The Chief Audit Executive for an Organization Has Just Completed

question 131

Multiple Choice

The chief audit executive for an organization has just completed a risk assessment process, identified the areas with the highest risk, and assigned an audit priority to each. Which of the following statements is true and consistent with the International Professional Practices Framework?

• A) Items should be ranked in the order of quantifiable dollar exposure to the organization. II. The audit priorities should be in order of major control deficiencies. III. The risk assessment, though quantified, is the result of professional judgments about both exposures and probability of occurrences.
• B) I only
• C) III only
• D) II and III only
• E) I, II, and III.

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Definitions:

Macrophages

A type of white blood cell that engulfs and digests cellular debris, foreign substances, microbes, and cancer cells in a process called phagocytosis.

Memory B-Cells

A type of white blood cell involved in the immune response, capable of remembering past infections and pathogens to produce a quicker response upon re-exposure.

B-Lymphocytes

A type of white blood cell that plays a crucial role in the immune system by producing antibodies, which help fight off infections and diseases.

Antigens

Substances that the immune system recognizes as foreign or dangerous, prompting an immune response.