According to IIA guidance, which of the following statements is true regarding ISO 31000?
A.
The key principles approach checks whether each element of the risk management process is in place.
B.
The framework is effective in addressing the organization's structure, size, and risk profile but not its culture objectives.
C.
The end point for improving an organization s approach to risk management should be a gap analysis that evaluates any changes.
D.
A combination of the three primary approaches to the framework generally yields the most information despite the complexity
The Answer Is:
D
This question includes an explanation.
Explanation:
According to IIA guidance, ISO 31000 recommends that utilizing a combination of the three primary approaches to the framework (ISO 31000) often provides the most comprehensive insights despite the complexity involved. This approach allows for a more robust and holistic understanding of the organization's risk management practices by integrating multiple perspectives and methodologies.
The Institute of Internal Auditors (IIA) provides guidance on utilizing standards such as ISO 31000 in internal audit practices, emphasizing the value of a comprehensive approach.
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