An external assessment of an organization's internal audit activity was last completed four years ago Which of the following options would be acceptable this year if the internal audit activity is to fulfill the requirements of the Standards?
A.
The internal audit activity conducts a self-assessment that is validated by a qualified and experienced internal auditor and then schedules a qualified, independent external assessor
B.
The board nominates an independent individual from senior management in the organization to conduct an assessment of the internal audit activity
C.
An external auditor conducts an audit of the organization which includes information about the internal audit activity
D.
The chief audit executive schedules a self-assessment and the board approves the results
The IIA's Standards require that an external assessment of an organization's internal audit activity must be conducted at least once every five years. Option A is the only acceptable approach listed that aligns with these standards. It involves conducting a self-assessment with independent validation by a qualified and experienced internal auditor, followed by scheduling an external assessor who is also qualified and independent. This process ensures compliance with the IIA’s requirement for external assessments, maintaining both the credibility and objectivity of the internal audit activity.
The Institute of Internal Auditors (IIA) - Standards for the Professional Practice of Internal Auditing
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