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1st Question Does including the CAE in a company's stock option program violate either The IIA's Code of Ethics or the Standards? Explain your answer.

1st Question

Does including the CAE in a company's stock option program violate either The IIA's Code of Ethics or the Standards? Explain your answer.

2nd Question

The CAE for Sargon Products reports administratively to the CFO and functionally to the audiy commitee. The scope of the internal audit function assurance services includes financial, operational, and compliance engagements.

Is the internal auditors' objectivity regarding accounting-related matters impaired in each of the situations descibed below? Briefly explain your answer.

a. The internal auditors are frequently asked to make accounting entries for complex transactions that the company's accountants do not have the expertise to handle.

b. A staff accountant reconciles the company's monthly bank statements. An internal auditor reviews the bank reconciliations to make sure they are completed properly.

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