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Exam IIA-CIA-Part1 topic 6 question 358 discussion

Actual exam question from IIA's IIA-CIA-Part1
Question #: 358
Topic #: 6
[All IIA-CIA-Part1 Questions]

According to IIA guidance, the chief audit executive, board, and senior management must mutually agree on which of the following?

  • A. Internal audit activity objectives and responsibilities.
  • B. Audit engagements to be performed during the year.
  • C. The items selected for detailed audit testing.
  • D. Staffing of the internal audit activity.
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Suggested Answer: B 🗳️
by Elvoo at July 24, 2024, 8:24 p.m.

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Kozy
3 weeks, 5 days ago
Selected Answer: A
B: Wrong While the risk-based audit plan is typically developed by the CAE and presented to the board for approval, mutual agreement with all three parties (CAE, board, senior management) is not required for the detailed list of engagements. The CAE may consult with management but formal approval rests with the board.
upvoted 1 times
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Elvoo
1 year ago
Shouldn't the right answer be A?
upvoted 4 times
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