The internal audit profession adheres exclusively to standards set by the Public Company Accounting Oversight Board.

Question

Quizplus · Accepted Answer

The internal audit profession adheres to standards set by the Institute of Internal Auditors (IIA), not the Public Company Accounting Oversight Board (PCAOB). The PCAOB is responsible for overseeing audits of public companies to protect investors and the public interest.

The Internal Audit Profession Adheres Exclusively to Standards Set by the Public