An internal audit team is reviewing the anti-financial crime (AFC) program of its firm. Which of the following attributes of the third line of defense would be most critical to ensure unbiased and…

The correct answer is D. Independent testing. Independent testing is critical for the third line of defense to provide unbiased and effective oversight, ensuring that reviews and audits are objective and free from influence by the first or second lines of defense.

AML/CFT Compliance Programs

Question

An internal audit team is reviewing the anti-financial crime (AFC) program of its firm. Which of the following attributes of the third line of defense would be most critical to ensure unbiased and effective oversight?

Options

AConsistency of approach
BPeriodic training of the function
CQualification of the team
DIndependent testing

How the community answered

(39 responses)

A
18% (7)
B
5% (2)
C
8% (3)
D
69% (27)

Explanation

Independent testing is critical for the third line of defense to provide unbiased and effective oversight, ensuring that reviews and audits are objective and free from influence by the first or second lines of defense.

Topics

#three lines of defense#internal audit#independent testing#AFC oversight

Community Discussion

No community discussion yet for this question.

Full CAMS Practice