal Auditing, the Code of Ethics, and the Standards. What mandatory component is missing?

A. Statement of Independence.
B. Operating Procedures of Internal Auditing.
C. Definition of Internal Auditing.
D. Attestation of Quality Assurance.

Show Suggested Answer

Suggested Answer: B 🗳️

by Elvoo at June 29, 2024, 9:40 a.m.

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Kozy

3 weeks, 5 days ago

Selected Answer: C

According to IIA Standard 1000 and related guidance, an internal audit charter must clearly define: ✅ The purpose, authority, and responsibility of the internal audit activity. ✅ Include references to key mandatory guidance elements from the IIA International Professional Practices Framework (IPPF), such as: The Definition of Internal Auditing, The Code of Ethics, The Core Principles, The Standards. In the scenario: The Code of Ethics, Core Principles, and Standards are included. But the Definition of Internal Auditing is missing — this is a mandatory component of the charter.

upvoted 1 times

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abdullah01

1 year ago

C is right

upvoted 3 times

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Elvoo

1 year, 1 month ago

Why not C?

upvoted 1 times

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