Certified Internal Auditor (CIA) Part 2: Practice of Internal Auditing — Question 22

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.

Answer options

• A. 1 and 3 only
• B. 1 and 4 only
• C. 2 and 3 only
• D. 2 and 4 only

Correct answer: D

Explanation

The correct answer is D because the CAE has overall responsibility for the report and can delegate the review and approval process (option 2), as well as determine how the report will be distributed (option 4). Options 1 and 3 incorrectly imply that the CAE must obtain management approval before issuing the report, which is not entirely accurate as the CAE can delegate that responsibility.