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Comprehensive Overview of Internal Audit Activity and Governance Structure

This document outlines the key components of the Internal Audit (IA) Activity in relation to the Audit Committee (AC) processes. It discusses the academic backgrounds and career paths of IA staff and their impact on the effectiveness of the audit function. Furthermore, it details the approval processes for the IA Charter, highlighting the roles of various stakeholders in governance. It also includes insights on professional standards and the importance of quick-response strategies within the in-house audit framework. Access to private meetings and the importance of quality control through Quality Assurance Reviews (QARs) are also addressed.

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Comprehensive Overview of Internal Audit Activity and Governance Structure

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  1. BA592T053IA2of2071805

  2. IAs, the IA Activity, and the AC(2 of 2)

  3. IAs: Academic, experience, backgrounds?

  4. Career path?

  5. IA Activity: Staffed: as a whole

  6. Report to: AC!

  7. Private mtgs,Access!

  8. Adv. of in-house:quick response!

  9. Prof. Stds:ISPPIA

  10. CIA:Exam, 4 parts

  11. ACs:IIA recs having ACs!

  12. AC.:approve IA Charter

  13. Charter: access in entity

  14. IA CharterandAC Charter(who approves each?)

  15. QC: QARs X

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