QUESTION 2 Internal audit will typically adopt a medium timeline for strategic planning purposes allowing the Chief Audit Executive (CAE) to balance assurance needs and resources within a defined...

QUESTION 2

Internal audit will typically adopt a medium timeline for strategic planning purposes allowing the Chief Audit Executive (CAE) to balance assurance needs and resources within a defined budget envelope to provide reasonable assurance to audit committee and senior management. Short term or specific skills gaps can be bridged through recruitment, training or co-sourcing.

REQUIRED:

1. Appraise the key risks that the Chief Auditing Executive (CAE) should consider in the development of the annual strategic audit plan whilst maintaining equal segregation of duties among the people based on the Internal Audit Charter.