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Upon completion of an external assessment as part of the quality assurance and improvement program (QAIP), the chief audit executive (CAE) reported the results to senior management and the board The CAE included the following elements in the report - Qualifications and independence of me external assessment team - Conclusions of assessors - Corrective action plans How should the CAE improve the aforementioned approach to reporting the resets of QAIP?
Correct Answer: C
To improve the approach to reporting the results of the QAIP, the results must also be shared with the external auditors. This sharing of information helps external auditors determine the extent to which they can rely on the work of the internal audit activity. This not only enhances coordination between internal and external audit functions but also improves the overall audit quality by enabling external auditors to better understand the internal audit environment and its effectiveness.References: Institute of Internal Auditors (IIA) - International Professional Practices Framework (IPPF)