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Question 752 - IIA-CIA-Part1 discussion

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An organization is in the process of hiring a new chief audit executive (CAE). Which of the following can the potential candidates expect to be a part of the recruiting process or in place when the CAE is hired?

A.

There are checks to determine the existence of any potential conflict of interest.

Answers
A.

There are checks to determine the existence of any potential conflict of interest.

B.

The CAE reports functionally to the highest level of management, the CEO.

Answers
B.

The CAE reports functionally to the highest level of management, the CEO.

C.

The CAE's compensation depends on the performance of the organizational departments.

Answers
C.

The CAE's compensation depends on the performance of the organizational departments.

D.

Hiring and termination of the CAE is dependent on the decision of senior executives.

Answers
D.

Hiring and termination of the CAE is dependent on the decision of senior executives.

Suggested answer: A

Explanation:

IIA guidance emphasizes conflict of interest checks in the hiring process for CAEs to ensure the integrity and independence of the internal audit function. Functional reporting to the board or similar oversight is also a standard recommendation but not a hiring precondition.

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asked 03/11/2024
Kinzonji Tavares
42 questions
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