Certified Internal Auditor (CIA) Part 1: Business Acumen — Question 106

Which of the following statements is true regarding the internal audit activity’s quality assurance and improvement program (QAIP)?

Answer options

• A. Internal assessments must be performed by the chief audit executive.
• B. An internal assessment must be performed at least once every five years.
• C. It is permissible to share the results of the QAIP with the organization’s external auditors.
• D. Results of ongoing monitoring must be validated annually by an independent external assessor.

Correct answer:

Explanation

Option C is correct because it is permissible to share the QAIP results with external auditors to enhance the overall audit quality. Options A and B are incorrect as they misstate the requirements for internal assessments. Option D is also incorrect because while ongoing monitoring must be conducted, it does not necessarily require annual validation by an external assessor.