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Which of the following would be considered the most significant problem for internal auditif the chief audit executive reports to the controller?a. The controller would amend the audit schedule so more audit time was spent on accounting issues.b. The controller may have no training as an internal auditor.c. During times when the budget needs to be cut, internal audit would likely be the first tolose funding.d. The controller can control the scope of audits and censor audit reports before being sentto management and the audit committee

Which of the following would be considered the most significant problem for internal auditif the chief audit executive reports to the controller?a. The controller would amend the audit schedule so more audit time was spent on accounting issues.b. The controller may have no training as an internal auditor.c. During times when the budget needs to be cut, internal audit would likely be the first tolose funding.d. The controller can control the scope of audits and censor audit reports before being sentto management and the audit committee

Auditing: A Risk Based-Approach (MindTap Course List)
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter3: Internal Control Over Financial Reporting: Responsibilities Of Management And The External Auditor
Section: Chapter Questions
Problem 32CYBK
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Which of the following would be considered the most significant problem for internal audit
if the chief audit executive reports to the controller?
a. The controller would amend the audit schedule so more audit time was spent on accounting issues.
b. The controller may have no training as an internal auditor.
c. During times when the budget needs to be cut, internal audit would likely be the first to
lose funding.
d. The controller can control the scope of audits and censor audit reports before being sent
to management and the audit committee

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