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Question 208 - IIA-CIA-Part1 discussion

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According to IIA guidance, which of the following statements is true regarding risk management in an organization?

A.
The risk management function has the sole responsibility for identifying and managing risks in all departments
Answers
A.
The risk management function has the sole responsibility for identifying and managing risks in all departments
B.
Risk management is a core responsibility of the internal audit activity
Answers
B.
Risk management is a core responsibility of the internal audit activity
C.
The internal audit activity should consider the organization's maturity, structure, and the competitive environment to establish the organization's risk appetite
Answers
C.
The internal audit activity should consider the organization's maturity, structure, and the competitive environment to establish the organization's risk appetite
D.
The internal audit activity may use a risk management or control framework to assist in risk identification
Answers
D.
The internal audit activity may use a risk management or control framework to assist in risk identification
Suggested answer: D
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asked 18/09/2024
Junaid Ahmed Mohammed
43 questions
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