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A Chief Audit Executive (CAE) Is Determining Which Engagements to Include

question 187

Multiple Choice

A chief audit executive (CAE) is determining which engagements to include on the annual audit plan. She would like to consider the organization's attitude toward risk and the degree of difficulty in achieving objectives. Which of the following resources should the CAE consult?


Definitions:

Competence

Competence is the ability to perform a task or role successfully, demonstrating a required level of skill, knowledge, and judgment.

Discomfort

A feeling of physical or psychological unease or distress.

External Factors

External factors refer to the external environment's influences on a business or situation, including economic conditions, societal trends, and governmental policies.

Mutual Understanding

A state of knowledge or awareness shared between two or more parties regarding each other's feelings, thoughts, and communications.

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