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Question 150

According to the Standards, which of the following best describes the responsibility of the chief audit executive (CAE) for approving the final engagement report?

The CAE is responsible for obtaining management approval before issuing the final report.

The CAE has overall responsibility for the report but can delegate the review and approval of the report.

The CAE is responsible for obtaining senior management's approval before releasing the final report.

The CAE is responsible for approving to whom and how the final report will be disseminated.

    Correct Answer: D

    The chief audit executive (CAE) has overall responsibility for the final engagement report and can delegate the review and approval of the report. The CAE is also responsible for deciding to whom and how the final report will be disseminated. Therefore, the answer is that the CAE has overall responsibility for the report but can delegate the review and approval of the report (option 2) and the CAE is responsible for approving to whom and how the final report will be disseminated (option 4).

Discussion
Reina11Option: D

Interpretation of Standard 2440: The chief audit executive is responsible for reviewing and approving the final engagement communication before issuance and for deciding to whom and how it will be disseminated. When the chief audit executive delegates these duties, he or she retains overall responsibilities.

MohamedAbdelaal

I think that, the Internal Audit Manager or the engagement's supervisor is the one responsible for obtaining the client's feedback, not the CAE

Brad626

It would be nice if the choices are numbered 1 through 4