Which of the following statements is correct regarding disclosure of conformance or nonconformance with the Standards?
A.
An internal audit activity that has been in existence fewer than five years cannot indicate that it is operating in conformance with the Standards because it has not yet undergone an external assessment.
B.
Once an external assessment validates conformance with the Standards, the internal audit activity may continue to use the statement until the next external assessment.
C.
If it has been more than five years since the last external assessment was conducted, the internal audit activity must cease indicating that it operates in conformance with the Standards.
D.
The chief audit executive must disclose every instance of noncompliance with the Code of Ethics or the Standards.
Per IIA Standard 1321 — Use of "Conforms with the International Standards for the Professional Practice of Internal Auditing", an internal audit activity:
May only state that it operates in conformance with the Standards if:
- It has a Quality Assurance and Improvement Program (QAIP) in place.
- It has undergone an external assessment at least once every five years.
Failure to meet the five-year external assessment requirement means:
The internal audit activity must stop claiming conformance with the Standards, regardless of other processes in place.
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Kozy
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