Revised Philippine Internal Audit Manual Quiz
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Questions and Answers

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?

  • 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?

  • 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?

    <p>Adopting appropriate indicators and implementing a rigorous performance measurement regime</p> Signup and view all the answers

    What does the text emphasize as a means of judging internal audit's own performance and accountability?

    <p>Measuring performance</p> Signup and view all the answers

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