Question

Which of the following are "mandatory guidance" in the IIA's IPPF?

i. practice advisories
ii. the code of ethics
iii. the definition of internal auditing
iv. the standards.
a. i, ii, and iv
b. ii and iv
c. ii, iii and iv
d. i, ii, iii and iv

Answer 1

The mandatory guidance in IIA's IPPF includes the Code of Ethics, the Definition of Internal Auditing, and the Standards, making option c (ii, iii, and iv) the correct answer.

Step-by-step explanation:

The mandatory guidance in the Institute of Internal Auditors' (IIA) International Professional Practices Framework (IPPF) consists of the Code of Ethics, the Definition of Internal Auditing, and the Standards. Practice advisories are considered strongly recommended guidance but not mandatory. Therefore, the correct answer to the question, "Which of the following are 'mandatory guidance' in the IIA's IPPF?" is c. ii, iii, and iv, which encompass the Code of Ethics, the Definition of Internal Auditing, and the Standards.

Practice advisories: These provide detailed guidance on specific areas of internal auditing practice. They help auditors understand and apply the Standards and Code of Ethics to their work.The Code of Ethics: This sets forth the principles and rules that govern the ethical conduct of internal auditors. It outlines expectations for integrity, objectivity, confidentiality, and professional competence.The Standards: These define the nature of internal auditing and provide a framework for performing and promoting the profession. They include attribute standards, performance standards, and implementation standards.