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A new chief audit executive wants to develop a formal internal control framework for her organization. She uses globally accepted frameworks as a guide. Which of the following would she likely find critical in creating the new framework for her organization?
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Which of the following statements is true regarding risk management frameworks?
A global manufacturing company has three regional offices. The chief audit executive (CAE) is concerned about the cost of an upcoming external quality assessment of the internal audit activity. The last external assessment was performed six years ago. Recently, the internal audit staff at one of the regional offices performed an internal assessment. To ensure conformance with the Standards, what is the most appropriate action for the CAE to take?
Which of the following actions by an organization's board would potentially impair the internal audit activity's independence?
Which of the following actions does a competency assessment tool help the chief audit executive perform?
How can an Internal audit activity contribute to Its organization's risk assessment process?

Question 272 - IIA-CIA-Part1 discussion

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Following a quality assurance review of a small internal audit activity, the external reviewer and the chief audit executive (CAE) cannot agree on the importance of several deficiencies noted during the review. Which of the following would be the most appropriate next step for the reviewer to take?

A.
Remove the areas of disagreement from the scope of the engagement and seek informal compromises with the CAE.
Answers
A.
Remove the areas of disagreement from the scope of the engagement and seek informal compromises with the CAE.
B.
Issue the report to senior management, noting the deficiencies for immediate resolution.
Answers
B.
Issue the report to senior management, noting the deficiencies for immediate resolution.
C.
Issue the report, noting the deficiencies with comments that address the areas of disagreement.
Answers
C.
Issue the report, noting the deficiencies with comments that address the areas of disagreement.
D.
Request arbitration from the audit committee to resolve discrepancies prior to issuing the final report
Answers
D.
Request arbitration from the audit committee to resolve discrepancies prior to issuing the final report
Suggested answer: D
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asked 18/09/2024
Franko Salajcik
36 questions
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