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QUESTION 2 Internal audit will typically adopt a medium timeline for strategic planning purposes allowing the Chief Audit Executive (CAE) to balance assurance needs and resources within a defined budget envelope to provide reasonable assurance to audit committee and senior management. Short term or specific skills gaps can be bridged through recruitment, training or co-sourcing.   REQUIRED: Appraise the key risks that the Chief Auditing Executive (CAE) should consider in the development of the annual strategic audit plan whilst maintaining equal segregation of duties among the people based on the Internal Audit Charter.

QUESTION 2 Internal audit will typically adopt a medium timeline for strategic planning purposes allowing the Chief Audit Executive (CAE) to balance assurance needs and resources within a defined budget envelope to provide reasonable assurance to audit committee and senior management. Short term or specific skills gaps can be bridged through recruitment, training or co-sourcing.   REQUIRED: Appraise the key risks that the Chief Auditing Executive (CAE) should consider in the development of the annual strategic audit plan whilst maintaining equal segregation of duties among the people based on the Internal Audit Charter.

Auditing: A Risk Based-Approach to Conducting a Quality Audit
Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter14: Activities Required In Completing A Quality Audit
Section: Chapter Questions
Problem 94RSCQ
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QUESTION 2

Internal audit will typically adopt a medium timeline for strategic planning purposes allowing the Chief Audit Executive (CAE) to balance assurance needs and resources within a defined budget envelope to provide reasonable assurance to audit committee and senior management. Short term or specific skills gaps can be bridged through recruitment, training or co-sourcing.

 

REQUIRED:

  1. Appraise the key risks that the Chief Auditing Executive (CAE) should consider in the development of the annual strategic audit plan whilst maintaining equal segregation of duties among the people based on the Internal Audit Charter.
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