Which of the following statements is true regarding reporting results of the quality assurance and improvement program to senior management and the board?
A.
Internal assessments must be reported to the board at least every five years
B.
If supported by assessment results, reporting provides assurance that internal auditors demonstrate conformance with the Code of Ethics
C.
Following the reporting the board must give the internal audit activity five years to correct any deviations
D.
A report, including the results of both internal and external assessments must be provided to the board annually
The statement that a report, including the results of both internal and external assessments, must be provided to the board annually is true regarding the reporting of results of the quality assurance and improvement program (QAIP) to senior management and the board. Regular reporting of QAIP results ensures that the board is continually informed about the effectiveness and conformance of the internal audit activity with established standards and practices. References: Institute of Internal Auditors (IIA) - Standard 1320 - Reporting on the Quality Assurance and Improvement Program
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