Management has decided to invest significant capital in a new and innovative large computer system. They understand that they are one of the first organizations to implement this system, but they believe the benefits outweigh the uncertainty over the performance and reliability of the software. This decision best describes which aspect of risk management?

A daily log of treasury dealers who exceeded their authorized limits serves as a:

In the area of business acumen, which of the following competencies would be the sole responsibility of an internal audit staff member?

Risk assessments can vary in format,but generallyinclude.
I.A description of identified risks. II.Tests of audit controls.
III.A
system of rating risks. IV.Sample size identification.

An internal auditor is assigned to conduct an audit of security for a local area network (LAN) in the finance department of the organization. Investment decisions, including the use of hedging strategies and financial derivatives, use data and financial models which run on the LAN. The LAN is also used to download data from the mainframe to assist in decisions. Which of the following should be considered outside the scope of this security audit engagement?