The internal audit manager has been delegated the task of preparing the annual internal audit plan for the forthcoming fiscal year. All engagements should be appropriately categorized and presented to the chief audit executive for review. Which of the following would most likely be classified as a consulting engagement?
Helping in the design of the risk management program is most likely classified as a consulting engagement. Consulting engagements involve providing advice and assistance to management to improve the organization's operations. Designing a risk management program entails offering expertise and recommendations, which aligns with the nature of consulting work. In contrast, evaluating process effectiveness, assessing financial control adequacy, and reviewing compliance are more aligned with assurance engagements, where the focus is on evaluating and providing an opinion on specific areas.
Reviewing reporting compliance is consulting? no way, the correct answer should be B