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IIA-CIA-PART2 · Question #423

Which of the following is essential for ensuring that the internal audit activity's findings and recommendations receive adequate consideration?

The correct answer is B. Providing formal follow-up procedures to ensure that management complies with an action plan or. For internal audit findings and recommendations to be effectively implemented and to ensure that they receive adequate consideration, formal follow-up procedures are essential. According to IIA guidance, it is important that the internal audit activity not only reports the…

Communicating Results and Monitoring Progress

Question

Which of the following is essential for ensuring that the internal audit activity's findings and recommendations receive adequate consideration?

Options

  • AReporting results of audits with recommendations to management.
  • BProviding formal follow-up procedures to ensure that management complies with an action plan or
  • CReporting quarterly to management that the audit plan is focused on higher exposures of risk.
  • DDiscussing audit findings with independent auditors.

How the community answered

(39 responses)
  • B
    92% (36)
  • C
    5% (2)
  • D
    3% (1)

Explanation

For internal audit findings and recommendations to be effectively implemented and to ensure that they receive adequate consideration, formal follow-up procedures are essential. According to IIA guidance, it is important that the internal audit activity not only reports the results to management but also ensures that corrective actions are taken or that management consciously accepts the associated risks.

Topics

#follow-up procedures#management action plan#audit recommendations#monitoring progress

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