IIA-CIA-PART2 · Question #62
Which of the following best illustrates the primary focus of a risk-based approach to control self- assessment?
The correct answer is D. To link a financial institution's business objectives to a work unit responsible for the associated. A risk-based approach to control self-assessment focuses on aligning the organization's business objectives with the risks managed by specific work units. This method ensures that the controls are effectively designed and operated to mitigate risks that could impede achieving…
Question
Which of the following best illustrates the primary focus of a risk-based approach to control self- assessment?
Options
- ATo evaluate controls regarding the computer security of an oil refinery.
- BTo examine the processes involved in exploring, developing, and operating a gold mine.
- CTo assess the likelihood and impact of events associated with operating a finished goods
- DTo link a financial institution's business objectives to a work unit responsible for the associated
How the community answered
(34 responses)- A9% (3)
- B6% (2)
- C3% (1)
- D82% (28)
Explanation
A risk-based approach to control self-assessment focuses on aligning the organization's business objectives with the risks managed by specific work units. This method ensures that the controls are effectively designed and operated to mitigate risks that could impede achieving business objectives. Options A, B, and C describe evaluating controls and processes in specific contexts but do not illustrate the primary focus of linking business objectives with the associated risks at the work unit level, which is central to a risk-based approach.
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