The chief audit executive of an international organization is planning an audit of the treasury function located at the organization's headquarters. The current internal audit team at headquarters…

Question

Options

• AOutsource the engagement 10 tie organization's external auditor who has expertise in the area of
• BHire additional internal auditors who have expertise in the area of financial markets.
• CInvite a guest auditor from one of the organization's affiliates who has expertise m the area of
• DLimit the scope of the engagement to the knowledge and skills possessed by the internal audit

• A
  10% (5)
• B
  2% (1)
• C
  84% (42)
• D
  4% (2)

Explanation

Given the time constraint and the need for specialized knowledge in financial markets, inviting a guest auditor from one of the organization's affiliates who has the required expertise is the most appropriate solution. This approach leverages existing internal resources with the necessary skills, which can be more efficient and cost-effective than hiring new staff or outsourcing the engagement. Additionally, it facilitates knowledge sharing and can help build internal audit capacity for future engagements.

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