Which of the following is an appropriate responsibility for the internal audit activity with regard to the organization's risk management program?

Question

Options

• AIdentifying and managing risks in line with the entity's risk appetite.
• BEnsuring that a proper and effective risk management process exists.
• CAttaining an adequate understanding of the entity's key mitigation strategies.
• Dare part of the audit process, but ensuring the existence of a proper process is the primary

• A
  2% (1)
• B
  88% (36)
• C
  7% (3)
• D
  2% (1)

Explanation

The internal audit activity's role in regard to the organization's risk management program includes ensuring that a proper and effective risk management process is in place. This involves evaluating the risk management processes and providing assurance that risks are identified and managed effectively. The internal audit activity should not be responsible for managing risks (Option A), but should ensure there is a systematic process (Option B). Attaining an adequate understanding of key mitigation strategies (Option C) and identifying appropriate controls (Option

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