Qualification in Internal Audit Leadership (QIAL) — Question 5

According to IIA guidance, which of the following would the internal audit activity examine in order to evaluate the organization’s governance process for strategic and operational decisions?

Answer options

• A. The risk assessment process, including interviews with senior management.
• B. The organization’s mission and value statements, code of conduct, and whistleblowing policy.
• C. Board meeting minutes, the board policy manual, and past audit reports.
• D. Staff compensation, objective setting, and the performance evaluation policy and process.

Correct answer: C

Explanation

The correct answer is C because examining board meeting minutes, the board policy manual, and past audit reports provides insights into the governance processes and decision-making frameworks. Options A, B, and D, while important, do not directly reflect the governance evaluation for strategic and operational decisions as outlined in IIA guidance.