IIA
IIA-CIA-PART1 · Question #1
IIA-CIA-PART1 Question #1: Real Exam Question with Answer & Explanation
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Question
In a small company with a small budget, the board and senior management asked the chief audit executive (CAE) to develop specific controls prompted by a new regulatory requirement affecting a specific process. The CAE was also directed to report functionally to senior management. An audit engagement on this process was already set in the internal audit plan. Which of the following represents an impairment to the internal audit activity's independence?
Options
- AThe development of controls by the CAE.
- BThe audit engagement regarding this process.
- CThe functional reporting of the CAE to senior management.
- DThe small budget.
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