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Hi Sir, i came accross the below questiin and it was challenging for me choosing the right answer. could you be of help?
thanks in advance
The chair of the audit committee and the CAE were discussing the need for an external review of the internal auditing activity. The chair believes that an external review will be useful for several reasons. The CAE agrees with the chair on the need; however the CAE things a full blown external assessment is not necessary. The CAE believes a self assessment with external validation would be adequate. Which of the following is/are true concerning the circumstances where a self assessment would be justified?
I-The organization frequently has agency regulators reviewing its books and internal controls
II-The organization operates in an industry that has extensive oversight
III-The organization is a publicly listed company
IV-The CAE believes the cost of a full external assessment outweigh its benefits
A) I,ii and iv
B) I and iv
C) I and ii
D) I,ii and ii
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