In an internal audit charter, which of the following statements regarding the chief audit executive (CAE) would be most directly related to describing the responsibilities of the internal audit activity*?
A.
The CAE shall report functionally to the board and administratively to the chief financial officer
B.
The CAE and the Internal audit activity shall have full access to any and all records and personnel of the organization that are relevant to audit engagements
C.
The CAE and the internal audit activity shall be independent and objective in performing their work.
D.
The CAE shall report periodically on the performance of the internal audit activity relative to its plan
In an internal audit charter, the statement most directly related to describing the responsibilities of the internal audit activity is that the Chief Audit Executive (CAE) shall report periodically on the performance of the internal audit activity relative to its plan. This statement explicitly outlines a fundamental responsibility of the CAE and the audit activity, focusing on accountability and performance measurement against the planned objectives.
IIA standards related to the roles and responsibilities included in the internal audit charter, which typically define the reporting obligations of the CAE as a reflection of the internal audit activity’s duties and performance.
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