The chief audit executive (CAE) is responsible for ensuring that residual risk is assessed appropriately as part of the risk-based audit planning and execution. While professional judgment is important, the frequency and approach to assessing residual risk are primarily influenced by:
The expectations of the board and senior management, who are ultimately accountable for governance, risk management, and oversight.
They guide how often and how deeply the CAE should evaluate residual risks, particularly in light of strategic changes, emerging risks, or organizational priorities.
B Wong: Changes in the environment: These trigger risk assessments but do not determine the frequency or approach—those are set by expectations from leadership.
A voting comment increases the vote count for the chosen answer by one.
Upvoting a comment with a selected answer will also increase the vote count towards that answer by one.
So if you see a comment that you already agree with, you can upvote it instead of posting a new comment.
Kozy
1 week, 1 day ago