The overall effectiveness of the internal audit activity's periodic self assessments.

The type of audit productivity and performance statistics reported.

The adequacy of the day-to-day supervision and review process.

The scope and frequency of external assessments.

1 and 2 only.

2 and 3.

3 and 4.

1,2, and 4.

The chief audit executive (CAE) reports functionally to the board and administratively to the chief financial officer.

The board seeks senior management's recommendation before approving the annual salary adjustment of the CAE.

The CAE confirms to the board, at least once every five years, the organizational independence of the internal audit activity.

The CAE updates the internal audit charter and presents it to the board for approval periodically, not on a specific timeline.

The scope of store operations audits should exclude compliance.

Store operations audits can be fully executed with appropriate disclosure to the board.

Store operations audits should be performed by an external service provider.

A store operations compliance audit should be performed by a staff internal auditor under the direction of the CAE.

Continue with the engagement in order to meet the regulatory deadline, but highlight areas in the final report that might need to be revised in the future.

Ask that a senior member of the organization's IT department with the required systems expertise join the audit team to assist in completing the engagement.

Delay the engagement and inform the board of the situation, asking them to provide acceptable alternatives for completing the engagement.

Remove the planned engagement from the audit plan and explain to senior management the problems with moving forward without an auditor with the necessary expertise.

Purchasing department.

Compliance department.

Credit department.

Internal audit department.

Several recent, large expenditures to a new vendor have not been documented.

A manager has bragged about multiple extravagant vacations taken within the last year, which are excessive relative to the manager's salary.

A weak control environment has been accepted by management to encourage creativity.

New employees occasionally fail to meet established project deadlines due to staffing shortages.

An organization lacks a whistleblower hotline for reporting suspicious activity.

A senior manager has been delegating the authority to sign-off on small dollar amount purchases to a subordinate.

An employee in charge of payroll disbursements has rotated these duties with several colleagues.

An employee with significant personal debt is in charge of handling large wire transfers for the organization.

Requiring employees to attend ethics training.

Performing background checks on employees.

Implementing a control self-assessment.

Performing a surprise audit.

Governance, risk, and control.

Performance management.

Business acumen.

Internal audit delivery.