Due to urgent requests from management, a busy internal audit activity finds that it can no longer meet all of its commitments contained in the annual audit plan.
The best course of action for the chief audit executive to take would be to:
Due to urgent requests from management, a busy internal audit activity finds that it can no longer meet all of its commitments contained in the annual audit plan.
The best course of action for the chief audit executive to take would be to:
The chief audit executive should advise both the board and senior management to ensure that all stakeholders are aware of the situation. Requesting a reassessment of the audit plan allows for a comprehensive review of priorities and resources, ensuring that the most critical and high-risk areas are addressed first. This approach ensures that the internal audit function remains aligned with the organization's overall objectives and risk management strategy.
Audit plan re-assessment is the answer because sometimes organization does not have any budget/money to allocate additional resources.
why not D ?
correct, it should be D
Option B would have been the ideal approach (taking into account the risks), if the Board of Directors was also informed. Option C is appropriate and implies that the advice provided will take into account the risk-based approach.