Which of the following documents should the chief audit executive review and approve?
1. Workpaper retention policy.
2. Audit committee meeting minutes.
3. Internal audit handbook.
4. Quarterly financial statements.
Which of the following documents should the chief audit executive review and approve?
1. Workpaper retention policy.
2. Audit committee meeting minutes.
3. Internal audit handbook.
4. Quarterly financial statements.
The chief audit executive should review and approve the workpaper retention policy and the internal audit handbook, as these are directly related to the internal audit function and its administration. The audit committee meeting minutes and the quarterly financial statements fall under the purview of other roles within the organization; the audit committee and senior management (such as the CFO and CEO) are typically responsible for these documents.
1 and 3 it is the CAE responsibility to review and approved as it is a policy, however, 2 and 4 he is reviewing but not approve as it will be approved by AC minutes and CFO and CEO of the FS