program requires ongoing monitoring to evaluate internal audit activity's efficiency and effectiveness?

Question

Options

• ANeither internal nor external assessment
• Binternal assessment
• CBoth internal and external assessment
• DExternal assessment

• A
  2% (1)
• B
  79% (38)
• C
  6% (3)
• D
  13% (6)

Explanation

Ongoing monitoring of internal audit activity efficiency and effectiveness falls under internal assessment (IIA Standard 1311) because it is a continuous, day-to-day process conducted by internal audit management itself - tracking performance metrics, reviewing workpapers, and supervising staff in real time. External assessments (D) are periodic reviews conducted by qualified parties outside the organization at least once every five years - they are not ongoing by design, making D incorrect. Option C (both) is wrong because external assessors don't perform continuous monitoring; they conduct point-in-time evaluations. Option A (neither) contradicts the IIA's Quality Assurance and Improvement Program (QAIP) standards, which explicitly require ongoing monitoring as part of internal assessments.

Memory tip: Think of "ongoing = inside" - ongoing monitoring never stops, so it must be handled internally, just like how a manager continuously watches their own team rather than calling in an outside consultant every day.

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