44. Statement 1. Publicly listed companies are recommended to have a qualified Chief Audit Executive (CAE) who shall oversee and be responsible for the internal audit activity of the organization and must be appointed by the Board, subject to the Principle of Proportionality. Statement 2. Internal Auditors are challenged to recognize and evaluate ethical and unethical situations often encountered in practice and it is important to be alert to situations that may threaten these fundamental principles. This is the concept of Ethical Intelligence. Which of the following statements is/are false? Group of answer choices Statements I and II Statement II only Statement I only

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