Exam Question#22 (Planing the Engagement)
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22. Question ID: CIA 1191 II.13 (Topic: A-C. Planning the Engagement)
Factors that should be considered when assessing risk in a functional area include:
Volume of transactions.
Degree of system integration.
Years since last engagement.
Significant management turnover.
Value of assets at risk.
Average value per transaction.
Results of last engagement.
Factors that best define the significance of risk are
A. 2, 4, and 7.
B. 3, 4, and 6.
C. 1, 5, and 6.correct
D. 1 through 7.wrong
Your Incorrect Answer Explanation:
Factors 2, 3, 4 and 7 do not measure risk.
Correct Answer Explanation:
Factors 1, 5 and 6 are the best measures of risk. These factors can be quantified, whereas the others cannot be.
I have problem understanding the correct answer of this question. Risk factors cloud be quantitative and qualitative as well. Accordingly, all or the provided risk factors should be considered
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