Which of the following statements is correct regarding disclosure of conformance or 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.
According to the IIA ' s Standards, 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. Regular external assessments are required at least once every five years to validate that an internal audit activity continues to operate in conformance with the Standards.
Institute of Internal Auditors (IIA) - International Professional Practices Framework (IPPF)
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