Which statement most accurately describes how criteria are established for use by internal auditors in determining whether goals and objectives have been accomplished?
A.
Management is responsible for establishing the criteria.
B.
Internal auditors should use professional standards or government regulations to establish the criteria.
C.
The industry in which a company operates establishes criteria for each member company through benchmarks and best practices for that industry.
D.
Appropriate accounting or auditing standards, including international standards, should be used as the criteria.
Performance Standards 2210.A3 – Adequate criteria are needed to evaluate governance, risk management, and controls. Internal auditors must ascertain the extent to which "management and/or the board has established adequate criteria to determine whether objectives and goals have been accomplished". If adequate, internal auditors must use such criteria in their evaluation. If inadequate, internal auditors must identify appropriate evaluation criteria through discussion with management and/or the board.
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