IIA-CIA-PART2 · Question #66
Which of the following is the most important concept to be included in a consulting engagement agreement?
The correct answer is A. Define the duties and responsibilities needed from management to perform the engagement. In a consulting engagement agreement, it is crucial to clearly define the duties and responsibilities needed from management. This ensures that both the internal audit team and the management are aligned on their roles and what is expected from each party. Clear delineation of…
Question
Which of the following is the most important concept to be included in a consulting engagement agreement?
Options
- ADefine the duties and responsibilities needed from management to perform the engagement.
- BDisclose the fact that auditors who perform the work may not be subject matter experts in the topic
- CClarify that matters discovered during the engagement may also be reported to senior
- DDisclose the fact that follow-up reviews may be conducted to ensure that recommendations are
How the community answered
(43 responses)- A88% (38)
- B2% (1)
- C2% (1)
- D7% (3)
Explanation
In a consulting engagement agreement, it is crucial to clearly define the duties and responsibilities needed from management. This ensures that both the internal audit team and the management are aligned on their roles and what is expected from each party. Clear delineation of responsibilities helps prevent misunderstandings and sets a solid foundation for the engagement's success.
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