According to IIA guidance, which of the following statements is true regarding the internal audit activity’s responsibilities in providing consulting services?
A.
The chief audit executive is responsible for deciding the priority of consulting services in the internal audit plan
B.
The scope of consulting services is determined primarily by the internal auditor with input from management of the area under review
C.
The board defines the internal audit activity’s responsibilities over consulting activities
D.
Adding value to an organization requires the internal audit activity to initiate a consulting engagement
According to the Institute of Internal Auditors (IIA) standards and guidance, the board of an organization defines the overall responsibilities and expectations of the internal audit activity, including its role in providing consulting services. This oversight aligns with the governance role of the board to ensure that the internal audit activity conforms to the standards and adds value to the organization. The internal audit activity may provide consulting services that are advisory in nature and agreed upon with management, but it is the board that sets the overarching governance framework.
Institute of Internal Auditors (IIA) - International Professional Practices Framework (IPPF)
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