The Chief Audit Executive (CAE) Manages a Large Internal Audit

question 130

Multiple Choice

The chief audit executive (CAE) manages a large internal audit activity (IAA) reporting functionally to the audit committee and administratively to the chief risk officer. During the CAE's recent unplanned medical leave, several internal audit reports were completed and waiting for CAE approval, however, no formal delegation of authority was in place to anticipate this situation. In order to preserve the independence of the IAA, which of the following would be the most appropriate individual to review and approve these reports during the CAE's absence?

• A) External auditor.
• B) Chief risk officer.
• C) Engagement lead auditor.
• D) Audit committee chair.

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Definitions:

Great Salt Lake Valley

The valley in northern Utah, home to the Great Salt Lake, settled by Mormon pioneers in the mid-19th century.

Reform Movement

A collective effort aimed at making changes in society through improvements in legal, social, or political institutions, often driven by public concern for moral or efficient governance.

Temperance Movement

A social movement against the consumption of alcoholic beverages, prominent in the 19th and early 20th centuries, leading to the Prohibition era in the United States.

Antiprostitution Movement

Social and legal campaigns aimed at prohibiting or reducing prostitution based on moral, health, or social concerns.