According to the International Professional Practices Framework, which of the following is the appropriate division of responsibilities for the coordination of internal and external audit efforts?
I. Oversight of Work -
Coordination of Activities -
Chief audit executive -
Senior management -
II. Board -
Chief audit executive -
III. Chief financial officer -
Chief audit executive -
IV. Board -
Chief financial officer -
According to the International Professional Practices Framework, the appropriate division of responsibilities for the coordination of internal and external audit efforts should involve oversight of the work by the board and the coordination of activities by the chief audit executive. This ensures that the top-level governance (the board) is overseeing the audit process while operational coordination is managed by the professional responsible for auditing.
Why isn't A but B?
Under the chapter "Coordinating Audit Efforts with Those of Other Audit/Oversight Bodies" it states that the CAE obtains the support of the board to coordinate audit work effectively.