The board of directors expressed concerns about potential external risks that could impact the organization s ability to meet its annual objectives and goals The board requested consulting services…

Question

Options

• AAssess the organization's ability to minimize potential external risks
• BAssess the organization's process of vetting vendors that provide necessary services to the
• CAssess the organization's risk impacts from the markets in which it operates
• DAssess the organization's controls implemented that would help minimize risks

• A
  82% (23)
• B
  4% (1)
• C
  11% (3)
• D
  4% (1)

Explanation

When the board requests consulting services to gain insight regarding external risks, the appropriate engagement objective is to assess the organization's ability to minimize these risks. This involves evaluating the organization's risk management framework, including identifying external risks, assessing their potential impact, and reviewing the effectiveness of the strategies and controls in place to mitigate these risks. By doing so, internal auditors provide valuable insights into how well the organization is prepared to handle external threats and ensure the achievement of its annual objectives.

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