IIA IIA-CIA-Part2 Exam With Confidence Using Practice Dumps

Collaboration with Compliance Teams: Internal auditors often collaborate with internal compliance teams to leverage their work. This allows auditors to gain insights and expand their audit coverage efficiently.

IIA Standards: According to the Institute of Internal Auditors (IIA), internal auditors can rely on the work of other assurance providers, including internal compliance teams, as long as the auditors assess the adequacy and competency of the compliance team's work.

Efficiency in Audit Coverage: By relying on internal compliance teams, internal auditors can ensure comprehensive coverage of the organization without significantly increasing direct audit hours, thus enhancing efficiency.

IIA Standard 2050 - Coordination and Reliance.

If management accepts the issue identified by the internal audit team but takes no remedial action, the next step for the chief audit executive (CAE) is to escalate the issue to senior management. This ensures that senior management is aware of the unresolved significant issue and can take appropriate action to address it. Escalation is a critical step in ensuring that risks are managed effectively and that necessary corrective actions are implemented.

The Institute of Internal Auditors (IIA) Standard 2600