Which of the following would the chief audit executive be required to disclose in the communication of quality assessment results to senior management and the board?

Which of the following is true regarding the use of a formal risk management framework?
1. It facilitates a methodical approach to risk mitigation.
2. It defines and standardizes the terminology used in risk communication.
3. It establishes the risk tolerance levels to be accommodated in the strategy.
4. It facilitates the alignment of risk mitigation strategies with management priorities.

An internal auditor assigned to a supplier management process engagement reviews the risk assessment with the process owner The auditor inquires about the risk response for potentially engaging unqualified third-party service providers The process owner responds that due diligence checks are undertaken to make sure that third parties possess requisite competencies before they are engaged Which of the following risk management techniques is the process owner using?

Which of the following statements is true regarding consulting engagements?

Which of the following preventative controls would be most effective for organizations facing business disruptions and respective financial losses?