If the chief audit executive believes that senior management has accepted a level of residual risk that is unacceptable to the organization, they should:

Which of the following situations would justify the removal of a finding from the final audit report?

A bank uses a risk analysis matrix to quantify the relative risk of auditable entities. The analysis involves rating auditable entities on risk factors using a scale of 1 to 10, with 10 representing the greatest risk. A partial list of risk factors and the ratings given to three of the bank's departments is provided below: Which of the following statements regarding risk in the department is true?

The chief audit executive (CAE) of a large retail operation believes that senior management has accepted a level of risk that exceeds the organization's current risk tolerance with respect to a major expansion. The CAE plans to meet with senior management to discuss these concerns. According to IIA guidance, which of the following would be an appropriate course of action in preparation for this meeting?
Understand management's basis for the decision.
Advise the board of the concern and upcoming meeting.
Ascertain which members of management have accepted the risk.
Determine if management has the authority to accept the risk.

During the filework phase of an assurance engagement the internal auditor decides that she wants to adjust the audit work program. Which of the following is the most appropriate next step for the auditor to take9