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Once an observation is identified, there are several steps the internal audit function must go through to: do nothing determine what impact, if any, the
Once an observation is identified, there are several steps the internal audit function must go through to:
do nothing | ||
determine what impact, if any, the observation has on the internal audit functions evaluation of whether the related controls are designed adequately and operating effectively | ||
Immediately communicate to the CAE and audit committee | ||
flag the issue as a potential fraud |
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