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Question 261 - IIA-CIA-Part2 discussion

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The human resources (HR) department was last reviewed three years ago and is due for an assurance engagement after undergoing recent process changes. Which of the following would the most effective option identify the HR department's risks and controls?

A.
Meet with the chief operating officer 10 obtain Information about the MR department
Answers
A.
Meet with the chief operating officer 10 obtain Information about the MR department
B.
Review the previous internal audit report and locus on key audit observations and action plans
Answers
B.
Review the previous internal audit report and locus on key audit observations and action plans
C.
Review the organization's risk strategy and risk appetite framework
Answers
C.
Review the organization's risk strategy and risk appetite framework
D.
Discuss the department's present strategies 'and objectives with the head of the HR department
Answers
D.
Discuss the department's present strategies 'and objectives with the head of the HR department
Suggested answer: D

Explanation:

The most effective way to identify the HR department's risks and controls, especially after recent process changes, is to discuss the department's present strategies and objectives with the head of the HR department. This approach allows the auditor to gain current and relevant insights directly from the person most knowledgeable about the department's current operations, risks, and controls. It ensures that the auditor understands the current environment, any new challenges, and the specific controls in place to mitigate risks. This method is more comprehensive and current compared to reviewing past reports or generalized organizational frameworks, which might not reflect recent changes accurately.

The Institute of Internal Auditors (IIA) Standard 2010 -- Planning: 'The chief audit executive must establish risk-based plans to determine the priorities of the internal audit activity, consistent with the organization's goals.'

IIA Practice Guide on 'Engaging with Stakeholders'

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asked 18/09/2024
zulmaidi mr
38 questions
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