An internal audit charter describes the mission and scope of the internal audit activity (IAA), responsibilities of the IAA, accountability of the chief audit executive, independence of the IAA, and standards followed by the IAA. Which of the following also should be included in the charter?

Which of the following must be in existence as a precondition to developing an effective system of internal controls?

Which of the following is not an objective of internal control?

According to IIA guidance, which of the following scenarios demonstrates an internal auditor exercising due professional care?
When auditing investments, the auditor identified instruments with which he was unfamiliar.

Which of the following is an activity that an internal auditor must not perform?