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Questions and Answers
Who approves the performance indicators used for internal audit performance evaluation?
Who approves the performance indicators used for internal audit performance evaluation?
- The organization's board of directors
- DS/HoA or GB/AuditCom (correct)
- The internal audit manager
- The regulatory authorities
Who is responsible for periodically reviewing the performance of the internal audit?
Who is responsible for periodically reviewing the performance of the internal audit?
- DS/HoA or GB/AuditCom (correct)
- The internal audit team
- The organization's CEO
- The external auditors
What is the purpose of periodically assessing performance and addressing opportunities for improvement in internal audit?
What is the purpose of periodically assessing performance and addressing opportunities for improvement in internal audit?
- Meet regulatory requirements
- Maximize the efficiency and effectiveness of the internal audit function (correct)
- Increase the workload of the internal audit team
- Justify additional funding for the internal audit
What is the responsibility of internal audit in demonstrating its role within the organization?
What is the responsibility of internal audit in demonstrating its role within the organization?
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What does the text emphasize as a means of judging internal audit's own performance and accountability?
What does the text emphasize as a means of judging internal audit's own performance and accountability?
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