The chief audit executive (CAE) has assigned an internal auditor to an upcoming engagement. Which of the following requirements would most likely indicate that the Internal auditor was assigned to an assurance engagement?
A.
The assigned internal auditor must determine the objectives, scope, and techniques of the engagement.
B.
The CAE must personally obtain the needed skills, knowledge, or other competencies if the internal auditor does not have them.
C.
The assigned internal auditor must not assume management responsibilities while performing the engagement.
D.
The assigned internal auditor must maintain objectivity while performing the engagement
Assurance engagements require internal auditors to maintain objectivity and avoid conflicts of interest.
Role of Internal Auditors in Assurance Engagements:
They must remain independent and not take on roles that could compromise their impartiality.
Options Analysis:
Option A: Determining the objectives, scope, and techniques can be part of their role but does not define an assurance engagement specifically.
Option B: The CAE obtaining skills or competencies personally is not a standard requirement for assurance engagements.
Option C: Not assuming management responsibilities is crucial to maintain independence and objectivity during assurance engagements.
Option D: While maintaining objectivity is important, it is not the distinguishing feature of being assigned to an assurance engagement.
Conclusion:
The key requirement indicating an internal auditor was assigned to an assurance engagement is that they must not assume management responsibilities during the engagement.
Internal Audit Standards and Practice Guides
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