Which of the following represents a potential impairment to the independence of the chief audit executive?

The choice indicating the potential impairment to the independence of the chief audit executive involves overseeing the organization's risk management function. This situation can create a conflict of interest, as the chief audit executive is tasked with evaluating the effectiveness of the organization's risk management processes. If they are also responsible for overseeing these functions, it could compromise their objectivity and impartiality in assessing risk management. Independence is crucial in internal auditing to ensure unbiased evaluations; therefore, having a dual role in both oversight and evaluation can lead to an inherent bias or perceived lack of independence.

In contrast, conducting internal audits on a quarterly basis, participating in board meetings, and collaborating with external auditors typically do not impair independence. Regular internal audits are standard practice that supports the organization's oversight without compromising independence. Participation in board meetings is essential for communication and alignment with governance without affecting the auditor's independence. Collaboration with external auditors establishes a cooperative relationship that enhances the audit process and does not inherently create a conflict of interest.