Exam IIA-CIA-Part1 Topic 3 Question 401 Discussion

Actual exam question for IIA's IIA-CIA-Part1 exam
Question #: 401
Topic #: 3

In publicly held companies, management often requires the internal audit activity's involvement with quarterly financial statements that are made public and used internally. Which of the following is generally not a reason for such involvement?

A. Management may be concerned about its reputation in the financial markets. B. The Standards state that internal auditors should be involved with reviewing quarterly financial statements. C. Management may be concerned about potential penalties that could occur if quarterly financial statements are misstated. D. Management may perceive that having quarterly financial information examined by the internal auditors enhances its value for internal decision making.

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