Which of the following is the best option for the chief audit executive to consider for effective coordination of assurance coverage?

Question

Options

• ACreate an assurance map to illustrate each provider's level of assurance and planned activities for
• BLIMIT?ricks inventory to identify the risks and controls in place and the relevant control owners.
• CRely on the risk and control and management testing information maintained for compliance with
• DPrepare a risk likelihood and impact heal map to prioritize assurance coverage coordination.

• A
  81% (38)
• B
  2% (1)
• C
  4% (2)
• D
  13% (6)

Explanation

For effective coordination of assurance coverage, the chief audit executive (CAE) should consider creating an assurance map. An assurance map provides a visual representation of the assurance activities across the organization, showing who is providing assurance, the areas covered, and the level of assurance provided. This helps to identify gaps and overlaps in assurance coverage, enabling better coordination and optimization of resources. This approach is recommended by best practices in internal auditing as it aligns assurance activities with organizational risk and ensures comprehensive coverage.

No community discussion yet for this question.