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Exam IIA-CIA-Part1 topic 2 question 6 discussion

Actual exam question from IIA's IIA-CIA-Part1
Question #: 6
Topic #: 2
[All IIA-CIA-Part1 Questions]

Which of the following is not true with regard to the internal audit charter?

  • A. It defines the authorities and responsibilities of the internal audit activity.
  • B. It specifies the minimum resources needed for the internal audit activity.
  • C. It provides a basis for evaluating the internal audit activity.
  • D. It should be approved by senior management and the board.
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Suggested Answer: B 🗳️
by d2f850a at Sept. 15, 2024, 12:57 p.m.

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Mitsumi
6 months, 1 week ago
Selected Answer: B
Charter assures resource for internal audit activity, but does not specify minimum require.
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d2f850a
11 months ago
Is the charter actually approved by management or is it approved by the board and reviewed by management?
upvoted 1 times
young_ricky
7 months, 3 weeks ago
You are correct - the charter is for review and acceptance by management and for approval by the board. However, from the choices, B is the "most" untrue.
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C (25%)
B (20%)
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