IIA-CIA-PART2 · Question #58
When creating the internal audit plan, the chief audit executive should prioritize engagements based primarily on which of the following?
The correct answer is A. The last available risk assessment. The IIA Standards emphasize that the chief audit executive (CAE) should develop the internal audit plan based on a thorough assessment of risks facing the organization. This risk-based approach ensures that the most significant and relevant areas are prioritized. While input…
Question
When creating the internal audit plan, the chief audit executive should prioritize engagements based primarily on which of the following?
Options
- AThe last available risk assessment.
- BRequests from senior management and the board.
- CThe longest interval since the last examination of each audit universe item.
- DThe auditable areas required by regulatory agencies.
How the community answered
(20 responses)- A90% (18)
- C5% (1)
- D5% (1)
Explanation
The IIA Standards emphasize that the chief audit executive (CAE) should develop the internal audit plan based on a thorough assessment of risks facing the organization. This risk-based approach ensures that the most significant and relevant areas are prioritized. While input from senior management and regulatory requirements are also important, the primary driver should be the most recent and comprehensive risk assessment.
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