A.The chief audit executive (CAE) shall report directly to the board and administratively to the CEO.

B.The internal audit team shall have full access to the organization's records, physical property, and personnel required to conduct audit engagements.

C.The internal audit activity shall maintain a quality assurance and improvement program in conformance with the Standards.

D.The CAE shall provide senior management and the board with performance updates quarterly.

A.Allow the higher tenders to rebid.

B.Keep minutes of pre-bid meetings.

C.Restrict the time to submit tender bids.

D.Have a bidding committee open the tender bids.

A.Combination of internal and external risk factors in their pure state assuming no controls are in place

B.Risk factors that exist when controls are in place and operating effectively

C.Internal risk factors assuming no controls are in place

D.Risk factors that cannot be mitigated because they are innate to a process

A.Planning an engagement of the area in which fraud is suspected.

B.Interrogating a suspected fraudster

C.Employing audit tests to detect fraud.

D.Completing a process review to improve controls to prevent fraud

A.The mission statement and strategy of the internal audit activity demonstrates alignment to organizational objectives.

B.The chief audit executive reports both functionally and administratively to the CEO.

C.An independent third party has assessed the organization's system of internal controls to be adequate and effective,

D.The internal audit charter is drafted properly and approved by the appropriate parties.