Which of the following statements regarding the risk management process' support of the internal audit activity is true?
A.
The risk management process can provide more extensive internal audit services to the organization if it does not have an internal audit department.
B.
The risk management process supports internal audit by evaluating whether critical controls are adequate and effective.
C.
The risk management process can determine whether all significant risks have been identified and are being treated.
D.
The risk management process establishes an organization-specific, documented risk management framework.
The statement that the risk management process supports internal audit by evaluating whether critical controls are adequate and effective is true. The risk management process provides a framework for identifying, assessing, and managing risks, and internal audit uses this information to evaluate the adequacy and effectiveness of controls in place to mitigate those risks. This support helps internal audit focus on areas of high risk and ensure that controls are functioning as intended.
References:
IIA Standards: 2120 - Risk Management
IIA Practice Guide: Assessing the Adequacy of Risk Management Processes
upvoted 1 times
...
...
Log in to ExamTopics
Sign in:
Community vote distribution
A (35%)
C (25%)
B (20%)
Other
Most Voted
A voting comment increases the vote count for the chosen answer by one.
Upvoting a comment with a selected answer will also increase the vote count towards that answer by one.
So if you see a comment that you already agree with, you can upvote it instead of posting a new comment.
Elvoo
3 weeks, 3 days agoemtofid
3 weeks, 5 days agoElvoo
2 weeks, 2 days ago