Acams Advanced-CAMS-Audit Exam - Topic 4 Question 6 Discussion

Actual exam question for Acams's Advanced-CAMS-Audit exam

Question #: 6
Topic #: 4

During the auditing process the auditor finds that the entity never updates the customers risk assessment. Which remediation actions should the auditor suggest? (Select Two.)

ACompliance regularly updates the lists of high- and medium-risk countries to ensure updated customer risk profiles.

BAudit designates an audit manager to review customer profiles annually.

CDelete non-active customer profiles to reduce the workload of ongoing surveillance.

DManagement engages an independent third party to update all the customer risk profiles.

EThe business updates the customer risk profiles periodically in accordance with the customer risk level.
A: Regularly updating lists of high- and medium-risk countries ensures that customer risk profiles align with the most current geopolitical and economic risks.
E: Periodic updates to customer risk profiles, based on their assigned risk level, are critical for maintaining an accurate and dynamic risk assessment system.

Show Suggested Answer

Suggested Answer: A, E

by Ashton at Jan 15, 2025, 04:32 AM

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Justine

4 months ago

Totally agree with E! Can't believe they weren't doing this already.

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Dahlia

4 months ago

Wait, deleting non-active profiles? That sounds risky!

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Derick

4 months ago

E is the way to go! Regular updates are key for accurate assessments.

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Matthew

4 months ago

I think B makes sense too, but how often is "annually" enough?

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Brent

4 months ago

A is definitely a must! Keeping up with high-risk countries is crucial.

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Myrtie

5 months ago

I’m a bit confused about whether we should focus on internal updates or bringing in external help. I think A and D could both be valid, but I lean towards A for sure.

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Casey

5 months ago

I feel like we practiced a similar question where updating risk profiles was emphasized. A and E seem to fit that scenario well.

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Malcom

5 months ago

I'm not entirely sure about the best options here. I think E makes sense, but I also recall something about having an independent review, which might be D?

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Lottie

5 months ago

I remember we discussed the importance of regularly updating risk assessments in class. Option A seems like a solid choice since it aligns with compliance requirements.

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Kirk

5 months ago

Okay, I think I've got a handle on this. Regularly updating the lists of high- and medium-risk countries, as well as having the business update customer risk profiles periodically, seem like the two most appropriate remediation actions. I'll select those.

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Theodora

5 months ago

Hmm, I'm a bit unsure about this one. Updating risk profiles and having an audit manager review them annually both seem like reasonable approaches, but I'm not sure if those are the best options. I'll need to think this through carefully.

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Elfrieda

5 months ago

This seems like a straightforward question about remediation actions for an entity that doesn't update customer risk assessments. I'll need to carefully review the options and select the two that best address the issue.

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Mammie

1 year ago

A and E for sure. It's like my grandma always said, 'An up-to-date risk profile is worth two in the bush!'

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Roosevelt

1 year ago

Hmm, I'm not sure about D. Paying an independent third party to do all the work? Seems like a waste of money, the business should be able to handle that themselves.

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Stanford

12 months ago

C: Deleting non-active customer profiles can help reduce the workload of ongoing surveillance and focus resources on active customers.

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Gianna

12 months ago

B: Assigning an audit manager to review customer profiles annually can help ensure that the updates are done consistently and thoroughly.

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Trina

12 months ago

E: Periodic updates to customer risk profiles, based on their assigned risk level, are critical for maintaining an accurate and dynamic risk assessment system.

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Marvel

1 year ago

A: Regularly updating lists of high- and medium-risk countries ensures that customer risk profiles align with the most current geopolitical and economic risks.

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Isidra

1 year ago

Wait, what? I'm pretty sure your grandma never said that. But the point still stands - keep those profiles fresh!

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Emerson

1 year ago

E: Periodic updates to customer risk profiles, based on their assigned risk level, are critical for maintaining an accurate and dynamic risk assessment system.

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Fabiola

1 year ago

A: Regularly updating lists of high- and medium-risk countries ensures that customer risk profiles align with the most current geopolitical and economic risks.

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Erin

1 year ago

A and E seem like the most logical choices. Keeping those customer risk profiles up-to-date is crucial for any effective audit process.

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Sherman

1 year ago

E: Periodic updates to customer risk profiles, based on their assigned risk level, are critical for maintaining an accurate and dynamic risk assessment system.

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Aliza

1 year ago

A: Regularly updating lists of high- and medium-risk countries ensures that customer risk profiles align with the most current geopolitical and economic risks.

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