Certified Internal Auditor (CIA) Part 2: Practice of Internal Auditing — Question 70

According to the International Professional Practices Framework, which of the following statements is correct regarding the communication of audit results?
I. Summary reports may be issued separately from or in conjunction with the final report.
II. Interim reports may be written or oral.
III. Detailed reports should always be issued to the audit committee.
IV. Interim reports should be used to communicate information which requires immediate attention.

Answer options

• A. I and III only
• B. II and IV only
• C. I, II, and IV only
• D. I, II, III, and IV.

Correct answer: C

Explanation

The correct answer is C because statements I, II, and IV are accurate regarding audit communication practices, while statement III is incorrect as detailed reports do not always need to be issued to the audit committee. I allows for flexibility in report issuance, II acknowledges different formats for interim reports, and IV emphasizes the importance of timely communication for urgent matters.