Attribute Standards

Question 1

List the four primary themes of Attribute Standards.

Answer 1

Purpose, Authority, and Responsibility.
Independence and Objectivity.
Proficiency and Due Professional Care.
Quality Assurance and Improvement Program.

Question 2

Define “Independence and Objectivity (Standard 1100)”.

Answer 2

“The internal audit activity must be independent, and internal auditors must be objective in performing their work.”

Question 3

Define “Purpose, Authority, and Responsibility (Standard 1000)”.

Answer 3

“The purpose, authority, and responsibility of the internal audit activity must be formally defined in an internal audit charter, consistent with the Definition of Internal Auditing, the Code of Ethics and the Standards. The chief audit executive must periodically review the internal audit charter and present it to senior management and the board for approval.”

Question 4

Define “Proficiency and Due Professional Care (Standard 1200)”.

Answer 4

“Engagements must be performed with proficiency and due professional care.”

Question 5

Define “Quality Assurance and Improvement Program (Standard 1300)”.

Answer 5

“The chief audit executive must develop and maintain a quality assurance and improvement program that covers all aspects of the internal audit activity.”