When developing an effective risk-based plan to determine audit priorities, an internal audit activity should start by:
The decision to implement enhanced failure detection and back-up systems to improve data integrity is an example of which risk response?
Which is the least effective form of risk management?
Which of the following statements is correct regarding corporate compensation systems and related bonuses?1. A bonus system should be considered part of the control environment of an organization and should be considered in formulating a report on internal control.2. Compensation systems are not part of an organization's control system and should not be reported as such.3. An audit of an organization's compensation system should be performed independently of an audit of the control system over other functions that impact corporate bonuses.
Which of the following is a role of the board of directors in the governance process?
The main reason to establish internal controls in an organization is to:
