To which of the following aspects should the chief audit executive give the most consideration while communicating an identified unacceptable risk to management?

The correct answer is D. The organization's risk management policy. The chief audit executive should give the most consideration to the organization's risk management policy when communicating an identified unacceptable risk to management. The risk management policy outlines the organization's approach to managing risk, including risk tolerance…

Managing the Internal Audit Activity

Question

Options

AThe organization's attitude to hierarchy
BThe organization's whistleblowing strategy
CThe organization's ongoing risk monitoring process
DThe organization's risk management policy

How the community answered

(31 responses)

A
3% (1)
B
3% (1)
D
94% (29)

Explanation

The chief audit executive should give the most consideration to the organization's risk management policy when communicating an identified unacceptable risk to management. The risk management policy outlines the organization's approach to managing risk, including risk tolerance levels, risk appetite, and the procedures for identifying, assessing, and mitigating risks. By aligning the communication with the risk management policy, the CAE ensures that the discussion about unacceptable risk is framed within the context of the organization's established risk management framework, facilitating a more structured and effective response from

Topics

#risk communication#CAE responsibilities#risk management policy#unacceptable risk

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