IIA Exam IIA-CIA-Part2 Topic 7 Question 76 Discussion

Actual exam question for IIA's IIA-CIA-Part2 exam

Question #: 76
Topic #: 7

The board of directors expressed concerns about potential external risks that could impact the organization s ability to meet its annual objectives and goals The board requested consulting services from the internal audit activity to gain insight regarding the external risks Which of the following engagement objectives would be appropriate to fulfill this request?

AAssess the organization's ability to minimize potential external risks

BAssess the organization's process of vetting vendors that provide necessary services to the organization

CAssess the organization's risk impacts from the markets in which it operates

DAssess the organization's controls implemented that would help minimize risks

Show Suggested Answer

Suggested Answer: C

by Elfriede at Apr 28, 2024, 08:02 AM

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Carylon

2 months ago

I wonder if the board is considering hiring the internal audit team to do a full-on 'risk Olympics' with all the external threats. Gold medal for the most creative natural disaster scenario!

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Berry

25 days ago

C) Assess the organization's controls implemented that would help minimize risks

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Noe

1 months ago

B) Assess the organization's process of vetting vendors that provide necessary services to the organization

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Pok

2 months ago

A) Assess the organization's risk impacts from the markets in which it operates

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Rosendo

3 months ago

Haha, option A sounds like something straight out of a bad action movie. 'Minimize potential external risks'? Good luck with that one!

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Melda

2 months ago

C) Assess the organization's risk impacts from the markets in which it operates

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Laurene

2 months ago

B) Assess the organization's process of vetting vendors that provide necessary services to the organization

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Joanna

3 months ago

A) Assess the organization's ability to minimize potential external risks

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Cristina

3 months ago

Hmm, I'm not sure. Option B about vetting vendors seems a bit off-topic. Maybe the internal audit team could fit that in as a side project, but it's not the main focus here.

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Crista

3 months ago

I believe option D is also important, evaluating controls to minimize risks.

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Mertie

3 months ago

While option D could be helpful, I agree that option C is the best choice here. Focusing on the organization's specific market risks is key to addressing the board's concerns.

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Glory

2 months ago

Definitely, it's important to address the board's concerns about potential external risks.

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Onita

2 months ago

That makes sense, focusing on specific market risks will provide valuable insight.

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Nilsa

3 months ago

I agree, assessing the organization's risk impacts from the markets is crucial.

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Blythe

3 months ago

I think option C is the best choice here.

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Mitzie

3 months ago

I agree with Sheron, assessing risk impacts from markets is crucial.

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Sheron

3 months ago

I think option C is the most appropriate.

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Katina

3 months ago

I believe option D is also important, evaluating controls to minimize risks.

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Skye

3 months ago

I agree with Tashia, assessing risk impacts from markets is crucial.

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Jannette

3 months ago

I think option C is the most appropriate. Assessing the organization's risk impacts from the markets in which it operates would provide the board with the insight they're looking for regarding external risks.

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