IIA-CIA-PART2 · Question #145
An organization's finance manager plans to implement a state-of-the-art management system to better manage the organization's receivables. The finance manager consulted the chief audit executive…
The correct answer is C. Discuss the concerns with the finance manager and work together to agree on the engagement. The CAE should discuss the concerns with the finance manager and work together to agree on the engagement objectives. This collaborative approach ensures that the engagement objectives are aligned with the finance manager's needs and expectations, and it allows the CAE to…
Question
An organization's finance manager plans to implement a state-of-the-art management system to better manage the organization's receivables. The finance manager consulted the chief audit executive (CAE) and asked for her assistance in determining whether the organization is able to accommodate this system. How would the CAE proceed to determine the objectives of this engagement
Options
- AAsk the CEO to determine the scope and objectives of the engagement
- BRequest that the board disclose its concerns over governance for inclusion in the engagement
- CDiscuss the concerns with the finance manager and work together to agree on the engagement
- DReview previous audit reports from the area and develop engagement objectives to address the
How the community answered
(28 responses)- A4% (1)
- B7% (2)
- C75% (21)
- D14% (4)
Explanation
The CAE should discuss the concerns with the finance manager and work together to agree on the engagement objectives. This collaborative approach ensures that the engagement objectives are aligned with the finance manager's needs and expectations, and it allows the CAE to provide relevant and tailored assistance regarding the new management system for managing
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