CIA Part 1 - Q1

CIA Part 1 - Q1

1. Which of the following is not true with regard to the internal audit charter?

a. It defines the authorities and responsibilities for the internal audit activity.

b. It specifies the minimum resources needed for the internal audit activity.

c. It provides a basis for evaluating the internal audit activity.

d. It should be approved by senior management and the board.

b. Correct. The internal audit manual and annual audit plan help in determining the resource requirements.