The chief audit executive's responsibility regarding control processes includes:
The chief audit executive's responsibility regarding control processes includes:
The chief audit executive's responsibility regarding control processes includes assisting senior management and the audit committee in the development of an annual assessment about internal control. This aligns with the role of a chief audit executive, which typically involves supporting the organization's governance by providing assurance and consulting services, thus helping senior management and the audit committee in their oversight responsibilities.
I just need confirmation, audit committee ensures that the internal audit activity assesses all control processes annually?
Or it is just wrong because of the word annually...
...and it is ongoing monitoring.
I think it's the word ALL that made that answer wrong.
No the Audit Committee (Board) only supervises. Additionally, The IAA does not need to evaluate ALL controls processes annually or otherwise.