IIA Exam IIA-CHAL-QISA Topic 2 Question 26 Discussion

Actual exam question for IIA's IIA-CHAL-QISA exam

Question #: 26
Topic #: 2

A multinational organization has asked the internal audit activity to assist in setting up the organization's risk management system The chief audit executive (CAE) agrees to take on the engagement as a consultant. Which of the following tasks is appropriate for the CAE to undertake?

ACoordinate and facilitate risk workshops for management to attend

BEstablish the degree of risk appetite for management to accept.

CSet risk Indicators and mitigation plans for management to Implement.

DDetermine the number of significant risks for management to report to the board

Show Suggested Answer

Suggested Answer: A

Role of CAE as Consultant: The chief audit executive (CAE) can act as a consultant to help management establish a risk management system. Their role should be facilitative rather than directive, ensuring that management owns the risk management process.

Appropriate Tasks:

Risk Workshops: Coordinating and facilitating risk workshops (option A) helps management identify and assess risks, allowing them to develop appropriate responses. This is a suitable task for the CAE.

Risk Appetite and Indicators: Establishing risk appetite (option B) and setting risk indicators and mitigation plans (option C) are management's responsibilities.

Reporting Risks: Determining the number of significant risks to report (option D) should also be a management function.

by Dulce at May 05, 2025, 03:25 AM

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Glen

1 months ago

Ah, the joys of risk management. I bet the CAE is already planning their vacation time, because this engagement is going to be a real roller coaster ride!

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Leota

1 months ago

I wonder if the CAE has a magic 8-ball to help them decide which option is best. Might as well just shake it and go with whatever it says!

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Sherman

1 months ago

You know, I'm leaning towards option D. Determining the number of significant risks for the board to report on could be a great way for the CAE to provide valuable insights.

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Sylvie

22 days ago

Setting risk indicators and mitigation plans, as mentioned in option C, is crucial for managing and addressing potential risks effectively.

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Aimee

24 days ago

I agree, option A is a good choice. It allows for collaboration and input from various stakeholders.

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Deeanna

25 days ago

I think option A could also be valuable. Coordinating risk workshops for management to attend can help identify key risks.

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2 months ago

Hmm, I'm not so sure. Wouldn't option B be better? Establishing the organization's risk appetite seems like a crucial step that the CAE should handle.

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Helaine

27 days ago

C) Set risk Indicators and mitigation plans for management to Implement.

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Stevie

30 days ago

B) Establish the degree of risk appetite for management to accept.

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Glen

1 months ago

A) Coordinate and facilitate risk workshops for management to attend

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3 months ago

I think the CAE should coordinate and facilitate risk workshops for management to attend.

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