Answer (A) is correct . The internal audit activity evaluates the controls encompassing governance, operations, and information systems. This evaluation includes the effectiveness and efficiency of operations (Standard 2120.A1). Moreover, the internal auditors must “ascertain the extent to which management has established adequate criteria to determine whether objectives and goals have been accomplished” (Standard 2210.A3).
Answer (B) is incorrect because Verifying existence relates to the safeguarding of assets.
Answer (C) is incorrect because The reliability of operating information concerns the reliability and integrity of information.
Answer (D) is incorrect because The accuracy of asset valuation concerns the reliability and integrity of information.
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