Which of the following are appropriate responsibilities of the audit committee in relation to the chief audit executive (CAE)? 1. Approving the internal audit charter. 2. Approving decisions regarding the appointment and removal of the CAE. 3. Approving the risk management strategy for the organization. 4. Making appropriate inquiries of management and the CAE to determine whether there are inappropriate scope and resource limitations.
A) 1 and 2 only
B) 1, 2, and 3 only
C) 1, 2, and 4 only
D) 2, 3, and 4 only

Question

Quizplus · Accepted Answer

The audit committee is responsible for approving the internal audit charter, decisions regarding the appointment and removal of the CAE, and ensuring there are no inappropriate scope and resource limitations. Approving the risk management strategy is typically not within the audit committee's responsibilities.

Which of the Following Are Appropriate Responsibilities of the Audit