Certified Internal Auditor (CIA) Part 2: Practice of Internal Auditing — Question 165
Which of the following audit planning activities adds the least value in understanding the current risk exposures facing the corporation?
Answer options
- A. Review of organizational strategic plans and operational plans.
- B. Consultation with senior management and the audit committee.
- C. Review of the external auditor's risk assessment.
- D. Review of corporate performance reporting and benchmarking.
Correct answer: D
Explanation
The correct answer is D because reviewing corporate performance reporting and benchmarking primarily focuses on past performance rather than current risk exposures. In contrast, the other options involve strategic and operational insights or direct consultations that provide a better understanding of ongoing risks.