chapter 1 Flashcards
1
Q
The 3 components of the internal audit value proposition are
A
- assurance
- insight
- objectivity
2
Q
Assurance =
A
governance, risk & control
3
Q
expressed in broad terms, what the company wants to achieve today
A
mission statment
4
Q
conveys what the organization aspires to achieve in the future
A
vision statement
5
Q
four categories of business objectives
A
-strategic
-operations
- reporting
- compliance
6
Q
the standards for professional practice of internal auditing was approved in what year?
A
1978
7
Q
the internal audit professions global voice, standard setter, and resource for resource for professional development and certification
A
IIA
