According to the IIA Standards, the authority of the internal auditing department is limited to that granted by:
A)senior management and the Internal Auditing Standards.
B)the board of directors and the financial controller.
C)the audit committee and the chief financial officer.
D)management and the board of directors.

Question

Quizplus · Accepted Answer

The Institute of Internal Auditors (IIA) Standards state that the authority of the internal auditing department is derived from management and the board of directors. This is because the internal audit function is established by management and its responsibilities and scope are approved by the board of directors, ensuring it operates with independence and objectivity.

According to the IIA Standards, the Authority of the Internal