IIA
IIA-CIA-PART2 · Question #443
IIA-CIA-PART2 Question #443: Real Exam Question with Answer & Explanation
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Question
Senior management is challenging regulatory fines that were assessed to the organization due to questionable business practices. Their actions and the fines could have an adverse effect on the organization's ability to continue business. How would the chief audit executive respond?
Options
- AAssume responsibility for quantifying and minimizing the residual risks to the organization.
- BAssess the level of financial risks that may affect the organization's stability.
- CInform the regulatory agency about senior management's action and seek guidance.
- DProceed with a consulting engagement to benchmark similar organizations' business practices in
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