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Question 294 - IIA-CIA-Part2 discussion

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During follow-up, the chief audit executive (CAE) is having a discussion with management about the internal audit team's recommendations related to a significant issue Management accepted the issue but took no remedial action What is the next step for the CAE?

A.
The CAE should reassess and validate the risk tolerance policy
Answers
A.
The CAE should reassess and validate the risk tolerance policy
B.
The CAE should escalate the issue to senior management .
Answers
B.
The CAE should escalate the issue to senior management .
C.
The CAE should reiterate the internal audit team's recommendations to management .
Answers
C.
The CAE should reiterate the internal audit team's recommendations to management .
D.
The CAE should grant management more time to implement the recommendation and check the status of the issue during the next scheduled follow-up.
Answers
D.
The CAE should grant management more time to implement the recommendation and check the status of the issue during the next scheduled follow-up.
Suggested answer: B

Explanation:

If management accepts the issue identified by the internal audit team but takes no remedial action, the next step for the chief audit executive (CAE) is to escalate the issue to senior management. This ensures that senior management is aware of the unresolved significant issue and can take appropriate action to address it. Escalation is a critical step in ensuring that risks are managed effectively and that necessary corrective actions are implemented.

The Institute of Internal Auditors (IIA) Standard 2600

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asked 18/09/2024
Alan How
35 questions
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