Certified Internal Auditor (CIA) Part 2: Practice of Internal Auditing — Question 250

An internal audit team was conducting an assurance engagement to review segregation of duties in the purchasing function. The internal auditors reviewed a sample of purchase orders from the past two years and discovered that 2 percent were signed by employees who were operating in a designated acting capacity due to employee absences. According to IIA guidance, which of the following attributes of information would most likely assist the auditors in deciding whether to report this finding?

Answer options

• A. Sufficiency.
• B. Reliability.
• C. Relevance.
• D. Usefulness.

Correct answer: C

Explanation

The correct answer is C, Relevance, as it pertains to the importance and applicability of the information to the audit's objectives. While sufficiency, reliability, and usefulness are important attributes, they do not directly address the necessity of reporting a finding based on its significance to the audit's findings regarding segregation of duties.