Question
You work for a company that has outsourced its internal audit function for several years. Yesterday, the companys chief financial officer (CFO) called you into
You work for a company that has outsourced its internal audit function for several years. Yesterday, the companys chief financial officer (CFO) called you into her office and told you that the audit committee has decided that, following the practice guidelines set forth in the Standards, the company needs a chief audit executive (CAE). She asks you to assume this role in addition to your duties as director of taxation for the company. A. Describe what your primary role will be as the companys CAE of an outsourced internal audit function. B. To whom should you, as the companys CAE, report? C. List the specific responsibilities you will have if you carry out your role as CAE in accordance with the Standards. D. Explain how you will handle the potential conflict your role as director of taxation might have with your new role as CAE.
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