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An engagement supervisor notes that an internal auditor usually documents and submits draft audit reports for review without giving the process owners the opportunity to state their position on the issues raised. How should the engagement supervisor respond?
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Question 249 - IIA-CIA-Part1 discussion

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An internal audit team analyzed the organization's value-at-risk model during an assurance engagement and suggested several useful improvements. Management was impressed by the internal audit team's work and requested additional actions. Which of the following requested actions would impact internal audit independence most severely if fulfilled?

A.
Assess the effectiveness of the model at least semi-annually.
Answers
A.
Assess the effectiveness of the model at least semi-annually.
B.
Modify model inputs and suggest courses of action based on outcomes.
Answers
B.
Modify model inputs and suggest courses of action based on outcomes.
C.
Employ acquired experience to test other models used by the company.
Answers
C.
Employ acquired experience to test other models used by the company.
D.
Validate whether model outputs serve the purpose stated by the model.
Answers
D.
Validate whether model outputs serve the purpose stated by the model.
Suggested answer: A
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asked 18/09/2024
Jialu Wang
36 questions
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