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According to IIA guidance, which of the following statements is true regarding the authority of the chief audit executive (CAE) to release previous audit reports to outside parties?
A.
The CAE can release prior internal audit reports with the approval of the board and senior management.
B.
The CAE can employ judgment and release prior audit results as they deem appropriate and necessary.
C.
The CAE can only release prior information outside the organization when mandated by legal or statutory requirements.
D.
The CAE can release prior information provided it is as originally published and distributed within the organization.
Option A is wrong because the CAE doesn't need the approval of both the board and Snr. management to release prior audit report. However, depending on the sensitivity of the report, the CAE may consult with Snr. Mgt. and or legal counsel. Which is were judgement is required as deemed necessary and appropriate.
Implementation Standard 2440.A2 states the CAE must consult with senior management and/or legal counsel as appropriate. Therefore, the board and senior management do not approve the distribution.
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