Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The chief audit executive (CAF) determined that the residual risk identified in an assurance engagement is acceptable. When should this be communicated to senior management?
The chief audit executive (CAF) determined that the residual risk identified in an assurance engagement is acceptable. When should this be communicated to senior management? A. When the CAE reports the audit outcome to senior management. B. When the residual risk is identified before the engagement is complete. C. Immediately, as residual risk should be communicated as soon as possible D. When management of the area under review has resolved and mitigated the residual risk
Step by Step Solution
There are 3 Steps involved in it
Step: 1
The correct answer is A When the CAE reports the audit outcome to senior management Explanation In the context of internal auditing communication with ...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started