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NEW QUESTION: 1
According to Basel Committee on Banking Supervision guidelines, which of the following statements best describes the relationship between the internal audit function and compliance?
A. An internal audit program of adequacy of the bank's compliance function should be established, but should not include review of transactions.
B. The internal audit methodology should include an assessment of compliance risk.
C. The auditors should not discuss internal audit findings with compliance management to maintain independence.
D. The compliance function and internal audit function should be combined.