IIA Exam IIA-ACCA Topic 5 Question 101 Discussion

Actual exam question for IIA's IIA-ACCA exam

Question #: 101
Topic #: 5

An organization is beginning to implement an enterprise risk management program. One of the first steps is to develop a common risk language. Which of the following statements about a common risk language is true?

AManagement will be able to reduce inherent risk because they will have a better understanding of risk.

BInternal auditors will be able to reduce their sample sizes because controls will be more consistent.

CStakeholders will have more assurance that the risks are assessed consistently.

DDecision makers will understand that the likelihood of missing or ineffective controls will be reduced.

Show Suggested Answer

Suggested Answer: C

by Jose at Jun 13, 2025, 09:22 AM

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Antonio

7 days ago

I'd go with option C as well. Developing a common risk language is all about improving communication and transparency around risks.

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Ettie

13 days ago

Option B is a bit of a stretch. I don't think internal auditors will be able to reduce their sample sizes just because controls are more consistent. That's a bit of a leap.

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Melvin

22 days ago

I believe management will benefit from a common risk language by reducing inherent risk.

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Jolene

29 days ago

I agree, it will help stakeholders have more assurance that risks are assessed consistently.

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Jennie

1 months ago

I think developing a common risk language is important for the organization.

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Jose

1 months ago

I think option C is the correct answer. A common risk language will allow stakeholders to have more confidence in the consistency of risk assessments across the organization.

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Cordelia

11 days ago

Yes, option C is the best choice. Consistency in risk assessments is key for stakeholders to trust the process.

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Margot

16 days ago

I think option C makes the most sense too. It's important for everyone to be on the same page when it comes to assessing risks.

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Casey

25 days ago

I agree, option C is the correct answer. Having a common risk language will definitely provide stakeholders with more assurance.

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