Which of the following statements about internal audit consulting engagements is true?

Internal auditors may provide consulting services relating to operations for which they had previous responsibilities, provided they do not currently have any operational responsibilities that would impair their objectivity. This scenario is possible under IIA guidelines as long as any potential conflicts of interest are managed, and auditors maintain their independence regarding the areas they are auditing.

IIA's International Standards for the Professional Practice of Internal Auditing, specifically standards on objectivity and independence in consulting roles.