Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The CEO asked the chief audit executive (CAE) to follow up on the corrective actions to be taken on the findings reported by an external

The CEO asked the chief audit executive (CAE) to follow up on the corrective actions to be taken on the findings reported by an external environmental audit agency. The internal audit activity had just completed an audit on the same subject prior to the external audit. Which of the following would be the most appropriate action for the CAE to take in this situation?

a. Give priority to the follow up of the internal audit engagement, as follow up on an external audit engagement is beyond the scope of the internal audit activity

b. Include the regulatory audit as part of the internal audit engagement follow up activity

c. Schedule follow up on the regulatory audit after consulting with the audit committee and obtaining their approval

d. Include the regulatory audit in the follow up internal audit engagement only if responsibility for the activity is included in the audit charter

Step by Step Solution

3.40 Rating (156 Votes )

There are 3 Steps involved in it

Step: 1

Solution Ans The CEO asked the chief audit executive CAE to follow up on the corrective actions to b... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fraud examination

Authors: Steve Albrecht, Chad Albrecht, Conan Albrecht, Mark zimbelma

4th edition

538470844, 978-0538470841

More Books

Students also viewed these Accounting questions

Question

Evaluate the limit, if it exists. (2 + h) 8 lim

Answered: 1 week ago

Question

8. How do epinephrine and cortisol enhance memory storage?

Answered: 1 week ago