If the internal audit department did not report directly to the Audit Committee, but to the CFO,

Question:

If the internal audit department did not report directly to the Audit Committee, but to the CFO, what kind of issues would this raise in your mind? Is this something that you would support? Can you cite specific examples?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Implementing Enterprise Risk Management Case Studies And Best Practices

ISBN: 9781118745762

2nd Edition

Authors: John Fraser, Betty Simkins, Kristina Narvaez

See More Books

Question Posted: Feb 03, 2024 11:57 PM

See More Questions

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
The following set of scenarios is adapted from "Test Your Ethical Judgment" by Kay Zekany, Strategic Finance November 1, 2007 and from the Institute of Management Accountants. Each of the scenarios...
Weatherford International The oilfield services industry includes thousands of companies large and small that provide drilling, seismic testing, transportation, and a wide range of other services to...
Derive the transfer function of the circuit shown in figure below (for an ideal op amp) and show that it can be written in the form - V. -R2/R1 V," [1+ ( +j) Where w1 = 1/C,R1 and w2 = 1/ C2R2....
In a darkened room, a burning candle is placed 1.50 m from a white wall. A lens is placed between candle and wall at a location that causes a larger, inverted image to form on the wall. When the lens...
Mercy Hospital is a private hospital that serves an aging population. The hospital administrator, Donna Cost Reduction Morgan, believes that insurance companies and Medicare will move to fixed...
4. Under what circumstances should a manager apply a standard NPV approach, a DTA approach, or an ROV approach to valuation?
You have been assigned the task of evaluating two mutually exclusive projects with the following projected cash flows: If the appropriate discount rate on these projects is 10 percent, which would be...
(a) There are three elements to the accounting equation. Define each of these elements with the use of one example for each element. (6 marks) (b) Explain how the accounting equation is expanded when...
Sendelbach Corporation is a U.S.-based organization with operations throughout the world. One of its subsidiaries is headquartered in Toronto. Although this wholly owned company operates primarily in...
Is it important that internal audit annually reviews the companys risk management function? What advice would you provide to a head of internal audit that was not performing such a review? Have you...
Why is it that tone at the top and a strong risk culture are critical components for a companys success, such as what you see at JAA?
Evaluate the ratio g Zee 2 /gW e 2 and the decay rates ratio (Ze + e - )/(W e + e ).
Explain the principles of database normalization and denormalization, delineating their respective roles in optimizing data storage efficiency, query performance, and data integrity in relational...
Asymptotic Computational Complexity O(): Calculate the time complexity of each function below and explain your reasoning. Write your answers on paper and submit a scanned copy. (5 pts each) def...
Happy Valley Software has developed a new meteorology software package that will likely revolutionize the weather forecasting industry. They are looking to market the software to the following three...
Please read the essay Nasty Women Have Much Work To Do from Alexandra Petri on pages 45-47. In your discussion post, please share your thoughts on what specific strategies she uses to create tone and...
We live in an increasingly hyper-competitive global marketplace, where firms are fighting to stay lean and flexible in an effort to satisfy increasingly diverse and specialized consumer demand. In...
The control of an autonomous vehicle motion from one point to another point depends on accurate control of the position of the vehicle [16]. The control of the autonomous vehicle position Y(s) is...
The column shown in the figure is fixed at the base and free at the upper end. A compressive load P acts at the top of the column with an eccentricity e from the axis of the column. Beginning with...
By how much has the Tier 1 equity capital (including the capital conservation buffer) increased under Basel III compared with the Tier 1 equity capital requirement under Basel I and II?
What is the difference between the capital required for a AAA-rated ABS with principal of $100 million and a AAA-rated ABS CDO with a principal of $100 million using the standardized approach?
Explain how the incremental risk charge is calculated. Why was it introduced by the Basel Committee?
Minden Company introduced a new product last year for which it is trying to find an optimal selling price. Marketing studies suggest that the company can increase sales by 5,000 units for each $2...
Prepare the adjusting journal entries and Post the adjusting journal entries to the T-accounts and adjust the trial balance. Dresser paid the interest due on the Bonds Payable on January 1. Dresser...
Venneman Company produces a product that requires 7 standard pounds per unit. The standard price is $11.50 per pound. If 3,900 units required 28,400 pounds, which were purchased at $10.92 per pound,...

If the internal audit department did not report directly to the Audit Committee, but to the CFO,

Question:

Step by Step Answer:

This is a great question It points to a potential conflict of interest and can be a concern because ...View the full answer

Implementing Enterprise Risk Management Case Studies And Best Practices

Students also viewed these Business questions