Certified Internal Auditor (CIA) Part 2: Practice of Internal Auditing — Question 232

Which of the following activities demonstrates an example of the chief audit executive performing residual risk assessment?

Answer options

• A. Cost-benefit analysis of management not implementing a recommendation to address an observation.
• B. Inquiry of corrective action to be completed within a certain period.
• C. Reporting the status of every observation of every engagement in a detailed manner.
• D. Soliciting management’s feedback after completion of the audit engagement.

Correct answer: D

Explanation

The correct answer, D, highlights the chief audit executive's role in evaluating residual risks by obtaining management's perspectives after an audit. The other options focus on different audit-related activities that do not specifically assess the risks remaining after actions have been taken.