Sometimes, internal audit staff may partner with operating managers to rank risks. Which of the following outcomes may be the most beneficial aspects of this strategy?
1. Reappraising risks levels.
2. Providing accurate information to management.
3. Marketing the internal audit activity.
4. Planning safeguards for assets in high-risk areas.
Internal audit staff partnering with operating managers to rank risks can lead to reappraising risk levels and providing accurate information to management. These outcomes are critical because understanding and accurately assessing risk levels is a fundamental part of managing business operations effectively. Accurate information is essential for management to make informed decisions. Marketing the internal audit activity and planning safeguards for assets in high-risk areas, while important, are not the primary outcomes of risk ranking collaborations.
Internal auditor are not responsible to provide accurate information to management. It is management (process owner) responsibility to have the accurate information with them.
It should be A.