Given the Scarcity of Internal Audit Resources, a Chief Audit

question 312

Multiple Choice

Given the scarcity of internal audit resources, a chief audit executive (CAE) decides not to schedule a follow-up of audit recommendations when developing engagement work schedules. Why does the CAE's decision violate the Standards?

• A) It is not the CAE's responsibility to establish a process for a follow-up.
• B) Lack of resources is not a sufficient reason to forgo a follow-up.
• C) Follow-up actions should take priority over new engagements in scheduling.
• D) When resources are scarce, the follow-up can be incorporated into the next engagement.

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Definitions:

Religious Syncretism

Refers to the blending of two or more religious belief systems into a new system, or the incorporation of practices from another tradition into a religious tradition.

Tepeyac

A hill located in Mexico City, historically significant as the site where the Virgin Mary is believed to have appeared to Juan Diego in the apparition of Our Lady of Guadalupe.

All-Powerful

Possessing complete, unlimited, or omnipotent power, often used in the context of a deity or supreme being.

All-Knowing

An attribute often ascribed to a deity or supreme being, signifying possessing complete or infinite knowledge.