A chief audit executive (CAE) received a detailed internal report of senior management's internal control assessment. Which of the following subsequent actions by the CAE would provide the greatest assurance over management's assertions?
A chief audit executive (CAE) received a detailed internal report of senior management's internal control assessment. Which of the following subsequent actions by the CAE would provide the greatest assurance over management's assertions?
To provide the greatest assurance over management's assertions, the chief audit executive should assert whether the described and reported control processes and systems exist. This action involves verifying the actual existence and implementation of the control processes, which is crucial in validating management's claims. Simply evaluating the completeness of the report or assessing management's support for internal controls does not provide the same level of concrete assurance about the effectiveness and existence of these controls.
That's the difference between evaluation and assessment.