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The most significant benefit provided by the audit committee to the internal audit activity is
A. Protecting the independence of the internal audit activity from undue management influence.
B. Reviewing annual engagement work schedules and monitoring engagement results.
C. Approving engagement work schedules, scheduling, staffing, and meeting with the internal auditors as needed.
D. Reviewing copies of the procedures manuals for selected organizational operations and meeting with organizational officials to discuss them.
i am not in the profission of internal audit
Reviewing the organization's procedures and processing then select some operations for discussion with the concerned teams.
As far as i got this question the best explanation is
Reviewing copies of the procedures manuals for selected organizational operations and meeting with organizational officials to discuss them.
Audit of companeis and for life there should be an inventories are the most crucial for the purpose to meet up
The audit committee serves as a vital ally to the internal audit function by providing oversight, resources, independence, and strategic direction. This relationship enhances internal audit’s ability to identify and address risks, contribute to organizational accountability, and ensure effective governance, risk management, and control processes.
The most significant benefit provided by the audit committee to the internal audit activity is:
**A. Protecting the independence of the internal audit activity from undue management influence.**
This ensures that the internal audit function can operate objectively and without interference, which is crucial for its effectiveness and credibility.
The audit committee plays a crucial role in supporting and enhancing the effectiveness of the internal audit activity. Here are some of the important purposes it serves:
Oversight and Governance: The audit committee provides oversight of the internal audit function, ensuring it operates independently and effectively within the organization’s governance framework.
Strategic Alignment: By aligning internal audit activities with organizational goals, the committee helps ensure that audits focus on key risk areas and add value to the organization.
Resource Allocation: The committee can advocate for adequate resources and support for the internal audit function, ensuring that it has the tools and personnel needed to perform its duties effectively.
Communication Channel: The audit committee serves as a key communication link between internal auditors and the board of directors, facilitating transparency and ensuring that important findings and recommendations are addressed.
Performance Evaluation: The committee assesses the performance of the internal audit function, providing feedback and guidance to enhance its effectiveness and overall contribution to the organization.
I would focus more on doing and less on auditing. Eg. a Rapid Improvement events.
I believe there is no task below any manager so I would use the time planned for auditing to make changes there and then.
A. Protecting the independence of the internal audit activity from undue management influence.
The audit committee plays a key role in ensuring that internal auditors can perform their duties without interference or pressure from management.
I am assisting my HSEM in the Safety compliance audit from Consultant and Client side only
To be honest. I am not in the profission of internal audit
