Certified Internal Auditor (CIA) Part 1: Business Acumen — Question 75

Which of the following is likely to define the purpose, authority, and responsibility of the internal audit activity?

1. The internal audit activity vision statement.
2. The internal audit charter.
3. The internal audit policy statement.
4. The internal audit universe.

Answer options

Correct answer: D

Explanation

The internal audit charter is essential as it formally establishes the purpose, authority, and responsibilities of the internal audit activity, while the internal audit policy statement and internal audit universe provide further context and guidelines. Options A and B do not include all necessary documents, and option C excludes the internal audit universe, which also plays a significant role in defining the scope of the audit activities.