Is it true that audit program records are owned by the Internal Audit Department?

The assertion that audit program records are owned by the Internal Audit Department aligns with the typical organizational structure and responsibilities associated with auditing processes. The Internal Audit Department is charged with the function of planning, conducting, and overseeing audits, which includes maintaining the records related to these audits. This ownership encompasses responsibility for ensuring that records are created, accurately maintained, and following the policies and procedures established by the organization.

In organizations, internal audit records provide transparency and accountability and are essential for tracking compliance with policies and procedures, as well as for facilitating follow-ups on audit findings and recommendations. This consistency and organization aid in fulfilling the responsibilities of the Internal Audit Department, making it understandable why their ownership of these records is affirmed.

The alternative answers do not capture the standard practice regarding ownership of audit records. While there may be circumstances where audit records are only relevant during the audit or depend on management specifications, those scenarios do not generally define ownership. Records are maintained and managed by the Internal Audit Department both during and after audits, promoting a continuous improvement cycle.