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Sygnia Limited has taken a decision to improve governance in the organisation. An intemal audit department has been established. The Chief Operations Officer has appointed the Chief Financial Officer, Mr Lowe, as the Chief Audit Executive (CAE). The CAE reports functionally to Mr Fourie, the Chief Operations Officer, on a monthly basis. The Chief Operations Officer then reports on intemal audit matters to the audit committee on a quarterly basis. The internal audit department currently has ten staff members, who previously worked in human resources and supply chain management. Of the ten internal audit staff, three have a tertiary qualification, two in human resources and one in supply chain. The intemal audit plan was drawn up after discussions between the CAE and the Chief Operations Officer and was based on areas of interest to them. REQUIRED Evaluate internal audit arrangements and practice in terms of King IV