An Organization's External Auditor Has Prepared a List of Risks

question 290

Multiple Choice

An organization's external auditor has prepared a list of risks and issues and has recommended to senior management that the internal audit activity focus on these items. Senior management has forwarded the list to the chief audit executive (CAE) . The CAE should:

• A) Incorporate the external auditor's requirements into the internal audit plan.
• B) Ignore the external auditor's requirements because they are outside of the internal audit activity's planned scope of work.
• C) Consider the issues raised by the external auditor for possible inclusion in the planned scope of work.
• D) Report the risks and issues to the audit committee for possible future attention.

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Definitions:

Belize

is a country on the eastern coast of Central America, known for its diverse ecosystems, barrier reef, and Mayan historical sites.

Honduras

A country in Central America known for its rich natural resources, including rainforests, reefs, and Mayan ruins.

Cosmopolitan Character

The quality of being worldly and open to a variety of cultures, ideas, and experiences.

Teotihuacán

An ancient Mesoamerican city located in the Basin of Mexico, known for its pyramids and complex urban layout, significant in pre-Columbian history.