Which the following activities should be performed by the internal audit activity to facilitate an effective relationship with the audit committee? 1. Periodically report about the accounting standards followed by the organization. 2. Provide assurance to the audit committee that its charter, activities, and processes are appropriate. 3. Ensure that the role and activities of the internal audit activity are clearly understood and responsive to the needs of the audit committee. 4. Maintain open and effective communications with the audit committee.
A) 1 and 2 only
B) 3 and 4 only
C) 1, 3, and 4 only
D) 2, 3, and 4 only

Question

Quizplus · Accepted Answer

The internal audit activity should ensure its role is understood and responsive to the audit committee's needs, maintain open communication, and provide assurance about its charter and processes. Reporting on accounting standards is not typically within the internal audit's scope for the audit committee.

Which the Following Activities Should Be Performed by the Internal