It is important for a chief audit executive to seek formal approval from the board regarding an internal audit charter so that:
A) The effectiveness of the internal audit activity can be measured.
B) The status of the internal audit activity can be more clearly established.
C) There is assurance that all internal audit activities will be completed.
D) Improvements can be implemented in internal audit processes.

Question

Quizplus · Accepted Answer

Formal approval from the board helps establish the authority, independence, and status of the internal audit activity within the organization.

It Is Important for a Chief Audit Executive to Seek