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How should an internal auditor approach preparing a detailed risk assessment during engagement planning?
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Question 242 - IIA-CIA-Part2 discussion

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Which of the blowing is an example of a compliance assurance engagement?

A.
Proving in-house training to senior management regarding applicable laws and regulations
Answers
A.
Proving in-house training to senior management regarding applicable laws and regulations
B.
Proving an assessment of the design adequacy of controls related to consumer privacy and confidentially.
Answers
B.
Proving an assessment of the design adequacy of controls related to consumer privacy and confidentially.
C.
Providing an assessment of customer satisfaction with customer service provided by the organization
Answers
C.
Providing an assessment of customer satisfaction with customer service provided by the organization
D.
Providing testing on the operating effectiveness of controls ever the reliability of financial reporting
Answers
D.
Providing testing on the operating effectiveness of controls ever the reliability of financial reporting
Suggested answer: B

Explanation:

A compliance assurance engagement focuses on evaluating whether an organization is adhering to applicable laws, regulations, policies, and procedures. Assessing the design adequacy of controls related to consumer privacy and confidentiality is a prime example of such an engagement, as it ensures that the organization's controls are designed to comply with relevant privacy laws and regulations, thereby protecting consumer data and maintaining compliance.

Reference:

The Institute of Internal Auditors (IIA) - Standards for the Professional Practice of Internal Auditing, Standard 2410 - Criteria for Communicating

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asked 18/09/2024
shylashri selvamani
46 questions
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