Senior management (including members of the audit committee) must always follow the recommendations of the internal audit committee.(1 Point)TrueFalse

The best practice recommendations for audit committees states that the audit committee should consist of:Select one:a.an independent chairperson who is not chairperson of the board.b.at least one independent director.c.both executive and non-executive directors.d.at least five members.

The chief audit executive (CAE) should be a member of executive management. True or False?Select one:TrueFalse

Which of the following is NOT a potential duty of an audit committee? A. Review of financial statements B. Review of shareholders register C. Review of Internal Audit D. Liaison with external auditors

According to internal auditing standards, who should internal auditors communicate with regarding fraud risks? Group of answer choicesOnly external auditorsOnly senior managementBoth senior management and the boardOnly internal audit department

Which of the following does not form part of the oversight responsibilities of the audit committee?a.External audit qualityb.The company secretary functionc.Audit and assurance requirementsd.The integrity (reliability and usefulness) of reportsClear my choice