Which of the following statements relating to risk management is true?

Question

Massimo Cerqui · Accepted Answer

A lack of controls is acceptable if the risk is reduced to an acceptable level in some other way

Massimo Cerqui · Answer

The high-level risk assessment performed during engagement planning is a detailed step-by-step analytical process

Massimo Cerqui · Answer

External auditors must be engaged to evaluate the potential for fraud and how the organization manages fraud risk

Massimo Cerqui · Answer

Internal auditors are responsible for managing the risks of the organization

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