Please answer part A & part B of Question 5 QUESTION 5A The events that need to
ID: 2337454 • Letter: P
Question
Please answer part A & part B of Question 5
QUESTION 5A
The events that need to be identified as part of enterprise risk management
a.
Are those that may create an opportunity for the organization
b.
Are those that may have a negative impact on the organization
c.
Are all events that could possibly happen to an organization
d.
Are those that may provide opportunities and/or have a negative threat on an organization
QUESTION 5B
Auditing standards require that independent auditors
a.
Only understand internal controls of the specific clients that they are auditing
b.
Work with a firms accounting staff to improve internal controls
c.
Help management implement internal controls
d.
Understand internal controls
a.
Are those that may create an opportunity for the organization
b.
Are those that may have a negative impact on the organization
c.
Are all events that could possibly happen to an organization
d.
Are those that may provide opportunities and/or have a negative threat on an organization
Explanation / Answer
Answe 5A.
Are those that may provide opportunities and/or have a negative threat on an organization
Answer 5B.
Only understand internal controls of the specific clients that they are auditing