Question 16 (2 points) In order for an internal audit function to state that it conforms with the International Standards for the Professional Practice of Internal Auditing", the function must do which of the following? Report on internal self assessments monthly with a formal report to the board at least every five years. Report on all internal assessments and external assessments annually. Report on all internal assessments at least monthly, and an external assessment at least annually. Report on ongoing internal assessments and periodic self assessments at least annually, and an external assessment at least every five years