An audit identified a number of weaknesses in the configuration of a critical client/server system. Although some of the weaknesses were corrected prior to the issuance of the audit report, correction of the rest will require between six and 18 months for completion. Consequently, management has developed a detailed action plan, with anticipated completion dates, for addressing the weaknesses. Which of the following is the most appropriate course of action for the chief audit executive to take?

According to the International Professional Practices Framework, the internal audit activity's decision to defer follow-up of recommendations and management's corrective actions until the next scheduled engagement for the area is justified when:

During the planning phase of an audit of the treasury function, an internal auditor conducted a risk assessment of the function in order to:

A chief audit executive (CAE) has decided to add an engagement to the current audit plan which will exceed available audit resources. Which of the following is the best course of action for the CAE to take?

Which of the following are key characteristics of enterprise risk management?
It considers risk in the formulation of strategy.
It applies risk management in some units of an entity.
It takes a portfolio view of risks throughout the enterprise.
It restricts the organization's ability to seize opportunities inherent in future events.