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Which of the following is not an appropriate role for internal auditors after a disaster occurs?

Monitor the effectiveness of the recovery and control of operations.
Correct deficiencies of the entity's business continuity plan.
Recommend future improvements to the entity's business continuity plan.
Assist in the identification of lessons learned from the disaster and the recovery operations.

Answer(s): B

Which component is the foundation of the COSO internal control framework?

Answer(s): B

Which of the following best describes the underlying premise of the COSO enterprise risk management framework?

Management should set objectives before assessing risk.
Every entity exists to provide value for its stakeholders.
Policies are established to ensure that risk responses are performed effectively.
Enterprise risk management can minimize the impact and likelihood of unanticipated events.

Answer(s): B

Which of the following is an example of sharing risk?

An organization redesigned a business process to change the risk pattern.
An organization outsourced a portion of its services to a third-party service provider.
An organization sold an unprofitable business unit to its competitor.
In order to spread total risk, an organization used multiple vendors for critical materials.

Answer(s): B