1. Determining that engagement objectives have been met is ultimately the responsibility of the:

a.Internal Auditor

b.Audit Committee

c.Internal Audit Supervisor

d.CAE

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2. Per IIA Standards, internal audit functions must establish:

a.Internal quality assurance and improvement program assessments.

b.External quality assurance and improvement program assessments.

c.Both internal and external quality assurance and improvement program assessments.

d.Neither internal nor external quality assurance and improvement program assessments.

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3. A follow-up review found that a significant internal control weakness had not been corrected. The CAE discussed this matter with senior management and was informed of managements willingness to accept the risk. The CAE should:

a.Do nothing further because management is responsible for deciding the appropriate action to be taken in response to reported engagement observations and recommendations.

b.Initiate a fraud investigation to determine if employees had taken advantage of the internal control weakness.

c.Inform senior management that the weakness must be corrected and schedule another follow-up review.

d.Assess the reasons that senior management decided to accept the risk and inform the board of senior managements decision.