Certified Internal Auditor (CIA) Part 2: Practice of Internal Auditing — Question 160

According to IIA guidance, when would an interim report typically be produced?

Answer options

• A. During a standard audit engagement when management wants to address an issue before the final report is drafted.
• B. Following each workshop conducted during a consulting engagement.
• C. During lengthy audit engagements involving several organizational units.
• D. Following management's update for actions taken on outstanding recommendations.

Correct answer: C

Explanation

The correct answer is C, as interim reports are often necessary during lengthy audits that cover multiple units to provide timely updates. Option A is incorrect because interim reports are not solely for management issues before the final report. Option B is not correct because workshops do not typically necessitate interim reports. Option D is also wrong because interim reports are not produced solely based on management updates.