CIA Part 1 - Q23

23. According to the Standards, the internal audit activity’s goals should specify

a. Policies and procedures to guide the internal audit staff.

b. Engagement work schedules and activities to be reviewed.

c. Measurement criteria and target dates for completion.

d. Staffing plans and financial budgets.

23. Solution: c

a. Incorrect. Goals are statements of activities that are to be accomplished. Policies and procedures are the means in which the goals are achieved.

b. Incorrect. Goals are statements of activities that are to be accomplished. Engagement work schedules are a means to achieve goals.

c. Correct. The goals of the IAA should be capable of being accomplished within specified operating plans and budgets and, to the extent possible, should be measurable. They should be accompanied by measurement criteria and targeted dates of accomplishment.

d. Incorrect. Staffing plans and financial budgets are a means of accomplishing specified goals.