Just as a business does not have the resources to mitigate all its risks, internal audit does not have the resources to test every risk and the controls implemented to address each risk. What helps a company prioritize the risks it faces?
A) Risk scores
B) Audit scores
C) Planning scores
D) Scoping scores

Question

Quizplus · Accepted Answer

Risk scores help a company prioritize the risks it faces by quantifying the level of risk associated with different areas or processes, allowing for a focused approach to risk management and audit planning.

Just as a Business Does Not Have the Resources to Mitigate