Which requirement should the chief audit executive consider when communicating results of the quality assurance and improvement program to the board of a large organization?

Which requirement should the chief audit executive consider when communicating results of the quality assurance and improvement program to the board of a large organization?
A . The internal assessment results should be discussed once every five years
B . The rating conclusions and the impact from results of the external assessment should be explained
C . The results of the external assessment should be discussed every seven years.
D . The qualifications and independence of the internal assessment team should be discussed

Answer: B

Explanation:

When communicating the results of the quality assurance and improvement program (QAIP) to the board of a large organization, the chief audit executive (CAE) should explain the rating conclusions and the impact of the results from the external assessment. This ensures transparency and helps the board understand the effectiveness and areas for improvement in the internal audit function. Rating Conclusions: These provide a summary of the overall quality and performance of the internal audit function.

Impact Explanation

Discussing the impact helps the board understand how the results affect the internal audit’s ability to fulfill its responsibilities and improve its processes.

Transparency: Clear communication of these aspects helps build trust and provides a basis for informed decision-making by the board.

Reference: "Internal Audit Quality Assurance and Improvement Program," which emphasizes the importance of explaining rating conclusions and impacts to the board.

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