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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 352 - IIA-CIA-Part1 discussion

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During an assurance engagement an internal auditor discovered that risk limits risk limit were set for a new market expansion project Management of the area under review was eager to comply and submitted a potential risk limit value for the auditor's review and approval. Which of the following would be an appropriate course of action for the auditor to take?

A.
Review the submission and if no further remarks exist approve the risk limits
Answers
A.
Review the submission and if no further remarks exist approve the risk limits
B.
Provide advice if needed and ask management of the area under review to forward to senior management and the board for approval
Answers
B.
Provide advice if needed and ask management of the area under review to forward to senior management and the board for approval
C.
Develop risk limit calculation criteria and ask management of the area under review to resubmit the values.
Answers
C.
Develop risk limit calculation criteria and ask management of the area under review to resubmit the values.
D.
Avoid providing any advice or review until the audit report is issued
Answers
D.
Avoid providing any advice or review until the audit report is issued
Suggested answer: A
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asked 18/09/2024
Michael Serda
36 questions
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