Answer (C) is correct . The independence of the internal audit activity is enhanced when the board concurs in the appointment or removal of the CAE (PA 1110-1), but the length of the CAE’s employment is less significant than defining the purpose, authority, and responsibility of the internal audit activity (Standard 1000).
Answer (A) is incorrect because The charter establishes the internal auditing activity’s position within the organization; authorizes access to records, personnel, and physical properties; and defines the scope of internal audit activities (PA 1000-1).
Answer (B) is incorrect because The charter establishes the internal auditing activity’s position within the organization; authorizes access to records, personnel, and physical properties; and defines the scope of internal audit activities (PA 1000-1).
Answer (D) is incorrect because The charter establishes the internal audit activity’s position within the organization; authorizes access to records, personnel, and physical properties; and defines the scope of internal audit activities (PA 1000-1).
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