The internal audit risk assessment process:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The internal audit risk assessment process: [SELECT ALL THAT APPLY]
a) Provides the Internal Audit function with an ability to prioritize risk areas based on objective and subjective evaluation criteria.
b) Should be considered the foundation of the audit function.
c) Leads to the creation of the annual audit plan and audit budget.
d) Should leverage management's enterprise risk management assessment process, if appropriate.
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