Discover the primary reason internal auditors conduct interim communications with management during an audit. Gain insights for the IIA-CIA-Part2 certification exam and enhance your internal audit knowledge.
Table of Contents
Question
Which of the following is the primary reason for internal auditors to conduct interim communications with management of the area under review?
A. To demonstrate good project oversight.
B. To provide timely discussion of results.
C. To demonstrate internal auditor proficiency.
D. To follow up on previously requested information.
Answer
B. To provide timely discussion of results.
Explanation
The primary reason for internal auditors to conduct interim communications with management of the area under review is to provide timely discussion of results. Interim communications allow internal auditors to share their findings, observations, and recommendations with management throughout the audit process, rather than waiting until the final audit report is issued.
Timely discussion of results offers several benefits:
- Early identification and resolution of issues: By communicating findings promptly, internal auditors enable management to address problems or concerns as they arise, reducing the risk of more significant issues developing.
- Improved collaboration and understanding: Interim communications foster a collaborative relationship between internal auditors and management, promoting open dialogue and a better understanding of the audit process and its objectives.
- Enhanced audit efficiency: Regular communication helps ensure that the audit progresses smoothly, as management can provide additional information or clarification as needed, reducing the likelihood of misunderstandings or delays.
- Opportunity for management response: Interim communications give management the chance to respond to findings and provide their perspective, which can be incorporated into the final audit report.
While demonstrating good project oversight (A), internal auditor proficiency (C), and following up on previously requested information (D) are important aspects of the audit process, they are not the primary reasons for conducting interim communications with management.
In summary, the main purpose of interim communications is to provide timely discussion of results, enabling early issue resolution, improved collaboration, enhanced audit efficiency, and the opportunity for management to respond to findings throughout the audit process.
IIA-CIA-Part2 certification exam practice question and answer (Q&A) dump with detail explanation and reference available free, helpful to pass the IIA-CIA-Part2 exam and earn IIA-CIA-Part2 certification.