How can the internal audit function demonstrate professional competency?
A.
Providing relevant recommendations in line with current activities, trends, or emerging issues to engagement clients.
B.
Ensuring that individual members of the internal audit function have the same technical skills.
C.
Conforming to the independence required by the Global Internal Audit Standards.
D.
Developing reputation and expertise among different functions within the organization in order to secure other responsibilities when they depart from internal auditing.
Professional competency is demonstrated when internal auditors apply appropriate knowledge, skills, judgment, and awareness of current developments to provide useful and relevant advice. Recommendations that reflect current activities, emerging risks, industry trends, and changing business conditions demonstrate that internal audit possesses and applies up-to-date professional competence. Audit team members do not need identical technical skills; effective internal audit functions typically combine complementary competencies. Independence is a separate fundamental requirement and does not by itself demonstrate proficiency. Developing expertise merely to obtain future positions outside internal audit is also unrelated to the professional competency expected in performing current responsibilities. Internal Audit Fundamentals material emphasizes keeping knowledge current and providing relevant advice and recommendations to management and the board. Therefore, option A best demonstrates professional competency.
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