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Question 350 - IIA-CIA-Part2 discussion

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During follow-up. the internal auditor discovered that operational management did not implement effective actions to address a significant control breach If the issue is left unresolved it may result in regulatory sanctions and damage the organization's reputation What is the most appropriate next step for the chief audit executive to lake?

A.
Report the matter to the board
Answers
A.
Report the matter to the board
B.
Implement the recommended control to address the exposure
Answers
B.
Implement the recommended control to address the exposure
C.
Discuss the matter with senior management
Answers
C.
Discuss the matter with senior management
D.
Ask the regulatory agency to persuade management to address the issue
Answers
D.
Ask the regulatory agency to persuade management to address the issue
Suggested answer: C

Explanation:

If operational management has not implemented effective actions to address a significant control breach, the most appropriate next step for the chief audit executive is to discuss the matter with senior management. This step involves escalating the issue to a higher level of authority to ensure that the risks associated with the control breach are properly understood and addressed. If senior management fails to take appropriate action, the CAE may then escalate the issue to the board.

Reference: IIA Standard 2500: Monitoring Progress IIA Practice Guide: Auditing Organizational Governance

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asked 18/09/2024
Demilson Mantegazine
37 questions
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