Which of the Following Best Ensures the Independence of the Internal

question 397

Multiple Choice

Which of the following best ensures the independence of the internal audit activity? 1. The CEO and audit committee review and endorse any changes to the approved audit plan on an annual basis. 2. The audit committee reviews the performance of the chief audit executive (CAE) periodically. 3. The internal audit charter requires the CAE to report functionally to the audit committee.

• A) 3 only
• B) 1 and 2 only
• C) 2 and 3 only
• D) 1, 2, and 3

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Definitions:

Other Cultures

The customs, traditions, and values of societies or groups different from one's own, underscoring the importance of cultural diversity and understanding.

Hyper-norms

Fundamental principles that transcend cultural and individual differences, often seen as universal norms of behavior.

Human Dignity

The intrinsic worth and respect owed to every individual, recognizing their inherent value and rights.

Basic Rights

Fundamental entitlements and freedoms that individuals possess, which are often upheld and protected by legal systems.