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

Question

Options

• AIdentify and manage risks in line with the organization's risk appetite.
• BEnsure that a proper and effective risk management process exists.
• CAttain an adequate understanding of the organization's key risk mitigation strategies.
• DIdentify and ensure that appropriate controls exist to mitigate risks.

• A
  11% (6)
• B
  4% (2)
• C
  79% (45)
• D
  7% (4)

Explanation

According to IIA guidance, an appropriate role for the internal audit activity with regard to the organization's risk management program is to attain an adequate understanding of the organization's key risk mitigation strategies. This enables internal auditors to evaluate the effectiveness of risk management processes and provide assurance on the adequacy of risk controls. Identifying and managing risks, ensuring risk management processes exist, and ensuring controls exist to mitigate risks are responsibilities of management, not internal audit.

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