Internal audit coverage is reduced to avoid potential conflicts of interest.

Audits of the same department are conducted at different times.

The internal audit department reviews functions or departments prior to the external audit.

External audit scope is reduced based on the internal audit department's activities.

Ionly

I and IIonly

 II and IIIonly

I,II,and III.

Establishing policies and procedures for workpapers and referencing.

Providing periodic activity reports to the audit committee on audit engagements in progress.

Assessing the amount of risk in major departments.

Training audit staff on appropriate audit methodologies for addressing any newly identified risks.

Relevant risk information is captured and communicated in a periodic manner to
management.

Risk management processes are monitored through an annual assessment.

Risk responses align with the organization's risk appetite.

Strategic risks with low residual values are continuously monitored.

Ensure that all financial information related to the engagement is included in the audit
plan and examined for irregularities.

Document all audit tests completely.

Consider the possibility of noncompliance or irregularities at all times during an engagement.

Notify the audit committee of any noncompliance or irregularity discovered during an engagement.

The existence of a formal written charter for the internal audit activity.

Submission of an annual internal audit work plan to the audit committee.

A direct reporting relationship to the audit committee.

Adherence to the organization's position classification structure.

I,IV,III,II,V.

I,IV,II,III,V.

IV,I,III,II,V.

IV,III,I,V,II.

 The chief audit executive (CAE) approves the annual internal audit plan.
 

The CAE administratively reports to the board.
 

The audit committee approves the CAE's annual salary increase.

 The chief executive officer approves the internal audit charter.