Assessing risk culture

In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please re-read the article before attempting the questions again.

  1. What are the core internal audit roles in regard to ERM

  2. Why shouldn’t internal audit set the risk appetite?

  3. Legitimate internal audit roles regarding risk management but with safeguards include

  4. How can Risk Management support internal audit?

  5. How can Internal Audit support Risk Appetite and Risk Tolerance reviews?

  6. Key components of effective audit planning are

  7. Why is internal audit automation important?

  8. A factor widely considered to have been a driving force for the financial crisis of 2008 is

  9. One key risk regarding the audit of risk culture for a mature IA department is

  10. An initial step towards effective risk culture review for IA could be